In 2021, the COVID-19 outbreak continued to disrupt the global economy and the trend of digital disruption has also accelerated in every industry. As a result, responses to COVID-19 have speeded the adoption of digital technologies in several ways which it has had more impacts on the demand for IT products.
The year 2021 was another year in which Synnex (Thailand) Public Company Limited (SYNNEX) has grown significantly. With regards to SYNNEX’s operating performance for 2021 recorded the revenue from sales of Baht 37,085.4 million, an increase of 15.4% from the previous year, attributable to sales volume of communication devices, consumer products, and commercial products with the growth of 10.4%, 20.5%, and 16.2%, respectively and gross profit margin increased of 26.7% from the previous year. SYNNEX still maintained a high gross profit margin with 4.81%. In 2021, the selling expenses were slightly increased from the previous year due to the easing lockdown and restriction and the relaxed control measures to allow more promotional activities. However, SYNNEX still strictly and effectively managed the operation cost, including currency fluctuation during the past year, the Company had gain on exchange rate in amount of Baht 124.8 million. As a result, the Company had total net profit at Bath 856.5 million in 2021, an increase of 33.4% from 2020. SYNNEX continues to make every effort to an industry leader in IT Ecosystem by expanding products and services in other channels, including creating and developing innovation to strengthen its business along with the delivery of IT products and associated IT services both before and after- sales service under the “Trusted by Synnex” corporate brand logo to achieve the mission of being an IT Ecosystem leader. Besides, the Company established Synnex Incubation Company Limited which aims to expand an ecosystem and investment in potential digital technology business and Startup business, focusing on the concept that combined their strength for business growth. In addition, SYNNEX invested in Swopmart Company Limited through Synnex Incubation Company Limited in 2021 and has made a tangible move to find new partners to fulfill its ecosystem and expand its business, which is expected to be the golden opportunity for the business growth of the Company.
SYNNEX operates its businesses ethically and responsibly in accordance with the Sustainable Development Goals in parallel with its commitment towards communities, society, and environments which the Company established “SYNNEX Together Stronger”, a donation project which our staffs and business partners contribute funds for the purchase of COVID-19 medical equipment to treat patients "COVID-19 for King Chulalongkorn Memorial Hospital as well as providing IT equipment to various organizations to help combat the recent surge of COVID-19 in the previous year. The Company also provided and delivered the computers and computer peripherals to several vocational institutions, such as Pua Technical College, Nan province and 7 institutions network. Moreover, Synnex has continued "Trusted by Synnex E-Waste" campaign for the two consecutive years to help reduce electronic waste and global warming by handling and managing e-waste correctly, including turning waste into value by recycling and its income from the campaign gave to CSR Fund for benefit society.
On behalf of the Board of Directors, we would like to thank you to all shareholders, business partners, financial institutions, government agency, private organization, and all customers for your continued support and confidence in the Company. We also thank you the Executives and all employees for your sacrifice and dedication to perform duties to overcome obstacles. With all of you, the Company can achieve its business goals. Lastly, we encourage everyone to get through the COVID-19 crisis together and the Company adheres to conduct business under the principles of good corporate governance.
(Supant Mongkolsuthree) (Sutida Mongkolsuthree)
Chairman Director and Chief Executive Officer