Message from Chief Executive Officer

Dear shareholders,

The Company has focused on managing the business prudently, prioritizing sales quality. It maintained a gross profit margin of 25.82%, an EBITDA margin of 12.70%, and generated cash flow from operations of Baht 6,508.02 million

2025 is a challenging year for the retail business in the Home Improvement and Modern Trade sectors, with issues such as uneven consumer purchasing power recovery, increased operating costs, and high competition. As a result, the Company has focused on managing the business carefully, prioritizing the quality of sales, maintaining gross profit margins, and managing cash flow, rather than focusing on quantity growth.

In the past year, the Company achieved key performance results, with sales revenue of Baht 31,601.09 million and Same Store Sales Growth as of -6.24%, reflecting the impact of economic conditions and recovery of consumer purchasing power. However, the Company was able to maintain a gross profit margin of 25.82%, an EBITDA margin of 12.70%, and cash flow from operations of Baht 6,508.02 million. These results reflect the Company’s efficient inventory management, disciplined cost control, and ability to maintain profitability under challenging business conditions.

As part of the strategy, the company has adopted a “Precision & Efficiency-driven Retail” approach to management , focusing on increasing returns per store, managing products and inventory to meet the specific needs of each area, controlling selling, general, and administrative (SG&A) expenses in line with sales, and using systems and data as the foundation for pricing, promotions, and stock replenishment.

In terms of sustainability, the company has integrated Environmental, Social, and Governance (ESG) issues into policies and operations in a systematic manner. resulting in business operating responsibly, transparently, and in alignment with international best practices. This commitment has been continuously recognized through external evaluations, such as receiving an AAA rating in SET ESG Ratings, an excellent (5-star) Corporate Governance Rating (CGR), selection for the S&P Global Sustainability Yearbook, and the results of the ASEAN CG Scorecard assessment.

For 2026, the company will focus on driving quality growth while maintaining financial discipline, strong cash flow management, and enhancing the company’s operations through system and data-driven governance to create long-term value and sustainable returns for shareholders. As we enter our 29^th year in business, we will continue to uphold good governance, social and environmental responsibility, fostering sustainable growth with all stakeholders. On behalf of the Board of Directors and Management, I would like to express my sincere gratitude to all shareholders for their continued trust and support