"The Company is determining to continuously develop and improve the quality of our products and services"

Dear Shareholders

Vietnam’s exports of agricultural products reached unprecedented heights in 2024, with multiple sectors achieving significant milestones especially in 4 categories namely vegetables, fruits, coffee and cashew nut. In this regard, the Company’s fertilizer sales volume grew at 3 percent to the total of 174,752 tons as a result of NPK fertilizer sales volume that rose at 12 percent to 142,660 tons. This is due to a solid increase in domestic demand in Vietnam from the improving agricultural prices. The farmers then select the premium quality NPK products to improve yield and quality of their crops.

For the factory area management service, Baconco has a total factory area for leasing available at 86,646 square meters and all are fully occupied. This is because Phu My industrial estate has became the main fertilizer hub for traders and manufacturers to distribute their products in Center and Southern part of Vietnam and exports. The Company as an integrated part of the business group of Thoresen Thai Agencies Public Company Limited in Vietnam gains a positive synergy as we are among the top priority for traders and importers. Since Thoresen Group offers a full logistics service from loading and/or discharging from vessel, warehousing, packing and inland transportation. Our revenue from factory are management and other income has a continuous growth. And for the year 2024, PMTA delivers a total revenue of Baht 3,849.72 million and a net profit of Baht 150.62 million which is a significant growth of 159 percent from the previous year.

The Company operates the business with commitment to growth, we never neglect to fulfill social responsibility. Baconco’s management retained their full efforts on energy saving and regulatory compliance and Baconco always maintain its high operation efficiency in environmental production management to meet and exceed the requirement of the Vietnamese authority.

The Company is determining to continuously develop and improve the quality of our products and services. We strongly believe that the experiences and determination of our managements and employees shall lead the Company towards sustainable growth. On behalf of the Board of Directors, managements and employees, we would like to thank you all shareholders and stakeholders for your continued supports.