Year 2022 is another year of challenges in adapting ourselves to global changes in all dimensions including global economic slowdown, higher inflation, global oil prices which are rising and volatile due to conflicts among superpowers, climate change, and rapid changes in technological innovation. As a result, our organization must adapt and prepare itself for the Digital Era and low-carbon economy, focusing on the management to reduce greenhouse gas emissions and efficient use of energy and resources. However, in 2022, Thailand’s economy has been slightly expanded compared to 2021 due to the recovery of tourism sector and continuous improvement in domestic demands from both private consumption and investments.
Amidst challenges of changing circumstances, Sea Oil Public Company Limited (the “Company”) has continuously committed to the energy business, procurement and service business so that the organization will continuously grow, focus on management according to sustainable development guidelines and create balance throughout the business value chain, in economic, social and environmental dimensions in order to create long-term value for the organization. Sea Oil has continued to adjust its strategic and business plans to cope with economic impacts and to respond to needs of all customers, business partners and stakeholders of the Company in accordance with the changing context, such as developing and upgrading the quality of services, safety standards, nutrition innovation, technology development to improve operational processes for maximum efficiency and higher speed, creating jobs and promoting community economy as well as supporting and campaigning for the use of environmentally friendly products and equipment (Green Product).
Under the cooperation and determination in performing duties to the fullest capacity of the Board of Directors, executives and employees at all levels, the Company's overall performance in 2022 had a net profit of 441 million Baht, an increase of 91% compared to 2021, total sales and service income in 2022 amounted to 21,669 million Baht, increasing 92% compared to 2021. The increase in revenue was mainly from fuel sales revenue, the Company's overall fuel sales volume in 2022 was increased by 18% compared to previous year.
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The Company’s Board of Directors has recognized the importance on transparent and fair business operations, with responsibilities to society, communities and environment, taking into account all stakeholders, and has continuously developed good corporate governance. In 2022, Sea Oil was evaluated the corporate governance and ranked as 5-star or “Excellent” Thai listed company for the 4th consecutive year under the Corporate Governance Report of Thai Listed Company Program. We have also been approved to renew the membership of Thailand's Private Sector Collective Action Coalition Against Corruption (CAC) Project.
Ultimately, for and on behalf of the Company, the Board of Directors and I would like to express our gratitude to all shareholders, partners, financial institutes, business partners, and valuable customers and clients for trust and strong support in the business operation of SEAOIL Group. Last but not least, we would like to thank all executives and employees of the Company in devoting strength and energy to perform duties so that the organization can be driven to achieve its goals together. As a result, the Company's performance is at a very satisfactory level. Please be assured that our Company shall continue to focus on corporate development for continuous and sustainable growth to create optimal returns to all shareholders and to ensure that all stakeholders shall grow together with sustainability
