MESSAGE FROM THE BOARD OF COMMITTEE

Beauty Community Public Company Limited

In 2022, the overall Thai economy grew by 2.6% per year. Despite lower than expected, the expansion was a result of a recovery in the tourism sector and a steady improvement in domestic demand. Overall, the beauty industry grew by about 4%with a trend of continual expansion in cosmetics and beauty businesses. The main supporting factor came from the improvement of COVID-19 situation, leading people to turn back for normal lives, go out, take off their masks, and work in the office instead of work from home. This also included consumer behaviors in caring of beauty, health, and skin. The growth of online social media has made consumers more accessible to innovative products. Most importantly, the beauty business brings happiness to everyone for their personality enhancement towards a good looking and beautiful image as always.

For the operating results of the year 2022, there was a total income of 365.46 million baht, or a decrease of 11.3% from the same period last year of 411.82 million baht, with the net accounting loss of 67.68 million baht, or a loss of 16.21% when compared to the same period last year of 80.77 million baht. This was due to a strategic adjustment of management approaches to increase business efficiency, in line with a control on operating costs and lower administrative expenses, as well as the reduction of organizational size to suit a new model of business. However, it is expected that the operating results shall return to better profits following a better business environment in 2023. Particularly, Chinese tourists have begun to gradually return for travel in Thailand. Meanwhile, the Company has determined to develop a variety of products in coverage of consumer needs, with marketing planning for a new image and more profitability, as well as the continual decrease in administrative expenses up to a good and satisfactory level towards the achievement of target growth as specified in the goals.

Finally, on behalf of the Board of Directors, I would like to thank all shareholders, customers, business partners, and employees for their good support. The management is confident that the Company shall reach a sustainable and steady growth in the future with transparency and adherence to good governance principles and social responsibilities towards maximum benefits to the community as a whole.

 

The Board of Committees

Beauty Community Public Company Limited