Page 55 - One report AUCT2024_Eng

Part 1
Business Operation and Operating Results
Management Discussion and Analysis
Overview of Performance in 2024
The Company's operating results in 2024 increased from the previous year with total revenue of 1,303.46 million Baht, an increase by 62.85 million Baht, or 5.06% owing to the increase in the number of vehicles entering the auction yard and ending the auction. These resulted in the increase in operating profit of 30.00 million Baht, or 6.52% and net profit of 23.36 million Baht, or 6.72% compared to 2023 due to an increase in emmplyee expenses, development of Information Technology System expenses and auction costs which varied according to the number of vehicles entering and ending the auction, such as auction expenses and transportation costs which fluctuated as per the increase and decrease of oil prices, as well as the renovation of branches and opening of new warehouses to improve service quality and accommodate the increasing volume of vehicles.
In 2024, the loan approvals by the financial institutes were still stringent, which corresponded to the slowdown in new car loans as witnessed from the decrease of 2024 new car sales by 26.2% compared to 2023. Household debts remained high and personal loans with vehicle registration as collateral continued to expand which indicated the need to use revolving cash for daily expenses or to carry on an occupation. Those factors supported the continuous flow of vehicles into the auction businesses. The Company's plans to increase business partners, both financial and non-financial institutions, as well as plans to expand warehouses in Bangkok outer ring road in early 2025 and reduce the cost of transportation that causes air pollution and greenhouse gas emissions including managing auctions effectively.
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บริษัท สหการประมูล จากัด (มหาชน)
55
Union Auction Public Company Limited