SELIC Posted a Strong Turnaround Breaking the Record
of its Operational History with All time High Financial Indicators.
Selic Corp PCL broke a new record for the highest revenue and profit in its corporate history with net profit of 85.91 million baht, a turnaround growth despite the 10.93 MB loss of the previous year and total revenue of 1,397 million baht, a 133.1% growth from the year before. “Mr. Ek Suwatthanaphim”, Chief Executive Officer, and “Ms. Yuwadee Aiamsontisup”, Managing Director, imparted that the financial performance of 2019 was as expected regarding the strategic plans after the growth of two segments, namely industrial adhesive and sticker business units.
Mr. Ek Suwatthanaphim unveiled that the business performance of 2019 was flourishing, breaking the record of the highest earnings in the corporate history notwithstanding economic slowdown and highly competitive market situation. The company reported its 2019’s revenue at 1,397.79 MB — a 133.1% increase compared to the previous year. Breaking down the revenue from the 2 business segments, the industrial adhesives business generated 723.73 MB, a 20.7% increase from the previous year, while the sticker and label business attained 812.84 MB, a 2.2% increase from the previous year. The growth of both businesses resulted in the net income of 85.81 MB.
This culmination was the result of an overarching synergy conducted by the Group in 2019, encompassing operational policies, accounting standard, and alignment of revenue recognition. It was one of the key strategies that invigorated the Group to potentially uplift its revenue and profits, leading to the tangible growth in 2019. For this year, the company is also confident of a promising prospect of the same success.
"The corporate performance of 2019 was as expected as we executed through our business strategies. The turnaround of 2019 led to this increase from the acquisition of PMC as well as the sales growth accomplished by both business segments, particularly the revenue growth from the industrial adhesive business and its profitability resulting in the 2019 performance.” stated Mr. Suwatthanaphim.
Ms. Yuwadee Aiamsontisup, Managing Director, added that the company’s enhanced profit-earning capacities mirrored the company’s success in implementing production cost and expenditure management in a more efficient manner last year in comparison to the year before.
Selic’s revenue structure of 2019 consisted of sales from the industrial adhesives business at the proportion of 44.2%, and sales from the sticker business at the proportion of 55.8%, which were as anticipated.