The Board of Directors Report - Thai Wacoal Public Company Limited - Financial Overview and Operating Results

Oct 22, 2026

Uploaded by Bulrr

The Board of Directors Report outlines the 2023 operating environment shaped by geopolitical tensions, higher oil prices, and broad inflation that drove interest rates to multi-decade highs. It describes impacts on Thailand’s economy through slower exports, weaker tourism revenues, rising household debt, and pressure on consumer purchasing power, alongside growing emphasis on environmental sustainability. It presents company progress on circular economy and ESG recognition, highlights financial performance declines, and proposes 2023 dividends of Baht 0.70 per share.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages326

Reading Time13 h 42 min

AccessFree to download

Board of Directors Report

Financial Overview

Financial Ratios and Dividend Proposal

The Board of Directors Report Mr. Manu Leelanuwatana Chairman The global economy in 2023 still faced a slow-down following geopolitical disagreements, including the war between Russia and Ukraine and the conflict between Israel and Hamas. This caused oil price hikes and severe inflation, prompting central banks of various countries to increase interest rates up to its highest in decades. Such factors then led to a slow-down in the overall Thai economy from the past year. Exports continued to slow in line with the economic direction of key trading partners, revenue from tourism underperformed expectations, and household debt rose, causing a decline in consumer purchasing power. Additionally, there is increasing emphasis on environmental sustainability in today's world, which plays a part in the importance of sustainable development. Thai Wacoal Public Company Limited, in 2023, maintained its focus on developing quality and standardized products and services, creating new innovations to provide products which cater to customer needs, and operating an environmentally friendly business. The Company was first in Thailand to be awarded a Circular Economy Management System: CEMS certification, reflecting its determination to drive sustainable business growth in line with the circular economy concept by focusing on recognizing value and maximizing benefits when managing resources. The Company was also rated A in 2023 by the Stock Exchange of Thailand for SET ESGRatings, exhibiting the Company’s determination to operate a sustainable business with responsible practices in relation to the society and environment, while adopting good corporate governance management principles (Environmental, Social and Governance: ESG) . Additionally, the Company improved production efficiency and developed employee potential to ensure timely adjustments to constantly changing situations. In terms of operating results, the Company and its subsidiaries in 2023 generated Baht 3,608.92 million in sales, reflecting a 8.31% decrease, following a reduction in international sales in line with economic situations of key trading partners, and Baht 78.48 million in net profit, reflecting a 23.76% decrease. However, the Board of Directors has considered the Company’s performance and financial position and deemed it appropriate to propose to the Annual General Meeting No. 55 the payment of dividends for the year 2023 of Baht 0.70 per share, reflecting dividend payout ratio of 107.03%, to be paid on 21 May 2024, which would constitute the Company’s st 51 consecutive year of dividend payment. In addition to continuously increasing the potential and competitiveness of the organization, the Board of Directors recognizes the importance of improvements to the corporate governance system for efficiency, transparency, and verifiability. This was well-reflected in the Company being granted “Excellent” CG rating for the th 9 consecutive year and being ranked in the top quartile among its peer group of companies with market capitalization between Baht 3,000 million and Baht 9,999 million from the 2023 Survey of Good Corporate Governance practices for listed companies. On behalf of the Board of Directors, I would like to express my gratitude to all related stakeholders who have continued to cooperate and support the Company’s business, and I hope that you will all join efforts to drive the organization towards a stable and sustainable future going forward. (Mr. Manu Leelanuwatana) Chairman Financial Overview ปี / Year | งบการเงินรวม | CONSOLIDATED | 2566
2023 | 2565
2022 | 2564
2021 | | --- | --- | --- | --- | --- | | ฐานะทางการเงินและผลการดาเนินงาน(ล้านบาท)
สินทรัพย์รวม
หนี้สินรวมส่วนของผู้ถือหุ้นรายได้จากการขายและบริการรายได้รวม
กาไรขั้นต้น
กาไร (ขาดทุน) สุทธิ
ข้อมูลต่อหุ้น (บาท)
มูลค่าที่ตราไว้มูลค่าตามบัญชีกาไร (ขาดทุน) สุทธิราคาตลาดเงินปันผล
อัตราส่วนทางการเงิน
ความสามารถในการทากาไร (%)
อัตรากาไรสุทธิอัตราผ

FAQs

What macroeconomic factors affected Thailand’s economy in 2023?

Geopolitical conflicts contributed to oil price increases, severe inflation, and higher interest rates. This led to slower Thai economic growth, slower exports, underperforming tourism revenue, and rising household debt affecting purchasing power.

What sustainability and governance recognition did the company receive in 2023?

The company obtained Circular Economy Management System (CEMS) certification and received an “Excellent” CG rating for nine consecutive years. It was also rated A for SET ESGRatings in 2023.

What dividend does the Board propose for 2023 and when is it scheduled to be paid?

The Board proposes a dividend of Baht 0.70 per share for 2023, with a payout ratio of 107.03%. Payment is scheduled for 21 May 2024 after approval at the shareholders’ meeting.

Oct 22, 2026

Uploaded by Bulrr