Page 156 - Thailand Post Annual Report 2024

Part 1
Overview of the Organization
Part 2
Business Trends
Part 3
Business Model
Part 4
Strategies and Resource Allocation
Part 5
Risk
Part 6
Corporate Governance
Part 7
Operating Results
Part 8
Other Information
Analysis of Operating Results and Financial Position
Operating Results of Thailand Post and Subsidiary Company in 2024
THP and its subsidiaries earned a total revenue of 21,412.70 million baht in 2024, an increase of 115.89 million baht, or 0.54%, from 2023 which had revenue of 21,296.81 million baht. The total expenses in 2024 were 21,562.86 million baht, an increase of 316.09 million baht, or 1.49%, from 2023 when expenses were 21,246.77 million baht. In 2024, there was a net loss of 150.16 million baht, whereas in 2023, there was a net profit of 50.04 million baht, resulting in an increase in the loss in 2024 of 200.20 million baht or 400.08% from 2023.
Financial Position in 2024
As of 31 December 2024, THP and its subsidiaries had total assets of 26,119.60 million baht in 2024, a decrease of 1,290.38 million baht, or 4.71%from 2023 which had total assets of 27,409.98 million baht. The total liabilities in 2024 were 12,487.14 million baht, a decrease of 824.99 million baht, or 6.20%, from 2023 which were 13,312.13 million baht, while the total shareholders' equity at the end of 2024 was 13,632.46 million baht, a decrease 465.39 million baht, or 3.30%, from 2023 which amounted to 14,097.85 million baht
Liquidity in 2024
As at 31 December 2024, THP and its subsidiaries had the value of cash and cash equivalent of 1,659.46 million baht. Details of the net cash flow in each activity are as follows :
Net cash derived from operation activities
Net cash spent in investment activities
Net cash spent in financing activities
Impact from exchange rate
Net decrease of cash and cash equivalents
Cash and cash equivalents at beginning date
Cash and cash equivalents at ending date
Unit : million baht
2,551.88
(1,893.43)
(1,647.95)
3.22
(986.28)
2,645.74
1,659.46
Overall, the operating result, financial position, and financial liquidity of THP and the subsidiary in year 2024 decreased from the previous year. However, the financial liquidity is still considered normal.
The factors affecting the company's performance and financial status in 2024, apart from internal factors, also include significant external factors, including fierce competition in the logistics industry and the development of digital technologies that are increasingly replacing traditional postal services.
154 Thailand Post Company Limited