Dear Shareholders,
Pruchya Piumsomboon, Ph.D., P.E.
Chairman of the Board of Directors
In 2021, the negative impact on business sector will continue upon expansion of the COVID-19 epidemic. Such unfavorable situation affects directly steel and energy business of CHOW Steel Industries Public Company Limited. The steel manufacturing will be suspended until the last quarter of the year as a result of customer's postpone, which means that the steel segment will lose another opportunity to earn the profit as planned. On the other hand, the spreading of COVID-19 is a major obstacle for the expansion of our power plants overseas.
Nonetheless, the coalition between the Board of Directors and the Executives in determining strategy and adjusting business plan in 2021 to cope with the current situation leads to expansion of domestic energy business thanks to an advantage of being the expert in solar power plant business recognised by many countries. Such expansion in local scale generated benefits and income. To conclude, the growth of our corporation this year continues with profit in cash from business operation, as well as the surge of gross profit in 2021 when compared to 2020 including the significant rise of the Group's EBITDA from 2020.
With our adherence to the approach of business development in coupling with the integrity, corporate governance and sustainable development, CHOW Steel Industries Public Company Limited considers benefits of all stakeholders as a priority as well as the social responsibility.
Regarding the corporate governance in the previous year, CHOW Steel Industries Public Company Limited received the Very Good Award from the Thai Institute of Directors (IOD) with support from the Stock Exchange of Thailand (SET) base on the survey on the corporate governance of Thai listed companies for the year 2021. Furthermore, the Company is selected by the Office of the National Anti-Corruption Commission (NACC) for Transparency in 10th NACC Integrity Awards which marks our success in the endeavor to develop the management and carry on the policy of the Board of Directors and Executives which aims to drive the Group toward as an organization of transparency, accountability, morality and social responsibility in a sustainable approach.
Furthermore, the Company has coordinated with the government and private sectors in developing the communities located around our steel manufacturing plant to leverage the well-being of the resident which reflects our commitment in addition to the good corporate governance and the business operation that adheres to the sustainability approach. CHOW Steel Industries aspires to support community development, economy growth despite of the crisis and challenging economic situation and the obstacles during the COVID-19 pandemic.
At this moment, on behalf of the Board of Directors, executives and all employees, I thank our shareholders, business alliance for your consistent trust and support in our business operation. We oblige to conduct business under the good corporate governance, corporate ethics to bring about the utmost benefits to all stakeholders, including the environmental care. Our ultimate goal is to expand business, provide stable return and sustain business growth for the Company Group, as well as to carry on the sustainability to the Thai society.