Page 47 - One Report Thai Final_ENG_2021

Tycoons Worldwide Group (Thailand) Plc.

On January-December 2021 Providing fruits to the villagers who have suffered and lack
of income to be a concern and encouragement during the COVID-19 situation.

4. Management discussion and analysis (MD&A)

4.1 Overall past performance

In 2021, sales revenue was 9,060MB increased by 51.32% compared to 5,987MB in 2020.
This in total sales is attributable as to 59.56% to domestic and as to 40.44% in international
sales. The sales increase mainly due to the recovery of industrial demand increased. As a
result, the sales volume of steel products has increased. However, due to the control
measure of carbon emissions in mainland China, it is mandatory to reduce the production
volume of steel products, resulting in an imbalance of market supply and demand, which
makes the price of steel highly increased. Other income 33 MB decreased 14 MB or 30.39%
comparing with 2020 mainly due to the exchange rate decreased.

The net profit of 2021 was 377MB increased by 217.37% compared to net loss (321) MB
of 2020. That is because mainly due to the operating income gain were 478MB, none-
operating gain were 33MB, Share of loss from investment in associate of 88M. Income
tax expense 8MB, Finance cost of 38MB.

In 2020, sales revenue was 5,987MB decreased by 37.39% compared to 9,562MB in 2019.
This in total sales is attributable as to 73.98% to domestic and as to 26.02% in international
sales. Mainly due to the decrease in sales of steel products, and the severe economic
recession due to the global epidemics of COVID-19. Other income was 47 MB, decreased
16 MB or 25.35% compared to the year 2019, mainly due to gains on disposal of land,
building and equipment decrease, coupled with the decrease in foreign exchange gains and
other income increased in 2020.The net loss of 2020 was (321) MB decreased by 677 MB

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