For the past six decades, Buriram Sugar Group has determined to build its strength sustainably, simultaneously to encourage the competitions in Thailand which mainly driven by agriculture to reach their full potential by applying the modern technology and innovation in agriculture products processing to create higher value of the agricultural products.
The Company remains committed and has established goals for sustainable business developments that will advance all dimensions of environment, societies, economy, and governance (ESG) and enhance the potential of both employees and sugarcane farmers to maintain sugarcane standards in terms of quality and quantity in accordance with the business plan.
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Mr. Anant Tangtongwechakit Chief Executive Director and Managing Director |
Mr. Sirichai Sombutsiri Chairman of the Board of Directors |
Thailand's economic outlook in 2024 has shown growth compared to the previous year, primarily driven by the continued recovery of the tourism and export sectors. Additionally, the sugar industry in 2024 has benefited from positive factors, such as drought conditions in major sugar-producing and exporting countries like Brazil, India, and Thailand. These adverse weather conditions have led to lower-than-expected sugarcane and sugar production in these countries, resulting in a continuous increase in global sugar prices throughout 2024. The average prices of raw sugar and white sugar have risen by 14% compared to the previous year. Furthermore, the depreciation of the Thai baht has also contributed to these trends.
Buriram Sugar Group operates under the philosophy of "Sugar Grown in the Fields." We are committed to sustainable business growth, adhering to good governance and ethical principles while taking care of all stakeholders. We continuously strive for self-improvement, research and development, innovation, and the adoption of modern technology to enhance the capabilities of both our business and sugarcane farmers. Our achievements reflect this commitment, including our sugarcane quality ranking among the top 10 in Thailand for the highest sweetness levels. Additionally, Buriram Sugar Factory Co., Ltd. (BSF) has been awarded the Green Industry Level 3 (Green System) certification and the CSR-DIW Award 2024 from the Department of Industrial Works (DIW), Ministry of Industry. These recognitions highlight our structured environmental management approach, continuous evaluation and improvement for sustainable development, and our responsibility toward society, local communities, and the environment.
Business Performance in 2024, the company recorded total revenue of 7,822 million baht and a net profit of 1,021 million baht, gain representing an 89% increase from the previous year. This growth was driven by a higher volume of sugarcane entering the production process, rising global sugar prices, and effective cost management, all of which contributed to the overall improvement in financial performance. Additionally, the company has continued to implement strategies for sustainable business growth. In 2024, TRIS Rating Co., Ltd. reaffirmed the company’s credit rating at “BBB-” with a “Stable” outlook. Furthermore, the company received an “Excellent” (Excellent CG Scoring) rating in the Corporate Governance Report (CGR) for 2024 from the Thai Institute of Directors Association (IOD) for the seventh consecutive year. This recognition underscores the company’s commitment to building a strong and sustainable business.
The global economy is expected to remain volatile in 2025, impacting Thailand’s economy across various dimensions, including the manufacturing and export sectors. Despite these challenges, the company is well-prepared to adapt and efficiently manage costs within its business network to ensure sustainable growth in line with its goals. However, beyond financial performance, sustainability remains a top priority. Over the past 60 years, the company has firmly believed that long-term business stability can only be achieved by ensuring the prosperity of all stakeholders. This principle aligns with our long-standing vision: “Ensuring stability in production and improving the quality of life for sugarcane farmers, while fostering sustainable growth in the sugar, renewable energy, and related industries—alongside communities, society, and the nation—with responsibility to all stakeholders.”
Finally, on behalf of the Board of Directors, the management team, and all employees, we would like to express our sincere gratitude to our sugarcane farmers, shareholders, customers, business partners, and all stakeholders for their continued trust and support in our operations. The company remains committed to being an organization that creates value and drives growth through our unwavering dedication and continuous development. We strive to achieve our strategic goals while seizing opportunities to generate positive outcomes for our organization, stakeholders, and Thai society as a whole.