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- AAPICO Hitech Public Co., Ltd. Business Report FY ended Dec. 2015
AAPICO Hitech Public Co., Ltd. Business Report FY ended Dec. 2015
Financial Overview
|
(in million THB) |
|
FY ended Dec. 31, 2015 |
FY ended Dec. 31, 2014 |
Rate of change (%) |
Factors |
| Sales |
14,993 |
15,196 |
(1.3) |
1) |
| Net Profit |
338 |
386 |
(12.4) |
2) |
Factors
1) Sales
-In the fiscal year ended December 31, 2015, the Company’s sales decreased by 1.3% from the previous year to THB 14,993 million. The decrease in sales was primarily due to negative effects from weaker currency exchange rates and lower scrap income. Sales in the Company’s automotive parts segment increased due to higher sales in Thailand, which was partially offset by declining sales in China due to economy slowdown. The Company’s sales in its Car Dealers segment decreased due to weaker currency effects.
2) Net Profit
-The Company’s net profit for the fiscal year ended December 31, 2015 was THB 338 million, a decrease of 12.4% from the previous year. A decrease in income and negative foreign currency exchange effects were primary drivers of the decrease in profit, despite improved gross profit margins.
Contracts
-In the fiscal year ended December 31, 2015, the Company supplied navigation systems to following OEM manufacturers:
- Hyundai Motors
- Proton
- Mitsubishi Motors
- MG
- Nissan (Malaysia)
Awards
-The Company won the following awards in 2015:
| Received Company |
Award |
Awarding Company |
| Kunshan Chaitai-Xincheng Precision Forging Company Limited |
Outstanding Contribution Supplier |
Changan Ford Mazda Engine Company Ltd. |
| AAPICO Hitech PLC |
Q1 Award |
AutoAlliance Thailand |
Capital Expenditures
|
(in million THB) |
|
FY ended Dec. 31, 2015 |
FY ended Dec. 31, 2014 |
FY ended Dec. 31, 2013 |
| Overall |
273 |
460 |
734 |
-Thailand’s recent political uncertainty and weak economy have both contributed to the delay of automotive investments within the country, specifically in regards to the second phase of the country’s eco-car program.
-The Company’s new 20,000-square-meter factory in China which manufactures forged and machined parts is currently utilizing 30% of its production space. Once new orders are received, the plant’s production capacity can be expanded through the installation of additional machinery.
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