27 Feb 2017 22:21:00
Management Discussion and Analysis Yearly Ending 31 Dec 2016
Management Discussion and Analysis Company name : UNION AUCTION PUBLIC COMPANY LIMITED Year : 2016 Quarter : Yearly Ending : 31-Dec-2016 Note : Registration No. 0107555000341 (Translation) AUCT-OP 27/2560 27 February 2017 Subject: Management Discussion and Analysis for operating results of year 2016 ending 31 December 2016 To: The President The Stock Exchange of Thailand The revenue from services of AUCT for year 2016 ending 31 December 2016 was at 601.83 million Baht, decreasing by -116.90 million Baht or -16.26%, compared to year 2015. Therefore, the net profit was at 125.61 million Baht, decreasing by -63.19 million Baht or -33.47%, which is reduced by the market downturn of the automotive industry despite it had special status in October 2016. Presently automotive industry market got better compared to last year. The Company has diversified the auction services to other types of assets such as agricultural vehicles, brand name product and service to the government sector and state enterprise to increase the opportunity and minimize the risk of reliability on automotive industry. Additionally, the Company has already set up Action and Auction Company Limited, which holds 50.998%, in order to increase the revenue for the Company by expanding its customer base to end users. Please be informed accordingly. Yours sincerely, Union Auction Public Company Limited -Signature- (Mr. Varunyoon Sila) Director Authorized Signatory This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.