Description Raw materials and consumables used (incl.change in inventory) Depreciation ( in COS) Salaries, wages and other employee benefits (in COS) Utiilties (Power/Natural Gas/ Chilled water etc) Others
2009-10 2008-09 75.6% 6.1% 5.4% 8.7% 4.2% 100.0%
74.3% 6.3% 6.1% 10.4% 2.9% 100.0%
The selling expenses amounted to Bt. 490 million or 8 % of total expenses as compared with Bt. 492 million or 8.5% in the previous year. They principally included the shipment costs for the exported products, inland transportation charges, inland insurance on domestic sales, commission on sales, credit insurance charges as well as other selling expenses. The decrease in selling expenses, despite higher sales volumes is mainly due to lower selling expenses of the company on a standalone basis, due to lower average sea freight charges during the year. The commissions on sales have also been lower due to the lower sales realizations, partly offset by higher sales volumes. The administrative expenses amounted to Bt 195 million or 3.2% of total expenses as compared with Bt 194 million or 3.4% in the previous year. Management benefit expenses of Bt 49 million in the current year are higher than Bt. 38 million of the previous year. Despite increase in long term loans due to additional loans borrowed for the Cast Polypropylene project in Thailand, the finance charges have reduced from Bt 219 million to Bt 115 million, mainly due to lower LIBOR and EURIBOR rates during the year as compared to previous year. Since most of the company没s and its subsidiary没s loans are on floating interest rate basis, the company has been able to gain from the lower interest rates. Apart from this, the company has also repaid some of its loans, as per the repayment schedule. In addition to this, the company has prepaid some long term loans for better deployment of surplus funds. A fixed interest rate loan in Thai baht (Bt. 120 million) has been prepaid by the company and Euro 2 million has been prepaid by the Turkey subsidiary. Standalone Cost of sales (COS) amounted to Bt 2,546 million, representing 89.4% of the total expenses, higher than Bt 2,365 million or 87.9% of the previous year. The main reason for the higher COS is higher production volumes, partly offset by lower average raw material prices during the year.
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POLYPLEX (THAILAND) PUBLIC COMPANY LIMITED ANNUAL REPORT 2009-2010