In the year 2024, amidst the economic pressures notably the decline in the Thai automotive industry, high level of household debt and geopolitical conflicts, the Company managed to generate a record sale revenue, operating profit and net profit since its establishment, marking the tenth consecutive year of profitability. The management and all employees endeavored to execute the planned operations to achieve the set goals efficiently. We continued the investment to enhance our manufacturing capabilities and business infrastructures - the automated motorcycle battery assembly line was successfully installed within schedule and the additional solar cells installation on factory roof has been completed at the wastewater treatment plant, expanding total renewable energy production capacity to 950 kW. On the outlook, even though the economy is expected to be more uncertain, the Company will strive to build on this performance. Our strategic focus will be on offering a comprehensive line of quality products that effectively meet customers’ demand and further investing in automation for our facilities to enhance operational efficiency. The Company will aim for a higher profitability and continue its cost control initiatives with the target of becoming leading producer in the market.
Apart from the commitment to conducting a robust business, the Company places significant emphasis on sustainability. It identifies the organization's material topics and formulates a sustainability strategy that aligns with its vision, mission, and the concept of creating long-term sustainable value for stakeholders. The company, by each business unit, has developed operational plans and, importantly, conducts its business with an emphasis on environmental and social responsibility and stakeholder involvement throughout the value chain. The progress of actions is also reported periodically to the management and the Board of Directors.
In our efforts to tackle the material issues of 2024, the primary focus was on applying technology and innovation in business operations, reducing carbon emissions and preserving resources mainly at production and operation activities of the value chain. Compared with the previous year, we have cut our greenhouse gas (GHG) emissions to production (i.e. per quantity of lead melt) by 8 percent and reduced city water consumption by 5 percent. The implementation of new Enterprise Resource Planning system is in process and on target to go live in the middle of this year.
The highest priority at YUASA is the safety of our people. In 2024, zero lost time injury has been maintained continuously since 2019 while number of injuries per one million hours worked was reduced to 0.90 from 1.37 in the previous year. We also conducted the employee satisfaction and engagement survey for the first time and will utilize the result for further improvement. Along with this social progress, we have policies that outlines our commitment to respect and promote human rights in all aspects of our business operations and regularly organize activities to support in knowledge, service, and economic value creation to the nearby communities.
To drive the achievement of our sustainability operational plans, we are keeping a close eye on our emissions levels and developing plans for operational emissions reduction. The Company has laid out mid-term project plans for improvement of processes and machineries on efficient use of electricity and LPG fuel which are the two main sources of GHG emission. On behalf of the Board of Directors, I want to thank our people for their excellent performance in 2024 and all of our stakeholders for their collaboration, support and trust. YUASA will deepen sustainability management, accelerate the growth of our business and further our transformation journey towards enhancing our corporate value. Please continue your journey with us.
