FTE has reported a total revenue of 1,010.91 million baht for the year 2021, reflecting a growth of 10.58% and a net profit of 44.02 million baht. The company is moving forward with its proactive plan, aiming for revenue of 50 million baht from its new business in safety equipment and personal protective equipment, as well as designing and installing fire protection systems for industrial factories. The outlook is positive, supported by economic stimulus measures, reinforcing the target for 2022 to achieve a 20% growth or 1,200 million baht.

Mr. Thaksin Tantiphaichit, Chief Executive Officer of Firetrade Engineering Public Company Limited (FTE), a leader in the import and distribution of comprehensive fire protection system design, installation, repair, and inspection services, revealed that the company's financial performance for 2021 showed total revenue of 1,010.91 million baht, an increase from the previous year's revenue of 914.16 million baht, representing a rise of 96.75 million baht or 10.58%. The net profit was 44.02 million baht, down from the previous year's profit of 60.53 million baht, a decrease of 16.51 million baht or 27.28%.

The company's performance improved due to its ability to operate and recognize revenue from the design and installation of fire protection systems in the private sector, particularly in industrial factories, which continued to expand in 2021. This type of work has a short duration, allowing for quick revenue recognition, alongside increased sales revenue. However, the net profit decreased due to rising administrative expenses from various reserves, such as product reserves, doubtful debt provisions, and employee-related expenses.

For this year's operations, the company is proceeding according to its planned strategy in the new business of importing and distributing safety equipment and personal protective equipment for factories to expand its product base. The company has already started receiving some orders from its existing customer base, targeting revenue from this business at approximately 50 million baht.

Meanwhile, for the design and installation of comprehensive fire protection systems, the company continues to focus on the industrial factory sector, which is expected to grow continuously this year due to economic stimulus measures, ongoing expansion in the manufacturing sector, and increased vaccination rates.

As for contracts with the Electricity Generating Authority of Thailand (EGAT), competition is quite high. Nevertheless, the company aims to maintain a market share of approximately 60-70% this year. The company plans to continuously monitor bids and prepare proposals for both public and private sectors, driving the financial performance for 2022 to grow by 20% or 1,200 million baht as planned.