AGE
AGE targets coal sales volume of 4mn tons next year, 20% higher than this year. It expects coal sales volume to hit its target of 3mn tons this year and this will be a record high. Demand both at home and abroad is still growing. It has 3-4mn tons of backlog now and this will gradually be delivered to customers through early next year. As for logistics services, it expects revenue contribution to be 10% of its total revenue. (Thun Hoon, 30/11/18)
ANAN
ANAN continuing to set up property projects along sky train lines. It expects presales of Bt35.1bn this year. It plans to launch one property project before the end this year. Condominium transfers are expected to be Bt15bn in 4Q18. Backlog is Bt49bn and all of it will be booked as revenue through 2021. It targets to increase foreign buyers. (Thun Hoon, 30/11/18)
Comment: And the founder has bought back some THB 40 mn worth of shares in the past 7 days O__o
AOT
AOT reported FY2018 earnings of Bt25.17bn, a record high, +21%YoY. It reported passenger pass-through of 139mn and flight volume of 874k, supported by tourism growth and ICAO red flag release. (Kao Hoon, 30/11/18)
Comment: Booyah! Who needs earnings growth?!
BCPG
BCPG unveils its five-year business plan (2019-2023). It targets EBITDA growth of 13-15% in five years. It will budget Bt440bn to acquire companies. It is dealing to acquire 4-5 renewable energy power plant projects with electricity production capacity of 100-300MW in Australia, Laos and Vietnam. The decision will be known next year. (Kao Hoon, 30/11/18)
Comment: A wannabe acquisition machine. But we have question marks over the quality of the purchases.
BEM
BEM tests operation of extended Blue Line train system, Hua Lampong – Lak Song. It will open full service in September 2019. It believes that passengers will increase by 100k per day, pushing revenue up. (Kao Hoon, 30/11/18)
CPF
CPF has budgeted Bt515mn to acquire a frozen pizza and snack manufacturer, a part of the FSI group, doing business in North America. This give it entry into the North American market. CP Vietnam was given an award naming it as one of the top 100 sustainable company. (Kao Hoon, 30/11/18)
CRD
CRD expects 4Q18 earnings growth. It is dealing for a Bt800mn construction contract that will be concluded this year. It is also bidding for construction projects with total value of more than Bt2bn. The results will be known throughout next year. It expects backlog of Bt1.6bn next year from the current Bt800mn. It expects revenue of Bt1.3bn this year. (Thun Hoon, 30/11/18)
DRT
DRT targets revenue growth of 5%, supported by growing demand. It expects 4Q118 results to be good as customers continue to increase. It is trying to bump up revenue from CLMV markets and it is preparing to propose a production expansion plan for board approval. (Thun Hoon, 30/11/18)
Comment: The problem for Thai companies is that the CLMV region (ex Vietnam) does not have such a large market size…yet of course. Hopefully in the decades to come yes.
TIGER
TIGER was awarded the construction of the Community Mall Saima Park & Market (Phase 2) worth Bt147mn. Construction will begin in early December and revenue from this project will be booked in 4Q18. (Thun Hoon, 30/11/18)
Comment: hey hey hey an IPO whose share price has made it back above the original IPO price!!
XO
XO expects 4Q18 earnings growth, mainly from sauce products. It has already locked in raw material cost (sugar, onions etc.) through 2020. Management has raised its revenue growth target to 20% this year due to the popularity of Thai food in the world market. (Thun Hoon, 30/11/18)
Comment: I think this is perhaps one the best performers in 2018.

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