Associate Professor Dr. Chalio Witoorpakorn, Deputy CEO of Eastern Polymer Group Public Company Limited (EPG), a leading global manufacturer and distributor of polymer and plastic products, announced the company's performance for the second quarter of FY 65/66 (July-September 2022). The company reported sales revenue of 3.25 billion baht, an increase from 2.98 billion baht in the same period last year, representing a 9% growth, with a gross profit margin of 31.4% and a quarterly net profit of 385 million baht, down from 413 million baht in the same period last year, a decrease of 6.8%. This was attributed to the operations of three main business groups:

            The thermal/cold insulation business under the Aeroflex brand reported sales of 967 million baht, an increase of 34.2% from the same period last year. Sales in the United States continued to grow due to the demand for high-quality rubber insulation products that meet safety certification standards, as well as the expansion into the Ultra Low Temperature Insulation and Air Ducting system markets. Additionally, support from the manufacturing sector and private investment continued to expand. Sales in Japan and Europe improved, while domestic sales gradually recovered following the easing of pandemic control measures and the gradual recovery of private sector investment.

            The automotive parts and accessories business under the Aeroklas group reported sales of 1.655 billion baht, an increase of 5.7% from the same period last year. This growth was driven by continuous production from automotive manufacturers and new vehicle models entering the market, resulting in increased orders and demand for key products such as bed liners, sidesteps, and other components for pickup trucks and SUVs.

Moreover, several automotive manufacturers adapted to address the semiconductor shortage, and growth is expected to return to normal levels. However, sales in Europe remained sluggish due to the economic slowdown in the region. In Australia, sales of automotive accessories increased compared to the same period last year, as the company recognized revenue from the acquisition of 4 Way Suspension Products Pty. Ltd in Australia for the first quarter.

The plastic packaging business under the EPP brand reported sales of 629 million baht, a decrease of 9.5% from the same period last year. This decline was due to seasonal factors, as Thailand experienced prolonged rainfall and flooding this year, negatively impacting domestic consumption. EPP adjusted its strategies to align with the situation by focusing on promotional activities to stimulate sales of plastic packaging. Nonetheless, plastic food container packaging remains popular among consumers.

The company experienced a 7.9% increase in cost of goods sold compared to the same period last year, which was lower than the revenue growth rate. The company sourced raw materials from various countries to maintain reasonable average costs. Selling and administrative expenses increased by 31.4% from the same period last year due to rising transportation costs, adjustments in employee hiring rates in the U.S. and Australia, and the hiring of additional staff to expand TJM stores in Australia, as well as recognizing expenses from 4 Way Suspension Products Pty. Ltd.

            The company reported a foreign exchange gain of 40 million baht, down 6 million baht from the same period last year, which had a gain of 46 million baht, due to fluctuations in foreign exchange rates. Additionally, the company received a share of profits from investments in joint ventures and partnerships amounting to 77 million baht, driven by the recovery of the thermal/cold insulation and automotive industries.

            Associate Professor Dr. Chalio further stated that the company's board of directors meeting on November 10, 2022, approved the payment of an interim dividend for the performance ending September 30, 2022, at a rate of 0.11 baht per share (11 satang), totaling 308 million baht. The record date for shareholders entitled to receive the dividend is set for November 28, 2022, with the dividend payment scheduled for December 8, 2022.