Major Cineplex Group, as a leader in Thailand's entertainment industry, remains committed to creating excellent movie experiences that meet customer demands consistently. Throughout the past year, although the number of Hollywood films was limited, leading to poorer earnings compared to 2023, it proved to be a testament to the success of the Thai film industry, which has a market share of over 50% (Tollywood) for the second consecutive year. In 2024, we had 8 (eight) Thai films that surpassed 100 million baht in box office earnings, one of which is "Death Whisperer II; Tee Yod II" a film that our company co-invested in, and it has become the highest-grossing Thai film in the history of Thai cinema.
Another important mission to maintain our competitive edge, revenue growth rate, and long-term returns is the expansion of movie theater branches to 1,200 locations to cover all 77 provinces in Thailand. This aligns with our mission to be Tollywood. In 2024, the Company was able to proceed with investments to open theaters as planned, which received an excellent response after opening.
For the Concession business in the past year, the Company expanded the distribution channels of POPCORN MAJOR in various other channels, such as increasing KIOSK sales points and selling in various hypermarkets. Furthermore, to reduce costs and management expenses, we installed SOK (Self Ordering Kiosk) at the ordering points for consumers to access more conveniently and quickly. This also enhances service efficiency and improves service standards while increasing the average order value per transaction.
Our company is rapidly adapting to find ways to mitigate the impacts on our business by focusing on maintaining financial stability, strictly managing liquidity, reducing costs, and managing inventory fluidly. We emphasize careful investment in businesses that enhances the Company’s capacity to operate effectively and sustainably.
In 2025, amidst changes in consumer behavior and rapid technological advancements, we continue to recognize the importance of creating an exceptional experience for viewers and adapting to meet the diverse needs of our customers through investments in cutting-edge technology. This includes clearer audio and visual systems as well as designing spaces that offer comfort and cater to all lifestyles. Additionally, the number of Thai and Hollywood films in 2025 is expected to increase steadily, reflecting the awareness and efforts of producers to present quality works that meet customer demands.
Promoting Sustainability in the Cinema Business
In 2025, we aim to elevate our environmentally friendly business operations by focusing on reducing greenhouse gas emissions, using energy efficiently, and supporting the use of recycled materials in cinemas. We believe that business growth should go hand in hand with caring for the community and the environment, to ensure a better future for the next generation.
Supporting the Thai Film Industry
One of our important missions is to be a driving force for the growth of the Thai film industry and elevate it to international standards. This year, we are prioritizing the support of Thai film production that reflects global values, creating opportunities for directors, actors, and behind-the-scenes teams to showcase their talents. We also collaborate with international partners to expand opportunities for Thai films to reach wider audiences and to develop quality films that reflect the uniqueness and creativity of Thai people.
We are committed to promoting Thai cinema as one of the significant soft powers of the country, not only to create recognition but also to represent Thailand's identity in the eyes of the world.
Becoming a Leader in Sustainable Entertainment
Major Cineplex Group will continue to be a hub of entertainment that offers the best movie-watching experiences while expanding its network into new markets both domestically and in neighboring regions. We are committed to being part of inspiring joy for audiences of all ages.
Throughout challenges, the company has adhered to principles ensuring that all stakeholders receive equal importance, including employees, customers, partners, creditors, shareholders, and the community at large. We have initiated new endeavors to help all parties progress together as effectively as possible, whether by elevating cinema standards or developing new platforms to facilitate service provision.
The company places great importance on sustainability issues through the Governance and Sustainability Committee, which drives the company to operate according to a comprehensive development approach that encompasses all dimensions, including Environmental, Social, and Governance (ESG). In the past year, the company has promoted sustainable consumption through the procurement of environmentally friendly products, as well as various projects aimed at reducing environmental impacts through the Green Cinema initiative. This includes waste segregation in theaters, reducing plastic usage, recycling plastic bottles, and reducing carbon dioxide emissions to mitigate the climate crisis through the Solar Rooftop project. Another significant initiative is the transition to digital cinema package (DCP) delivery via an online film distribution system.
Furthermore, the Company remains committed to managing its business with transparency and good governance principles, continuously emphasizing the rights of shareholders alongside the importance of caring for employees. The company adheres to principles of human rights, equality and diversity, and inclusion, promoting a work culture that supports work-life balance and work-family balance. It also takes into consideration the role of stakeholders and the responsibilities of the board of directors, as reflected in the results of the corporate governance assessment by the Thai Institute of Directors (IOD), where the Company was rated at the highest 5-star (excellent) level. In addition, the Company continues to strive to improve the well-being of society and communities by supporting activities through the Major Care Foundation, which focuses on providing educational opportunities and promoting learning beyond the classroom with the concept of "A World of Opportunities." This initiative aims to expand learning spaces, enhance skills, and create opportunities for young people in remote areas to inspire, ignite their imagination, and help them apply their knowledge in a sustainable and high-quality manner for their future lives.
This is achieved through two main projects: the "Creation of Learning Film Rooms" in schools, with 75 schools in 64 provinces already benefiting from this project, and the latest initiative, the "Planting Vegetables for Happiness and Income," which transforms vacant spaces in schools into learning areas. This project encourages students to gain hands-on experience in growing pesticide-free vegetables, which can inspire them to develop this knowledge into future careers. The vegetables grown can also be used for school lunches, promoting health and safety, while surplus produce can be sold to generate income for the school, further supporting the sustainability of the project. Two schools have already implemented this model. In 2024, the Company was selected as a member of the MSCI ESG Index with an AA rating and was chosen as a sustainable stock (SET ESG RATING: AA) for the fifth consecutive year by the Stock Exchange of Thailand.
On behalf of Board of directors and management, I would like to express my sincere gratitude to all shareholders for support us during the crisis. This gratitude also extends to all employees for their agility and dedication that have enabled the Company including cooperation in working together to drive and create good performance in all parts of the Company continuously throughout the past year. The Company will continue conducting business with good corporate governance along with social, communal and environmental responsibilities for the best benefit of all stakeholders. We trust in your confidence and support in the Company in order to grow together sustainably.
Chairman of the Board
Chief Executive Officer