EPG Announces Business Plan for 2024/2025 Fiscal Year, Targeting 8-10% Sales Growth Aiming for Growth from Core Businesses, with Continuous Development of Innovative Products

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Mitihoon  –  AssocProfDrChalieo Vitoorapakorn, Deputy Chief Executive Officer of Eastern Polymer Group Public Company Limited (EPG), a leading global manufacturer and distributor of polymer and plastic products, revealed that the International Monetary Fund (IMFforecasts global economic growth of 3.2in 20242025The global recovery is gradual but stable, differing across regionsGlobal inflation is expected to continue declining, but there is pressure from rising interest rates, as well as impacts from prolonged geopolitical conflicts.

These factors pose challenges to EPG’s global business operationsIn the 2024/2025 fiscal year (April 2024 – March 2025), the company focuses its operations as follows:

1Achieving Organic GrowthWith existing products and new innovative products from all business groups, enabling the company to meet customer demands comprehensively, maintain existing customer bases and expand to new customer groups.

2Committing to research and development to create innovative products and new SCurves to support core businesses and establish new business groups in the future.

3Coplanning and improving operations of joint ventures in South Africa.

4Using energy efficiently and reducing greenhouse gas emissions.

 

In the 2023/2024 fiscal year (April 2023 – March 2024), EPG has set a sales growth target of 8-10% and a gross profit margin of 30-33%, driven by operations across 3 business groups as follows:

Insulation Business under the Aeroflex brand targets sales growth of 6-8%, coming from premium grade insulation products marketed domestically, in the United States, and JapanFor products used in Ultra Low Temperature Insulation industrial groups and Air Ducting systems, greater marketing efforts will be made domestically and in the United StatesFor domestic project customer groups, Aeroflex will benefit from relocating production bases to the EEC and in the United States, major project customer groups include Semiconductor/Cloud/Automotive sectors.

Aeroflex insulation addresses energy efficiency and environmental friendliness, having received carbon footprint certification for its organization and productsAs EPG’s pilot business group, it targets achieving Net Zero Emissions by 2042 with concrete supporting plans.

Automotive Parts and Accessories Business under the Aeroklas brand targets sales growth of 1012%, driven by developing innovative products jointly with OEM automotive customers in Europe, Asia and the United StatesWith expertise in manufacturing lightweight, durable polymer and plastic automotive parts that can fully substitute metal materials, Aeroklas helps reduce vehicle weight, energy usage and carbon dioxide emissionsImportantly, it meets safety standards, earning automotive brands’ trust to select Aeroklas as the manufacturer of various automotive parts that will be gradually launched this fiscal yearAdditionally, Aeroklas has projects to develop innovative products for both ICE and EV vehicles in collaboration with automakers to continuously create new SCurve products.

For the business in Australia under Aeroklas Asia Pacific Group (AAPG), it remains in the business turnaround phase by strengthening collaboration across businesses and brands in Australia, such as Aeroklas Fitment Center playing a key role in supporting the Fleet and OEM businesses.

Plastic Packaging Business under the EPP brand targets sales growth of 35%. EPP aims to expand market share for food packaging and eici plastic packaging brand, certified with various standards like Thai Industrial Standards, GMP, HACCP, BRC and most recently FSC (Forest Stewardship Council), enabling it to be selected by industrial customers as their plastic packaging manufacturerLast year, EPP improved production efficiency, ready to increase output if plastic packaging orders start recovering.

EPP employs innovative production processes to help reduce manufacturing waste, while offering a diverse range of packaging solutions to comprehensively meet customer needs, including paper packaging and bioplastic packaging.

The joint venture businesses in the insulation and automotive parts/accessories sectors in Thailand, India, and China have grown well in line with their respective industriesFor the joint venture in South Africa, the company and other investors have sent in consultants and experts across various fields to closely monitor, participate in problemsolving, and improve operational efficiency.

AssocProfDrChalieo added that the company has set a total investment budget of 466 million baht for the 2024/2025 fiscal year for product development, additional machinery, and production line improvementsMoreover, the Board of Directors resolved to propose to the 2024 Annual General Meeting of Shareholders to approve an annual dividend payment of 0.10 baht per share to shareholders, totaling 280 million bahtThe 2024 AGM is scheduled for July 242024. If approved, the record date for eligible shareholders will be August 22024, and dividend payment will be made on August 212024.

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