The year 2019 was a challenging year for the Company’s operation which was hampered by the sluggish economy both domestically and internationally. This affected the confidence in customers’ purchasing powers which have not yet recovered from the previous years. Despite the said situations, the Company still saw a satisfying profit.

In 2019, the Abico group had the total revenue of Baht 1,246 million, an increase of 51.53 percent compared to 2018; the operating profit of Baht 114.65 million; and the net profit of Baht 57.62 million in the consolidated financial statement, an increase of 392.72 percent compared to 2018. The main business of the Company in contract manufacturing of UHT ready-to-drink milk, pasteurized fruit juice, and pasteurized milk had enjoyed a continual growth rate since 2018, and saw a growth of 61 percent in contract manufacturing business in 2019. The Company still focuses on product development and modernization of machinery that meets the acceptance criteria of clients and leading international organizations, as well as more effective ways to reduce manufacturing costs and expenses. As for the dairy farm business in 2019, the Company saw the decrease on revenue by 10 percent compared to 2018, due to natural surrounding factors. However, the Company is still confident in the dairy farm business which has the capacity to add value for the Company.

In 2020, the Abico group is still confident that the Company will be able to strengthen its business, while also develop operating plan and work process to continuously increase agility and efficiency in our operation, which will, in turn, raise the capacity for the Company and its shareholders in the future.

Finally, in the name of the Board of Directors and employees of the Abico group, we would like to express our gratitude to shareholders, business partners, clients, and financial institutions for your contribution to our operation. The Company will be determined to constantly improve and strengthen its business growth along with the social and environmental sustainability, as well as to maintain the best interests of all stakeholders.

Mrs. Chintana Boonyarat
Company’s Chairman
Abico Holdings Public Company Limited