TOA Paint (Thailand) Public Company Limited, or TOA, the leading company in the paint, construction chemicals, and building materials industry in Thailand, announced its first quarter 2023 results, showing continuous growth despite the sluggish Thai economy. The total revenue reached 5.681 billion baht, an increase of 4% compared to the same period last year, with a net profit of 953 million baht, growing by 30%.

Mr. Jaturapat Tangkaravakoon, CEO of TOA, revealed that in the first quarter of 2023, the company achieved total revenue of 5.681 billion baht, a 4% growth compared to the same period last year, with a net profit of 953 million baht, up 30%. This growth is attributed to the strength of its core product lines, including architectural paints and construction chemicals in Thailand and international markets, particularly in Myanmar, Laos, and Vietnam, where sales continue to grow. This reflects the success of the product portfolio management strategy aligned with consumer demands in each country, aiming to become the Total Solution for Living leader in building materials that meet customer needs across all markets, while pursuing sustainable growth both domestically and regionally.

At the same time, the company has adjusted its strategy to cope with the slowdown in the new housing market by focusing on a diverse product mix and expanding the proportion of products in the repair and renovation segment, which still has high demand. This has led to construction chemicals, building materials, mortar, gypsum boards, tiles, sanitary ware, and smart bathroom innovations playing a crucial role in generating revenue and maintaining business stability.

Furthermore, in March 2023, the company accelerated risk management measures to address the volatility of the petrochemical supply chain due to the situation in the Middle East by sourcing raw materials from additional sources and utilizing other tested raw materials to mitigate the impact of raw material tightness. This includes adjusting production and sales plans and managing product prices appropriately to maintain competitiveness and guard against rising costs.

Mr. Jaturapat further stated that although energy and raw material costs are expected to fluctuate more starting from the second quarter of 2023, with effective cost management plans and comprehensive risk management, the company is confident in its ability to maintain business strength and continuous growth. #TOA #ทีโอเอ