Ms. Sureeyot Khowsurat, Managing Director of Ubon Bio Ethanol Public Company Limited (UBE), outlined the company's business direction for 2022, highlighting a robust growth forecast despite external challenges such as the Russia-Ukraine conflict impacting global oil prices. UBE anticipates achieving a planned growth rate of 15-20%, supported by strategic adjustments in response to market conditions. These include stringent expense management, tailored marketing strategies focusing on high-value products, and innovative initiatives aimed at expanding the market for organic cassava and cassava flour products.

Furthermore, UBE is advancing its investment initiatives this year with a budget of approximately 550 million baht aimed at enhancing quality and expanding cassava production capacity to meet anticipated market growth. Additionally, the marketing strategy includes expanding distribution channels for the "Tasuko Cassava Batter Mix" the crispy flour products, operated by Ubon Sunflower Co., Ltd., a subsidiary of UBE. These products cater to consumers who enjoy fried foods and are gluten-sensitive, with plans to increase sales in major retail outlets in the second quarter to broaden their customer base.

Mr. Chun Phokaisawan, CFO at UBE, reported that for the first quarter of 2022, ending March 31, the company achieved total income of 1,538.0 million baht, marking a significant increase of 406.1 million baht or 35.9% compared to the same period last year. The net profit reached 115.6 million baht, showing an increase of 77.7 million baht or 204.8%, driven by growth in the tapioca starch and cassava flour industry sales and increased ethanol sales volume. These factors contributed to the overall improvement in operating results.

However, compared to the same period the previous year, UBE's income from the tapioca starch and cassava flour production and distribution business was 586.6 million baht, reflecting an increase of 69.5 million baht or 13.4%. Notably, there was a rise in sales of organic cassava flour. Regarding income from the ethanol business, it amounted to 913.3 million baht, an increase of 316.3 million baht or 53.0%. This growth was attributed to higher sales volumes of industrial-grade ethanol and recovering sales of fuel-grade ethanol from a pandemic-induced low base in the previous year. Furthermore, sustained high ethanol prices contributed to UBE's increased profits.

Looking ahead to the second half of the year, UBE anticipates continued improvement in performance. This expectation is driven by the rising demand for ethanol following increases in gasoline prices, along with anticipated orders in the food business group, particularly for cassava flour and organic starch products scheduled to ramp up gradually. Mr. Chun expressed confidence that these factors will enable UBE to achieve its income targets.