Message from the Board

The three-year COVID-19 pandemic left its mark on 2022 with a new normal of complexity, uncertainty and opportunities. China’s COVID-19 lockdowns further exacerbated risks in the global supply chain. Geopolitical conflict and tension, war between Russia and Ukraine along with the US-China trade war adversely impacted many businesses and have potential to stall recovery. This overall global turmoil posed challenges this year along with opportunities to leverage synergies for inclusive and resilient growth.

Delta’s vision of sustainability and green transformation for a better tomorrow is already happening today. Leveraging our future-ready business platform, Delta Thailand has emerged stronger driven by accelerated customer demand. For 2022 our robust strategy enabled us to continue our strong growth momentum and leadership in key markets. Here, we supported structural growth toward electrification, digitalization, and green energy. We expect EV to grow the fastest as global electrification efforts accelerate. Demand for essential infrastructure including ICT and servers will also be strong in line with high data processing demand and the acceleration of high-performance computing. As we navigate the energy transformation trends, Delta will continue to serve our customers in all areas by driving innovation in automation, renewable energy, energy storage and energy management.

Delta Thailand is well-positioned as a top-performing responsible supplier to global customers. We put maximum effort to working with our partners to minimize disruption, find solutions and recover for continuous operation. Despite major headwinds throughout 2022, we achieved headline revenue of USD 3.3 billion and net profit of USD 434 million, a sharp YoY growth of 28% and 111% respectively. Our EV and server power supply business continued to keep momentum this year despite the broader tech slowdown. Although EV-related production was limited on the supply side due to the shortage of semiconductors and other components, we have accelerated ongoing capacity expansion to capitalize on the fast-growing electro-mobility trend.

BMoving forward this year, we are scaling up our regional business to become an integrated solutions provider. Across India, Australia and SEA, we have made significant inroads towards the energy infrastructure solutions segment to support the EV ecosystem. Datacenter infrastructure and industrial automation solutions also experienced very good growth in Thailand, Vietnam, and India. The digital drive towards industry 4.0 and 5G will further fuel demand for our automated industrial technology and ICT infrastructure.

Delta takes a proactive approach to seizing opportunities. Our production capacity across Thailand, India, Slovakia continues to optimize and expand to meet customer’s long-term business growth and demand. In addition, we accelerated our investment in localized supply chains and launched productivity improvement solutions through smart manufacturing implementation to mitigate risks from ongoing logistics and cost issues.

Finally, on behalf of the Board of Directors we would like to express our sincere appreciation to our shareholders, businesses partners, financial institutions and all relevant authorities for your continued trust and support. We would also like to thank the company management and all employees for their dedication and relentless efforts in making fiscal year 2022 a remarkable success.