Corporate News

Record-breaking Year for Central Retail: 2023 Profit Hits THB 8,016 Million, Up 12%, with dividends of THB 0.55 per share, 15% higher than previous year

Bangkok, 29 February 2024 – Mr. Yol Phokasub, Chief Executive Officer of Central Retail Corporation Public Company Limited or CRC announced, “Central Retail has achieved great business success in 2023, sweeping in a record-high revenue of THB 248,688 million (+5% YoY) EBITDA THB 32,436 million (+8% YoY) with a net profit of THB 8,016 million (+12% YoY). The company aims to distribute impressive dividends of THB 0.55 per share to its shareholders, which is 15% higher than the previous year with an approval pending at the Annual General Meeting. These outstanding results are a reflection of Central Retail’s robust ecosystem that is both adaptive and resilient to navigate business challenges, exceed set targets and maintain healthy finances. Confidently ending the year on a new high, Central Retail continues to reinforce its #1 position as the Next-Gen Omni Retailer and Wholesaler across every business category.

Beyond achieving exceptional business growth, Central Retail remains committed to driving meaningful sustainability initiatives for the benefit of society and the environment, enriching the lives of all stakeholders. This past year, the company has reaffirmed its dedication to good corporate governance, instilling sustainability principles across all aspects of its operations. As part of its ongoing efforts to combat the global climate crisis, Central Retail has significantly increased its use of renewable energy, reaching 15.7%. This has been achieved through the installation of solar cell systems across 136 branches, resulting in a significant reduction of greenhouse gas emissions by over 50,000 tons. Additionally, the company actively supports local products from over 100,000 households. These comprehensive efforts solidify Central Retail's position as a leading Green & Sustainable Retail and Wholesale model in Asia. Moreover, the company has received awards and recognition on a national and global level, including its selection as the Top 5% for the Retailing category in the DJSI World 2023; Selection in the DJISI Emerging Markets for the second consecutive year; Assessed as class ‘AAA’ for the SET ESG Rating 2024 (Classified as the highest rating in Thailand); Received the Commended Sustainability Awards from SET Awards 2023; As well as a 5-star or ‘Excellent’ scoring for ‘Transparency and Credibility of Corporate Governance Structure’ for the third consecutive year from the Corporate Governance Report for Thai Listed Companies 2023.

“Central Retail remains committed to business excellence in 2024, driven by the vision of "CRC OMNI-Intelligence." This innovative approach aims to elevate the retail and wholesale industry into "The New Era of Brilliance" by seamlessly integrating AI into every facet of the business. AI will not only empower staff through upskilling but also serve as a powerful tool to create hyper-personalised Omni Experiences into the next-level for customers. Embracing our DNA of continuous development and adaptation, Central Retail plans to renovate the stores along with expansion over 40 new branches in key formats in Thailand and Vietnam. Additionally, the company will focus on scaling up B2B operations and fostering deeper integration with diverse communities, strengthening network and long-term customer value. Central Retail prioritises the well-being of all stakeholders, remaining committed to driving sustainable growth that aligns with our brand purpose ‘Central to Life’,” concluded Mr. Yol.