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2009 Operating Results (changed excess 20%)
Ref: SNC 2010/003
29 January 2010
Subject: 2009 Operating Results (changed excess 20%)
To: the Director and Manager of the Stock Exchange of Thailand
The operating results for the year ended 31 December 2009 of SNC Former PLC and subsidiaries in the excess of 20% comparing with 2008 was summaries as follows
Sales were Baht 4,901 million (2008: Baht 4,021 million), increased Baht 880 million or 22% resulting from:
- Sales of OEM business of Baht 2,963 million (2008: Baht 1,525 million), increased Baht 1,438 million or 94% mainly came from Laemchabang factory.
- Sales of cooling parts of Baht 1,488 million (2008: Baht 1,914 million), decreased Baht 426 million or 22% due to lower material price and economic slow down.
- Sales of automotive air-conditioning parts of Baht 320 million (2008: Baht 444 million), decreased Baht 124 million or 28%, due to economic slowdown, however the production volume became increasing in 4th quarter.
- Other sales of Baht 130 million (2008: Baht 138 million), decreased Baht 8 million or 6%, due to economic slow down. The major customers are in the electronics equipments industry and laundry machine industry.
Cost of goods sold of Baht 4,598 million or 94% of sales (2008: Baht 3,658 million or 91%). The percentage of cost of goods sold increased 3% because the proportion of OEM business increased.
Selling expense was Baht 33 million or 0.7% of sales (2008: Baht 45 million or 1.1%)
Administrative expense was Baht 116 million or 2.4% of sales (2008: Baht 128 million or 3.2%) due to cost and expenditure control.
Directors and management remuneration of Baht 37 million or 0.8% of sales (2008: Baht 36 million or 0.9%)
Interest expense of Baht 4.2 million (2008: Baht 12.2 million), decreased Baht 8.0 million due to loan repayment during the year. Moreover, all bank loan was repaid in December.
Net profit after tax was Baht 138.72 million decreased 40.5% or 2.8% of sales (2008: Baht 99 million or 2.5%). EPS was Baht 0.48 per share (2008: Baht 0.33 per share).
Yours Faithfully,
Samitt Palitagram
(Managing Director)
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