AIT reported a 1Q18 net profit of Bt67mn, down 49.4% YoY. Its backlog of Bt3.1bn will be mostly booked this year. It targets 2018 revenue to grow 10% to achieve Bt6bn. (Khao Hoon, 10/5/18)
Comment: It has been a difficult period for the IT players since the military took over.
AMA will add two more ships. It targets 2018 revenue to grow 30% YoY, with 2Q18 stronger than 1Q18, which was affected by high oil price and a strong THB. (Thun Hoon, 10/5/18)
Comment: 1Q18 earnings were shockingly weak but as they say its due to oil prices and the strong THB
ATP30 reported a new high 1Q18 net profit of Bt10.5mn, +446.35% YoY. New customers will bring further growth in 2Q18 earnings. (Khao Hoon, 10/5/18)
CK is ready to bid for a new expressway on Rama 3, worth Bt300bn. It has also paved the way for BEM to bid for two motorway projects, worth Bt82.5bn. It will also bid for the high-speed train connecting the three airports. (Thun Hoon, 10/5/18)
CPT revealed that management sold 56mn shares or 6.22% stake to add trading liquidity. It believes investors bought big lots to get in on future business growth. (Khao Hoon, 10/5/18)
EGCO reported a strong 1Q18 net profit of Bt20bn, +580% YoY, from the recording of more than Bt15bn gain from the sale of investment. The capacity of its power plant is 4,256MW, and another 54 MW is in line for COD. (Thun Hoon, 10/5/18)
EPG expects better operations in its FY2019 backed by growth in all businesses: Aeroklas, Aeroflexand EPP. For the automotive business, operations will be driven by the promising industry outlook with a target production of 2.1mn autos. (Kao Hoon, 10/5/18)
Comment: They used to be a well loved stock by brokers, but growth hasn’t been as expected, which is odd given the recovery of the automotive manufacturers
ICN reported good earnings in 1Q18 of Bt28.43mn, jumping 766.76% YoY. It expects operations will continue strong in 2Q18, backed by Bt500mn backlog. The company targets 40% revenue growth this year boosted by a big project with a value at Bt2.0bn. (Thun Hoon, 10/5/18)
SGP reported weak net profit in 1Q18 of Bt100mn, down 91% YoY, dragged by rising operating cost that weakened gross margin. Management still believes in operations in 2018 and expects 10% growth in LPG sales. (Kao Hoon, 10/5/18)
SIRI is focusing more on Loft-style townhouse with a starting price of Bt1.69mn as it sees rising demand with higher purchasing power. (Krungthep Turakij, 10/5/18)
TBANK targets new housing loans of Bt24bn, up 20%, boosting its loan portfolio to Bt110bn. For 4M18, new loans came to Bt7.0bn. It plans to control NPL ratio to not exceed 4% this year and will have marketing campaigns to gain new clients. (Thun Hoon, 10/5/18)
TKS hopes to join Thailand Post/Thai Rath’s “world-cup champion prediction” campaign via providing the printing of the post cards, with estimated value of around Bt10mn. A conclusion is expected next week. For this year’s performance, management expects 70% sales growth to Bt2.3bn after acquiring TBSP to expand business both local and overseas. (Than Hoon, 10/5/18)
TOA targets revenue growth of >10% in 2018 with new products to be launched this year. It will place more emphasis on international business in order to raise the proportion to 28% from 13.2%, mainly in CLMV markets where the company plans to build production plants. (Thun Hoon, 10/5/18
Comment: It’s 1) CLMV that will drive growth as Thailand will be single digit at best and 2) Stabilising the GPM
TOG expects 2Q18 operations to remain strong with more participation in internal exhibitions in the US, Europe and Asia. The company plans to increase utilization rate of its plant to 100% to accommodate more sales from overseas. (Thun Hoon, 10/5/18)
Comment: A great manufacturer but with the typical currency risk.
TOP agreed to pay more rent to the Ministry of Finance for the 30-year lease on land used for its operations of Bt12bn, up from Bt8bn. It will pay an Bt2.9bn upfront fee to the Ministry which will have to submit this transaction for cabinet approval. (Kao Hoon, 10/5/18)
TU acquired 45% in TUMD Luxembourg SARL for Bt507mn to operate the tuna business in Russia. The company expects to expand its business further in Europe. (Thun Hoon, 10/5/18)
WPH reported 1Q18 profit of Bt25.6mn, surging 99.8% YoY. This was driven by a 19.3% YoY rise in revenue to Bt173.8mn. The company plans to expand its hospital in Samui.
Comment: A hospital IPO that hasn’t performed since going public but even this turnaround in earnings has our attention.