The Company continues to follow the strategy to grow and to maintain market leadership for the television business, and the Company has consistently generated revenues from Global Content Licensing and Digital Platform business. In the year 2021 and 2022, the Company has expanded new businesses which consist of BEC Studio business, Music business, and Movie business. This is according to BEC Group’s long-term business strategy, with the plans to adjust its revenue structure by reducing the dependence on television advertising revenue and increasing the Digital Platform, Global Content Licensing, and new business revenues. For dramas production, the Company has plans for BEC Studios to produce dramas, series, and movies that will adopt international working and content production processes to support the increase of both domestic and international markets. For finance strength, the Company was successful in issuing and offering Baht 2,000 million debentures and herein we would like to thank you all bondholders for their confidence and supporting the Company.

However, in the past year 2022, besides continuously facing the COVID-19 pandemic from year 2021, the Company also confronted with challenges from various factors, including, the global economy that showed signs of slowdown, inflation from rising food and oil prices, the central bank raises interest rates to reduce inflation and consequently increased in financing costs, while domestic household debt remained at a high level. The mentioned factors are risks that affect many companies to slow down their media advertising spending in the year 2022.

BEC Group’s advertising revenue in FY 2022 was at Baht 4,448.7 million or decreasing 8% from the year 2021, while the revenues from Global Content Licensing and Digital Platform businesses totaling amounted to Baht 656.2 million or decreasing 20.6 % from the year 2021. This was due to a Global OTT platform player have postponed the purchase of contents from the global economic slowdown. However, the Company has managed to reduce costs continuously. The cost of sales and services declined by 6% YoY to Baht 3,560.8 million, while selling and administrative expenses increased by 3.8% YoY to Baht 795.4 million from higher expenses for the use of advertising media and dramas marketing. As a result, the Company has the net profit attributable to the Company in 2022 of Baht 607 million or decreasing 20.3% from the year 2021 at Baht 761.6 million. In addition, BEC Group had a net cash from operation of Baht 2,719.6 million and Cash and Cash equivalents of Baht 3,952.2 million as ending 2022, which is considered that the Company is extraordinarily strong financially.

Lastly, on behalf of the Board of Directors, we would like to express our gratitude to the shareholders, bondholders, customers, agencies, business partners, artists, executive committee, and employees for the ongoing support. We are committed to perform our duties to the best and create the utmost benefits for shareholders and all groups of stakeholders with fairness along with taking care of the environment, society and community to sustainably grow together with the Company and make BEC Group to grow as our vision, to be Thailand’s leading Content and Entertainment Platform, as well as building a solid foundation for the Company and seeking more sources of income and profitability.

Mr. Somchai Boonnamsiri

The Chairman of the Board of Directors