Page 21 - KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED : ANNUAL REPORT 2024

KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED 21

Business Overview Under the new KEX brand, KEX is dedicated to redefining
express delivery by leveraging SF Express’s global
network and advanced technology to offer faster, more
KEX at a Glance reliable, and innovative solutions. KEX remains committed Operational Highlights and Financial Summary
to elevating Thailand’s express delivery industry,
KEX Express (Thailand) Public Company Limited (KEX) prioritizing customer trust and satisfaction, which has
was founded in 2006 with the mission to provide reliable, always been the core of our business operations. KEX has
efficient, and innovative express parcel delivery services also expanded its offering to enable customers to send
to businesses, households, and social networks across express parcels abroad. A notable development in
Thailand. Over the years, KEX has evolved from handling 2024 was the launch of “Global Express GE+,” enabling
Operational Highlights and Financial Summary
a mere five packages on its inaugural day to becoming customers to send express parcels to numerous

a leading express delivery brand in the country. The destinations. This service underscores KEX’s dedication

company achieved a significant milestone by listing on the to connecting Thailand with global markets.
Stock Exchange of Thailand on December 24, 2020.
KEX remains committed to strengthening its market
In July 2024, KEX underwent a rebranding, changing position by focusing more on high-yield customers. Key Milestones

its name from Kerry Express (Thailand) Public Company By refining its service offerings and operational efficiency,
Limited to KEX Express (Thailand) Public Company the company aims to enhance customer satisfaction,

Key Milestones
Limited, as part of the long term strategy to drive improve profitability, and sustain long-term growth in the

business transformation and smooth transition to align express delivery industry.
with the future development of the Company.
For the year ended December 31, 2024, KEX reported
Throughout 2024, KEX continued to enhance its services total revenue of THB 9,449 million. While this figure Business Overview
and optimize its operations. To better align with its reflects the company’s substantial operations, it also

strategic direction of focusing on high-yield customers, indicates challenges faced during the year, as the
the company restructured its customer segmentation. company reported a net loss.
Business Overview
While the Consumer-to-Consumer (C2C) segment
remained unchanged, the Business-to-Business (B2B) KEX remains steadfast in its mission to provide exclusive
and Business-to-Consumer (B2C) segments were express delivery services across Thailand. Despite the
reclassified as Corporate Key Account (CKA) and challenges faced in 2024, the company’s focus on

Strategic Key Account (SKA), respectively. This high-yield customers, international expansion, and

adjustment allows KEX to provide more tailored leadership transformation positions it well for future
and value-driven services to key customers while growth and the continued delivery of value to its
maintaining its strong presence in the C2C market. customers and stakeholders. Governance Structure and Practices

Revenue Breakdown by Segment

For the years ended 31 December (Unit: THB million)
Governance Structure and Practices
2022 % 2023 % 2024 %

Sales and Parcel Delivery Services Income 17,003 100% 11,209 100% 9,070 100%

Consumer-to-Consumer (C2C) N.A. 4,973 43% 4,623 49%
Corporate Key Account (CKA) N.A. 1,326 12% 1,109 12% Financial Performance

Strategic Key Account (SKA) N.A. 4,910 43% 3,338 35%
Financial Performance
Others N.A. 247 2% 369 4%
Advertising Income 0.05% 14 0.13% 10 0.11%

Total Revenue 17,003 11,470 9,449

Remark:
C2C = Customers that use our services through shops channels, applications, website, and call center. Sustainable Development
CKA = Corporate Key Account which uses quoted contract pricing and has standard contract.
SKA = Strategic Key Account which has the highest volume and fully quoted contract pricing and contract terms.

Sustainable Development