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P.C.S. Machine Group Holding PCL Business Report FY ended Dec. 2019
Financial Overview |
(in million THB) |
| FY ended Dec. 31, 2019 | FY ended Dec. 31, 2018 | Rate of Change (%) | |
| Net Sales | 5,231.7 | 5,586.0 | (6.3) |
| Net Profit | 75.2 | 358.8 | (79.1) |
Factors
1) Net Sales
-The Company’s sales in the fiscal year ended December 31, 2019 decreased by 6.3% from the previous year to THB 5,231.7 million. Domestically, the Company’s sales decreased by 18.0% to THB 3,570.3 million due to weakening of the automotive industry overall in 2019. The Company’s overseas sales increased by 34.9% to THB 1,661.4 million in 2019 due to having a full year of operations in 2019 compared to nine months of operations in 2018.
2) Net Profit
-The Company’s net profit for the fiscal year ended December 31, 2019 totaled THB 75.2 million, a decrease of 79.1% from the previous year. The Company’s net profit in the country decreased by 45.6% during the fiscal year due to declining sales revenue in the local automotive industry. Its overseas business had a net loss of THB 214.8 million due to a provision for bad debts, as well as increased marketing expenses.
Restructuring
-On July 1, 2019, the Company restructured itself through an Entire Business Transfer (EBT) scheme, such that its three major subsidiaries, P.C.S. Precision Works Co., Ltd., P.C.S. Die Casting Co., Ltd., and P.C.S. Forging Co., Ltd., all transferred their businesses to the Company. With this transfer, the Company changed its principal business from investment holdings to the manufacture and distribution of automotive parts.
Awards
-The Company received the following awards in 2019:
- Supplier Direct Delivery Phase 1 Award from KYB Steering (Thailand) Co., Ltd.
- Delivery Target Achievement award from KYB Steering (Thailand) Co., Ltd.
- Zero Defect award from KYB Steering (Thailand) Co., Ltd.
Outlook
-In 2020, the Company will engage in a dual-focused strategy. It will continue to emphasize the sale of engines and one-ton pickup truck parts while beginning production of components for electric vehicles to expand its business range.
Capital Expenditure |
(in million THB) |
| FY ended Dec. 31, 2019 | FY ended Dec. 31, 2018 | FY ended Dec. 31, 2017 | |
| Total | 280.1 | 304.7 | 59.2 |
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