Mr. Yann Phokthap, Chief Executive Officer of Central Retail Corporation Public Company Limited stated that Central Retail continues to operate strongly amidst the COVID-19 crisis, integrating it into the current business plan. The company focuses on a proactive strategy for stable long-term growth while adapting its business model and portfolio to be flexible and aligned with market trends and consumer demands. This has led to significant growth in the omni-channel business and hardline sector, achieving record revenues and profits. In Q2 2021, Central Retail reported total revenue of 46,376 million baht (+12% YoY), EBITDA of 4,088 million baht (+218% YoY), and a net loss reduced to 426 million baht (+83% YoY).

The new highs for Central Retail in Q2 2021 include:
1. Strong growth in the hardline business, which has been the most robust since the establishment of Central Retail. It ranked first among all sectors in terms of total revenue, EBITDA, and net profit, with sales proportion increasing from 32% to 39% compared to the same quarter last year. This success is attributed to the proactive strategies implemented, including the merger with COL Public Company Limited (COL), which has allowed the hardline business to expand rapidly and reach the B2B customer base. Additionally, Thai Watsadu continues to grow, having opened four branches this year and planning to open another branch by the end of the year, with plans to expand into Vietnam.

2. New sales channels for the omni-channel platform, such as the Personal Shopper service for all customers, covering all business segments from department stores to supermarkets, increasing the number of Tops branches offering quick commerce, and launching the GO! application for the food business in Vietnam. The success of the CENTRAL App, a super application that provides a One-stop Shopping experience with products from Central Retail, has also been notable, offering fast delivery within three hours. Currently, the CENTRAL App has over 2.7 million downloads, a significant increase since its launch in December 2020.

3. Expansion of the Property business is ongoing, with continuous upgrades and transformations of branches as planned. In Vietnam, the GO! shopping center in Tay Nguyen opened in April, and two more GO! branches are set to open in Q3 2021.

“The performance in Q2 demonstrates the effectiveness of our proactive business strategies and risk management. In the second half of the year, we will continue to focus on growth and business expansion through investments, mergers, and collaborations with new partners, alongside cooperation with the government to manage the COVID-19 crisis and ensure the well-being of all stakeholders, including employees, customers, partners, shareholders, and communities. We are committed to enhancing public health standards in our services. We believe that when Thailand reopens and the economy begins to recover, Central Retail will be among the first to achieve rapid and robust growth,” Mr. Yann concluded.