“ Crocodile Corporation Co., Ltd. is a true innovator in comprehensive construction solutions with quality products covering construction, repair, and decoration from foundation to roof. The company has reported its first-half performance for 2024 with revenues of 2 billion baht, reflecting a 5% growth compared to the same period last year, amidst a sluggish economic situation and real estate market. The company revealed that its comprehensive construction solutions continue to grow with innovative products that deliver distinct results and quality trusted by all segments. It is expected that the second half of the year, after the rainy season, will see more activity in construction, repair, and decoration compared to the first half. This is supported by the peak season of tourism, as well as renovations and repairs of residences and infrastructure projects. Additionally, it is anticipated that construction products will benefit from government projects, given the trend of home repairs towards the end of the year. The company emphasized that there will be no policy to raise product prices this year, despite the ongoing increase in energy and transportation costs. In the second half, the company plans to aggressively target the construction chemicals market and Crocodile paint products, along with unveiling plans for major national projects and fully entering the CLMV market after receiving excellent feedback from Vietnam. The company is also studying expansion opportunities into continuously growing markets like the Philippines, Indonesia, and Malaysia, with expectations to achieve revenues of 4 billion baht this year.
Dr. Jirath Sirichalermpong, Senior Assistant Managing Director of Crocodile Corporation Co., Ltd. discussed the overall business outlook, stating, “For the first-half performance, Crocodile generated approximately 2 billion baht in revenue, representing a 5% growth compared to the same period last year. Our target for 2024 remains at 4 billion baht. All product groups have shown satisfactory growth, with Crocodile paint products, or SEE JORAKAY, experiencing the most significant growth, followed by the construction chemicals group, and then the tile installation innovations, where Crocodile holds a substantial market share. Therefore, the growth is not overly dramatic. The second half is expected to be more vibrant than the first half, driven by the peak tourism season, including hotels and hospitals, as well as various government projects, which should benefit construction and home repair products. Crocodile's comprehensive product offerings meet the needs for renovations and repairs across residences, luxury resorts, factories, and infrastructure projects. Many may not know that we have world-class innovations for floor and road repairs that effectively address large-scale projects for both public and private sectors. Our customer base spans various industries, not just real estate, and currently, the tourism, hotel, and wellness sectors, along with government agencies, have projects expanding construction and repair work towards the end of the year. Therefore, Crocodile is confident that we will definitely grow this year.”
Mr. Wikit Kanchaai, Assistant Managing Director of Domestic Sales at Crocodile Corporation discussed the challenges facing the business and growth strategies in the domestic market for the second half, stating, “The current economic situation is challenging; purchasing power is declining, and consumers are more cautious before spending. Competition among businesses is intensifying, but we continuously see opportunities to penetrate new markets and customer segments. Crocodile has stood firm with quality products and innovations that address needs beyond pain points, meaning we not only respond to needs but also exceed them by presenting new trends aligned with global directions. For the second half, we will aggressively target the construction chemicals market and Crocodile paint products, where we are still considered a new player in the paint segment.

However, we see room for growth because we compete with innovation, such as the Crocodile Road Fix Express product that can be applied on-site within 6 hours and reduces carbon emissions by up to 97%. We have received two awards: the Best Innovation Award 2024 from Architect 67 and the recent Green "Best Innovativeness Green Product" award from SustainAsia Week 2024. Additionally, our Crocodile paint products also stand out for being safe, environmentally friendly, and of the highest world-class quality, catering to families and businesses that care about people and the environment. Currently, all industries are moving towards sustainability, and Crocodile has prioritized this from the beginning. All customer groups can be confident that Crocodile products are of high quality and consider sustainability in every production process. This is a clear strength that enables Crocodile to grow in this era. In the future, we will focus more on infrastructure projects, including expressways, railways, airports, and road surface repairs, where we have outstanding innovations that meet the highest demands. We will also continue our marketing campaigns that communicate the comprehensive nature of Crocodile's construction innovation lineup, which goes beyond just adhesives and cement. By using Crocodile products together, we can protect and care for homes and support construction projects of all scales, while also expanding branches and distributors to cover all areas across Thailand continuously.”
Mr. Pongpan Prateepmanowong, Assistant Managing Director of International Trade at Crocodile Corporation Co., Ltd. shared the company's expansion plans in the CLMV region, stating, “Crocodile has been distributing products in Cambodia, Laos, Myanmar, and Vietnam for some time now, with support teams and offices in both Vietnam and Myanmar. For this year, we expect our CLMV market to generate revenues of around 450-500 million baht. In the CLMV region, we are focusing on Vietnam, which is a large market due to its rapid urban expansion. Over the past 10 years since Crocodile entered the Vietnamese market, our products have received excellent feedback due to their quality and outstanding innovations. However, we face challenges from local brands that offer lower prices, as well as encountering counterfeit products. We now plan to establish a factory in Vietnam to fully penetrate the market, along with launching marketing campaigns to enhance brand recognition, aiming to become the number one brand in Vietnam in the future. Additionally, we are exploring opportunities to enter other markets in the ASEAN region, including the Philippines, Malaysia, and Indonesia, and are currently studying ways to collaborate with partners.”

Crocodile has revealed that despite the current increase in production costs across the supply chain due to rising energy prices, transportation costs, and a weakening baht, the company confirms that there will be no policy to raise product prices this year. It has announced a commitment to sustainability in all production processes from upstream to downstream, aiming to become a carbon-neutral organization, while accelerating the development of construction innovations for happiness for you and your family (Innovation for Your Family’s Happiness) to elevate the construction industry in Thailand further.