Eastern Polymer Group Plc (EPG), a Thai plastic moulder, expects its revenue to grow by 8% year-on-year in fiscal 2025, driven by overseas sales, including the sale of high value-added products in the automotive industry.
At the end of fiscal 2025, which runs from April 2024 to March 2025, total revenue should reach 14 billion baht, said Chalieo Vitoorapakorn, chief executive of EPG.
In the 2024 fiscal year, revenue stood at 13.3 billion baht, with profit reaching 1.1 billion baht.
The company mostly sold plastics for car parts and accessories under the Aeroklas brand to foreign markets.
Mr Chalieo believes sales in this category will increase because the company, which specialises in lightweight car parts and accessories, continues to develop innovative products which can be sold at higher prices than common-grade items.
Its products with energy-saving capabilities are sought after by its customers, he said.
EPG is focusing on sales in the Asia-Pacific region, causing it to adjust its business operations in the US.
In the future, Mr Chalieo said, the company will not directly sell its products under the Aeroklas brand in America, but will sell them through a sales agent.
The company also sells plastics used for insulation under the Aeroflex brand and plastic packaging under the Eastern Polypack brand.
From April 1 to June 30 this year, total revenue increased by 19.8% year-on-year to 3.5 billion baht, while profit decreased by 17.3% year-on-year to 255.8 million baht.
"Though consumer purchasing power in the domestic market is currently weak, our business continues to grow because overseas markets are healthier than Thailand," said Mr Chalieo.
He expects revenue from the sales of insulation products to increase by 6-8% this year due to good market prospects, especially in the US.
American buyers want high-quality insulation materials that meet safety standards.
Mr Chalieo said the company had also expanded its market to cover ultra-low temperature insulation material and air duct system segments.