AIT targets 2018 revenue at Bt6bn, implying a growth of 20% from last year. It plans to join the bidding for both government and private sector projects. It says the competition in the industry is still intense this year and it will focus on high margin projects. It will join the bidding for system installation project for new parliament, worth Bt5-6bn and it currently has backlog of Bt3.331bn. (Thun Hoon, 09/03/18)
Comment: A recovery for the IT sector? We’ve been waiting 2 years for this. If not longer.
AOT projects passengers in 1H18 to grow by 11% backed by the removal of ICAO’s red flag and no issue of zero-dollar tours. It is progressing on its two lands development plan (37th plot of land and land in Wat Sri Wa Ree Noi road) with total investment value of Bt15bn and plans to invite private sector to invest in these lands in April 2018. (Khao Hoon, 09/03/18)
ASAP expects revenue to increase to Bt4.5bn in 2020. It has allocated Bt10bn for three years of investment to facilitate its plans to expand its rental cars to 20,000. (Khao Hoon, 09/03/18)
Comment: Impressive goals, but ridiculously valued
CK says it will not set aside bad debt reserves this year. It is going to join the bidding for government projects worth Bt310bn in 2H18 raising its backlog from Bt30-35bn currently. (Thun Hoon, 09/03/18)
FORTH targets 2018 revenue of at least Bt8bn. It currently has backlog of Bt2.504bn, of which 90% will be booked as revenue this year. It is going to bid for new projects worth Bt14.556bn, of which it expects to receive 30-40%. The results of the bidding will start to come out in 2Q18. It also says earnings of FSMART will continue to grow. (Khao Hoon, 09/03/18)
Comment: Again the story here will be FSMART, but as you can see by FSMART’s stock price, a decreasing growth rate isn’t what people expected
KTIS believes 2018 revenue and earnings will go up, as it believes global sugar prices have recovered and it expects sugar cane production to make a new high this year at 115mn tons. It targets revenue from non-sugar business to rise to 40% in the next three years. (Khao Hoon, 09/03/18)
Comment: Interestingly despite what sugar prices are traded at global these sugar companies in Thailand, after forward selling a certain amount of volume do seem to achieve premiums compared to the international prices.
PLAT projects 1Q18 revenue outlook will be positive in tandem with tourism high season. It projects 2018 revenue to grow by 5% and says 2018 is a year of investment. It believes 2019 revenue will jump significantly after a full-year of revenue from The Market Bangkok Phase 1. It targets revenue will grow by 20-25% annually on average in the next five years and earnings will grow by at least 50% on average. (Khao Hoon, 09/03/18)
PTG targets 2018 sales volume to grow by 20-25% in tandem with higher market demand. It believes 2018 EBITDA will go up to 40-45% and plans to add outlets to reach 2,700 this year in order to raise market share. It says it is going to close the deal on a joint venture in the food business in the beginning of May 2018, raising revenue from the non-oil business. It has budgeted Bt4-5bn for investment in 2018. (Thun Hoon, 09/03/18)
Comment: Another expansion into the food business, non-oil revenues are going to be growing quickly if this is the case
SUPER is going to issue a Bt36bn bond to fund a financial restructure to suit its business expansion plan. It is expanding its investment in power plants and is going to change its name to Super Energy Corporation. It projects 2018 revenue to grow by 25%. (Khao Hoon, 09/03/18)
Comment: So they are not going to do the infra fund then?