SCGJWD Logistics Public Company Limited (SJWD) announced the Company’s strong performance for Q1/2025, with the quarterly net profit hitting a record high of 365.5 million baht derived from the reduction in selling and administrative expenses and financial costs, as well as the recognition of increased profit sharing from investments. SJWD emphasized that the Company was only marginally affected by the US countervailing tax measures as the proportion of revenue from the shipping of goods to the United States was only 1 percent, thus highlighting the strength of the business base covering mainly the ASEAN region, enabling the Company to fully respond to customers’ needs and adjust export plans more effectively.

Dr. Eakapong Tungsrisanguan, Chief Financial Officer of SCGJWD Logistics Public Company Limited (SJWD), the largest integrated logistics and supply chain service provider in the ASEAN, revealed that the Company showed a strong performance in Q1/2025 with a net profit of 365.5 million baht, an increase of 122.7 percent, and 97.2 percent compared to the same period of the previous year and the previous quarter, respectively. This performance is the highest quarterly record, excluding the Q4/2018 net profit achieved before the merger with SCG Logistics Management Company Limited, when the net profit was 465.8 million baht arising from the special profit realized from the asset sale to a trust fund.

This outstanding first quarter net profit was derived from three main factors: (1) The reduction in Selling, General and Administrative (SG&A) expenses in Q1/2025 to 517.9 million baht, compared to 593.8 million baht recorded in the previous quarter, due to more effective cost control and reduction; (2) The reduction in financial costs to 170.1 million baht, compared to 182.0 million baht recorded in the previous quarter, due to the repayment of 500 million baht in debentures, and lower interest expenses as negotiated with financial institutions; and (3) Recognition of increased profit sharing from investments. This factor highlighted the investment potential and business strategy collaborations, such as the investment in: PPSEZ, a major industrial estate developer in Cambodia; Transimex, a leading integrated logistics service provider in Vietnam; ESCO, a major container port operator at Laem Chabang Deep-Sea Port in Chonburi Province; and ANI, a leading airline cargo sales agent listed on the Stock Exchange of Thailand; and SWIFT, an integrated logistics operator listed on Bursa Malaysia (Malaysia Exchange). All these ventures have shown good profit-sharing trend. In addition, the Company has realized special profit from the sale of investment in CSLF, an integrated food service provider in Taiwan.

The total revenue in Q1/2025 was 6,440.0 million baht, an increase of 2.4 percent from the same period last year and higher than that in the previous quarter, although the revenue recognition from sales of investment in CSLF in February 2025 has not yet been taken into account. Several businesses have also increased their revenue satisfactorily, including: (1) General warehouse business with revenue of 308.2 million baht, a 17.5-percent increase over the same period of the previous year; (2) Hazardous goods and chemical warehouse business with revenue of 142.1 million baht, an increase of 15.4 percent over the same period of the previous year; (3) Vehicle storage and management business with revenue of 295.5 million baht, a 7.4-percent increase over the same period of the previous year; (4) Multimodal transportation business with revenue of 238.2 million baht, an increase of 28.4 percent over the same period of the previous year, including cross-border transportation and private storage rental business, all of which has shown higher revenue compared to the same period of the previous year.

SJWD’s Chief Financial Officer added that the Company’s current main revenue stream has been derived from the provision of logistics and supply chain services in Thailand and the ASEAN region, while income from direct shipping to the United States accounted for only 1 percent. In such a case, the effect has been minimal regarding the announcement of the US countervailing tax measures, which, at any rate, have been postponed for 90 days. In addition, the number of customers whose main income were derived from the export of goods to the United States has been small. Moreover, the Company has received positive results from the increased demand for the rental of storage space for longer periods due to the uncertainty arising from the announcement of the US countervailing tax measures.

As a result of the SJWD’s policy to expand investments to cover the entire ASEAN region, as of today, the Company has business bases in nine countries, including southern China. Therefore, the Company is confident that it will be able to effectively respond to the logistics and supply chain needs of all customers, especially with its ability to integrate cooperation within the group of companies to provide services to customers if there is a need to move the export base to other ASEAN countries to reduce the impact of countervailing tariff imposition. More importantly, SJWD’s financial position and cash flow remain strong, so the Company is confident that it will overcome this current challenge.