Announcing the company’s financial results from the year 2020, TOG’s CEO, Torn Pracharktam, has revealed the company's revenue from sales of goods and services, totaling 1,838 million Baht. This constitutes a decrease of 8%, from the same period last year, with a net profit of 69 million Baht, which represents a decrease of 48% from the same period of the previous year, which is a direct result of the lockdowns in various countries around the world, due to the ongoing COVID-19 pandemic crisis.
In 2021, uncertainty from the impact of COVID-19 lockdowns may continue to have a negative affect on the volume of product orders. It is anticipated, however, that effective vaccines against COVID-19 and their successful widespread distribution in various countries will help the world economy begin to recover.
Following the continued growth of TOG USA Inc., in 2020, the company moved its warehouse from Kentucky to Missouri, within the United States, at the end of 2020. This relocation was aimed at expanding warehouse storage capabilities, to facilitate larger volumes of distribution. On January 4, 2021, we began selling from the new location, which has been able to maintain satisfactory supply fill rates and our expected punctual delivery performance, without interruption. Moreover, the new location has allowed work on a more standardised time zone, to process orders and deliveries, on United States Central Standard Time, and more uniformly serve customers all the way across both east and west coast time zones of the United States, from Eastern Standard Time to Pacific Standard Time.
In addition, the establishment of TOG Europe Company (TOG EUROPE SP Z O.O.), in Poland, is part of this year's strategic plan, to optimize the delivery of products, in terms of convenience and speed, to EU and Scandinavian customers. Operations there are expected to commence within the first quarter of this year.
TOG has, thus, set a sales target increase of 6-8% in 2021, compared to 2019, continuing a proactive strategy to secure new and retain existing customers in the US, EU and Asia Pacific.