Page 157 - 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 Thailand Post’s Financial Operation
Based on the current intense competitive business environment in both the parcel delivery and e-commerce businesses, the country's overall economic outlook that continues to slow down due to rising oil costs in combination with changes in the behaviors of buyers and sellers of goods after COVID-19 outbreaks, THP has been forced to focus on service quality capable of meeting the needs of a broader range of users, while conducting business with the goal of reducing the potential impact on stakeholders in terms of sustainability, including the environment, social responsibility, governance, and economy in a balanced manner.
THP holds status as a state-owned enterprise with the mission of providing services in receiving-sending messages, goods, financial services and agency services for people nationwide. Therefore, it is necessary to provide service provision units, so people in all remote areas can have equal access to basic postal services such as letters, postcards, parcels, etc. When compared to service revenue, the burden of operating costs for basic postal services has resulted in losses from public service obligation (PSO), with losses from PSO in 2020 of 3,072.07 million baht, in 2021 of 3,336.16 million baht, in 2022 of 3,319.73 million baht, and in 2023 of 971.80 million baht.
Public Service Obligation (PSO) Performance 2020 - 2023
Unit : million baht
4,067.42
3,095.62
6,896.77
3,824.70
1,459
6,840.39
3,540.23
3,336.16
2021 2022
971.80
Unit : million baht
Revenues
cost PSO
7,142.82
3,823.09
3,319.73
3,072.07
23,085
21,223
2020
Financial Performance 2021 - 2024
22,962
19,491
20,934 20,847
2,504
8 79
2023
20,994 21,223
2,215
(435) (1,427)
2021
(585)
(36) (2,886)
2022
2023
(42) (187)
2024
Revenues
Expenses income tax Net Profit (Loss) EBITDA
Annual Report 2024 155