In 1Q21, we had THB 31,579.5 million in total revenue, growing 80.6% YoY and 20.3% QoQ.   Revenue from Natural Rubber products, which accounted for 50.9% of total revenue, increased 18.0% YoY and 30.2% QoQ to THB 16,088.6 million, driven by the ASP that rose 10.3% YoY and 9.1% QoQ alongside prices of NR and other commodities on the global markets. Sales volume also increased 7.0% YoY and 19.3% QoQ to 326,183 tons. Gross profit margin for NR products improved significantly to 11.2%.

 

Revenue from gloves, which accounted for 49.0% of total revenue, rose 303.3% YoY and 11.5% QoQ to THB 15,473.7 million on the back of a robust global demand amid the vaccine rollout in many countries, with the ASP increasing by 275.4% YoY and 20.3% QoQ. Sales volume, however, bore the brunt of the global container shortage and shipping congestion and declined by 7.3% QoQ to 6,744 million pieces. Gross profit margin for gloves reached a record high of 75.9%.

 

The gloves business segment will reach an annual installed production capacity of 50 billion pieces by 2022 and 80 billion pieces by 2024.

 

On the strength of our NR and glove businesses, we recorded an all- time-high net profit of THB 5,958.5 million or THB 3.88 per share in 1Q21, increasing 597.6% YoY and 8.4% QoQ. Gross profit margin and net profit margin rose to 42.9% and 18.9%, respectively.

 

Interim dividend of S$0.0378 to be paid on 11 June 2021