In 2018, companies in Somboon Group operated the business under the vision “Strive for sustainable growth in automotive industry through advanced technology and partnership” which is a business strategy for the next 5 years
in order to become a leading automotive parts manufacturer and create sustainable returns for shareholders. The Company focuses on product development as well as production technology development to increase the competitiveness of parts production and to expand the business into other related businesses to support the changes of the automotive industry in the future.
The operating result in 2018 continues to grow steadily. Although this year, the Company faced with foreign factors from the trade war between the United States and China and the changes in the automotive industry which are entering into a huge change as a result of technological advances in the development of electric vehicle (EV) to produce environmentally friendly cars. The Company was able to generate satisfactory profits. Regarding the Thai automotive industry, there were 2.17 million vehicles produced, an increase of 9 percent which is a production for domestic sales of 1.02 million units, an increase of 19 percent. Production for export 1.14 million units, an increase of 1 percent, while the agricultural machinery industry has production of 77,000 units, an increase of 16 percent from the previous year. Resulting in Company’s total revenue of 8,194 million Baht and net profit of 915.60 million Baht (an increase of 13 percent from the previous year).
Regarding the amendment of organization, the Board of Directors passed a resolution to appoint Miss Napatsorn Kitaphanich as the President effective on 1 January 2018.
The Company plays an important role in managing the organization to achieve balance in all sectors, from the employee level to the management and the board of directors, under the SBG’s philosophy “Somboon Triple Bottom Line” in order to create balance which consists of Smart People, Business Trust and Growth Society including applying corporate governance principles as guidelines for good management. Moreover, the Company concentrates on the continuous development of personnel potential in order to be a smart person, good person, moral person and able to apply the knowledge gain to perform the work in accordance with the business strategy and goals of the Company according to “Somboon People Principle”. In addition, the Company has continued to take care of the employee to be happy and to have stability in the work in order to create good balance within the organization to be strong, stable and sustainable.
As a result from the business operations under the aforementioned vision in the previous year, the Company received important awards from the Stock Exchange of Thailand, SET Sustainability Awards of Honor, Thailand Sustainability Investment (THSI) Award and Best Investor Relation Award.
Lastly, on behalf of the Board of Directors, we would like to express gratitude to shareholders, stakeholders, all employees and executives. The Board of Directors will adhere to conducting business under the principles of ethics and good corporate governance principles in order to move forward as well as grow steadily and sustainably.