CCP anticipates a strong recovery in Q2/2022, driven by the easing of the COVID-19 pandemic in the country, which is encouraging private investment and accelerating construction in industrial estates. Government projects are also supporting this trend, with a focus on cost management strategies to enhance profitability, the development of innovative products, and increasing bidding activities to maintain a backlog of no less than 1.6 billion baht. In Q1/2022, the company reported total revenue of 613.34 million baht and a net profit of 9.72 million baht.

Mr. Arthit Tipakornsukasem, Managing Director of Chonburi Concrete Product Public Company Limited (CCP), stated that the operational outlook for Q2/2022 is promising, with positive factors stemming from the decline in new COVID-19 cases and fatalities, creating a favorable environment for businesses to resume investments in various private sector projects. The construction of industrial estates is accelerating, supported by government infrastructure development plans across several projects, such as road construction by the Department of Highways and the Department of Rural Roads, as well as special urban highway projects, leading to an increased demand for concrete products.

However, the company remains cautious about risks associated with rising fuel prices and raw material costs, focusing on cost management strategies by leveraging technology to improve internal operations, sales systems, and production processes to reduce costs and expenses, thereby enhancing profitability. Currently, the company has installed solar roofs at its production facility and is studying additional alternative energy sources to mitigate energy risk.

Additionally, the company is accelerating the development of innovative products that address labor shortages and construction challenges, reducing costs for both infrastructure and private sector projects to meet the growing market demand. It plans to continue bidding for more projects in the future to maintain a backlog of no less than 1.6 billion baht.

For Q1/2022, the company reported total revenue of 613.34 million baht, a decrease from 675.08 million baht in the same period last year, representing a decline of 9.14%. The net profit was 9.72 million baht, down from 24.49 million baht in the previous year, a decrease of 60.31%.

The decline in total revenue and net profit is attributed to increased fuel and raw material costs, impacted by the Russia-Ukraine war, along with price volatility, which has led operators to consider postponing some investment projects.