AAPICO Hitech Public Co., Ltd. Business Report FY ended Dec. 2014
Financial Overview |
(in million THB) |
| FY ended Dec. 31, 2014 | FY ended Dec. 31, 2013 | Rate of change (%) | Factors | |
| Overall | ||||
| Sales | 14,572 | 15,627 |
(6.8) |
-Sales from Automotive parts business declined attributable to decrease in sales in Thailand and China. Sales from Dealership business increased driven by aggressive growth strategy of Honda in Malaysia. |
| Net Profit | 386 | 634 | (39.1) | -Stamping dies and jigs business has the highest gross margin, followed by chassis frames and pressed parts and for forged parts in China. However, the forged parts business in Thailand and plastic parts business continued to incur losses mainly due to lower sales volume. |
Joint Ventures
-The Company announced the opening of Sumino AAPICO (Thailand) Co., Ltd., the joint venture between AAPICO Hitech and Sumino Kogyo Co., Ltd. The joint venture, based in Amata Nakorn Industrial Estate, Chonburi Province, Thailand, supplies precision press welding part to Auto Alliance (Thailand) Co., Ltd., a Rayong-based joint venture between Mazda and Ford. The new Company will be called SUMINO AAPICO (Thailand) Co., Ltd., with shareholding structure of 51% and 49% for Sumino and AAPICO respectively. Total investment is expected around 600 million baht (approximately 20 million USD).
Contracts
-In 2014, the Company supplies Navigation systems to following OEM manufacturers:
- Hyundai Motors
- Proton
- Mitsubishi Motors
- MG
- Nissan (Malaysia)
Awards
-Major awards in 2014 are as follows:
| Received Company | Award | Awarding Company |
| AAPICO Hitech PLC, AAPICO Forging PLC |
"Q1 Award" | Ford, Auto Alliance (Thailand) |
| AAPICO Hitech PLC | "GM Excellent Culture and Strategic Award", "GM Supplier Quality Excellence award" |
General Motors (Thailand) Co., Ltd. |
| AAPICO Hitech PLC | The Winner" in advance group at TCC-TPS Activity 2014 | Toyota Motor Asia Pacific (TMAP-EM) |
Capital Expenditures
|
(in million THB) |
| FY ended Dec. 31, 2014 | FY ended Dec. 31, 2013 | FY ended Dec. 31, 2012 | |
| Overall | 6,318 | 6,674 | 6,541 |
-In FY ended Dec. 2014, investment increased for new joint venture companies.
-Forged and machining parts plant in China still uses only 30% of the useful space. To cope with growing market in China, the Company only needs to install machinery to increase capacity.