However, 2024 was also a year of challenges for the Company due to the uncertainty and economic difficulties in Thailand. The country faced numerous challenges, including a global economic slowdown, geopolitical conflicts, the consequences of household debt, and high financial costs, all of which led to domestic businesses delaying spending throughout the year. The overall economic situation led to a decline in advertising revenue for BEC Group in 2024, which amounted to THB 3,450 million, a total 13% decrease compared to the previous year by THB 513 million. However, the Company was able to increase revenue from licensing and other services by 15%, reaching THB 796 million, in line with its new business expansion plan beyond its core television industry.

At the same time, the Company remained focused on efficient cost management, successfully reducing costs continuously. In 2024, the cost of sales and services decreased by 5% compared to 2023, totaling THB 3,285 million. While selling and administrative expenses increased due to several one-time expenses, the Company’s efforts to control marketing and administrative costs effectively allowed it to reduce selling and administrative expenses by 8%, down to THB 808 million compared to 2023. Nonetheless, despite the 513 million reductions in advertising sales revenue, it was less than the decrease in costs and expenses, resulting in a net profit attributable to the Company of THB 96 million, a 54% decrease from the previous year. Nevertheless, BEC Group remains financially strong, with cash, cash equivalents, and short-term investments totaling THB 4,413 million in its consolidated financial statement, along with net cash flows from operating activities of THB 1,580 million at the end of 2024.

BEC Group has never stopped learning and proactively developing its organization to be ready for any challenging situation. At the same time, the Company has continued to develop good corporate governance practices and manage risks appropriately, ensuring the Company remains a leading organization in the entertainment industry with strong governance for over 55 years. The Company remains committed to steady and sustainable growth. As a result, in 2024, the Company received an “Excellent” rating (5 stars) in the Corporate Governance Report of Thai Listed Companies 2024, conducted by the Thai Institute of Directors.

Finally, on behalf of the Board of Directors, we would like to express our sincere gratitude to all shareholders, customers, agencies, business partners, actors, executives, and employees for their continuous support. We reaffirm our commitment to carrying out our duties to the best of our abilities to maximize benefits for shareholders and all stakeholders, ensuring fairness while caring for the environment and communities to grow sustainably together. We aim to make BEC Group a leader in the content and entertainment business in Thailand, building a solid foundation for the Company and seeking to increase revenue and profits.

Mr. Somchai Boonnamsiri

The Chairman of the Board of Directors