In a remarkable narrative of resilience and innovation, Central Retail Corporation Public Company Limited (CRC) has shattered its own records by closing the year 2023 at an all-time high. Under the visionary leadership of Mr Yol Phokasub, CRC not only navigated the turbulent retail landscape with agility but set a new benchmark for the industry with its groundbreaking achievements.
With a robust increase in revenue to THB 248,688 million, marking a 5% year-on-year growth, CRC has demonstrated unmatched prowess in the retail sector. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) soared to THB 32,436 million, an 8% increase compared to the previous year. This financial fortitude was further underscored by a net profit surge of 12%, reaching THB 8,016 million. In gratitude towards its shareholders, CRC announced an impressive dividend payout of THB 0.55 per share, a 15% hike from the previous year. This decision is poised for approval at the forthcoming Annual General Meeting.
Central Retail’s financial success is a testament to its dynamic ecosystem that expertly balances adaptability with resilience. By consistently exceeding its targets and maintaining robust financial health, CRC has solidified its leadership as the Next-Gen Omni Retailer and Wholesaler, dominating every business category it enters.
Beyond its financial triumphs, CRC’s commitment to sustainability has been equally spectacular. The company has taken significant strides towards reducing its environmental footprint by increasing its use of renewable energy to 15.7%. This leap forward was made possible through the installation of solar cell systems across 136 branches, which, in turn, led to a reduction of over 50,000 tons in greenhouse gas emissions. Furthermore, CRC’s support for local products, benefiting over 100,000 households, exemplifies its dedication to fostering community growth and sustainability.
These comprehensive efforts have not gone unnoticed. CRC has been lavished with national and global accolades, reflecting its status as a pioneering Green & Sustainable Retail and Wholesale model in Asia. Among its numerous awards are its ranking in the Top 5% for the Retailing category in the DJSI World 2023, a second consecutive selection in the DJISI Emerging Markets, a class ‘AAA’ rating in the SET ESG Rating 2024, and the Commended Sustainability Awards from SET Awards 2023.
Looking ahead, Mr. Phokasub unveiled the ambitious “CRC OMNI-Intelligence” vision for 2024, aiming to propel the retail and wholesale industry into a new era of brilliance. This forward-thinking strategy integrates artificial intelligence (AI) across all business facets to enhance customer experiences and empower staff through upskilling. With plans to renovate and expand over 40 new branches in Thailand and Vietnam and a keen emphasis on scaling B2B operations, CRC is set to deepen its integration within diverse communities, thus strengthening its network and enhancing long-term customer value.
Central Retail’s journey in 2023 is a compelling story of a company that has excelled in business and taken significant strides towards creating a sustainable future for all. As it strides confidently into 2024, CRC remains a beacon of innovation, sustainability, and unparalleled customer experience, indeed central to life.
Written by: Supaporn Pholrach
