ACAP targets 2016 loans of Bt4bn after reaching Bt3.8bn in 10M16. It expects 2016 performance to turn around, after a 9M16 net profit of Bt94.26mn. It plans to approve property loans of Bt100-300mn. It plans to issue debentures to broaden its business base. (Thun Hoon, 15/11/16)
AOT is confident 2016 earnings will be a new high supported by more traffic through its airports. It has a 10-year investment budget of Bt200bn to expand and renovate all six of its airports. It has cash of Bt60bn and does not expect to increase capital. (Kao Hoon, 15/11/16)
Comment: Can you imagine one day the government decided to set up an airport infrastructure REIT?
ARROW reported 9M16 net profit of Bt197.07mn, with 3Q16 profit of Bt70.43mn on revenue of Bt380.5mn, with growth backed by high demand. It expects growth to continue. It expects 2016 revenue growth of 12-15%. (Thun Hoon, 15/11/16)
Comment: And the growth still continues for this little co
CK reported 3Q16 net profit of Bt328mn, up 15% YoY. This brought 9M16 net profit to Bt1.16bn, falling 30%, with total revenue of Bt38.98bn, up 34%, as it booked more revenue from the Xayaburi project. (Kao Hoon, 15/11/16)
COM7 expects 4Q16 earnings to be good on seasonality and sales of iPhone7. It expects 2016 revenue to reach Bt17bn. It targets 2017 revenue growth of 10%. It is studying the acquisition of a related company to facilitate growth. (Thun Hoon, 15/11/16)
DRT reported 3Q16 net profit of Bt77.04mn, up 14.03%YoY on the back of high demand and cost control. It plans to expand to CLMV to increase revenue. (Thun Hoon, 15/11/16)
Comment: Low bases helps the %age look better than reality.
EA invested Bt690mn in a battery producer in Taiwan. It reports 9M16 net profit of Bt2.42bn, up 19%YoY. It has started operations of a 260MW wind power plant at Chaiyaphum. The Haad Gunghun project is also completed and expects to COD soon. It will ask to move to the SET from mai. (Thun Hoon, 15/11/16)
Comment: Could this battery producer help in the efficiency of renewable energy batteries?
EARTH expects 3Q16 revenue to reach Bt5.7bn from Bt4.8bn last year supported by higher coal prices and a decrease in output from China. The board will pay a cash dividend of Bt0.05/share, payment on Dec 5. It plans to focus on the China market. (Thun Hoon, 15/11/16)
EPG will pay a dividend of Bt0.1/share on 1HFY17 net profit growth of 9.2% to Bt778mn. Behind the better performance is large orders and cost control. (Thun Hoon, 15/11/16)
Comment: So without the benefit of declining oil prices EPG’s earnings growth seem to have normalised.
FSMART plans to revise its 3-year plan by raising its targets for top-up revenue and Boon Term machines. It expects top up revenue of more than Bt21bn with more than 90,000 Boon Term machines after ADVANC discontinued the sale of top-up cards at convenience stores. (Thun Hoon, 15/11/16)
MCS posted 9M16 net profit of Bt966mn from good sales growth. It expects Bt51bn in backlog to transfer soon. It expects its machine (new robot welding line) to start operations in June 2017. (Thun Hoon, 15/11/16)
Comment: Just amazing #’s from MCS
NDR reported 3Q16 net profit of Bt18.24mn, up 57.79%YoY. Its 9M16 net profit was Bt40.76mn on the back of higher sales in India and cost controls. Its board approved set up subsidiary to engage in tire distribution to increase distribution channels. (Thun Hoon, 15/11/16)
PK reported earnings growth of 587% to more than Bt46mn backed by continued growth in revenue from sales and services. Together with better cost management, gross margin widened to 27% and it expects to turn around next year. (Thun Hoon, 15/11/16)
QTC’s board approved setting up a subsidiary (QTCGP) to engage in the alternative energy business. It is studying investing in a solar power plant in Myanmar. It plans to focus on hydro and solar power plants in the first phase. It expects revenue contribution in 2017. (Thun Hoon, 15/11/16)
RJH reported 3Q16 net profit of Bt48mn, growth of 145%, and bringing 9M16 net profit to Bt118.8mn, growth of 118%. Behind this is growing hospital revenue. It has budgeted more than Bt63mn to acquire more Ratchathani Rojana hospital shares. (Thun Hoon, 15/11/16)
Comment: Another small hospital name that is doing quite well.
SIRI plans to launch two JV projects in 4Q16, valued at Bt4.9bn. It expects 2016 revenue to reach Bt33bn as targeted. It reported 9M16 revenue of Bt22.7bn with net profit of Bt1.8bn. It plans to launch low-rise projects valued at Bt2.4bn at the end of November. (Thun Hoon, 15/11/16)
SUPER reported 3Q16 profit of Bt312mn, increasing more than 328% YoY. It plans to set up a subsidiary in Japan and in Hong Kong to expand power plants aboard. It is confident that 2016 COD will reach target of 1000MW. (Thun Hoon, 15/11/16)
Comment: That will be quite the feat if they can pull it off within the next 45 days
TAE expects high season to support 1Q17. It expects 2016 revenue to be good from Bt2.6bn in 2015 supported by demand expansion. (Thun Hoon, 15/11/16)
THAI has budgeted Bt6.1bn to renovate 15 airplanes to support business and will receive delivery of seven new airplanes. It is confident that cabin factor will stand at 75%. (Thun Hoon, 15/11/16)
TKN reported a substantial performance for 9M16. It expects 2016 revenue to grow 20-22%. It plans to increase revenue from abroad after getting a good response. It is talking to a prospective partner in China. (Thun Hoon, 15/11/16)
TPOLY reported 3Q16 net profit of Bt52.8mn from 3Q15 net loss of Bt29.3mn. Its backlog is Bt3.96bn. It targets 10% growth in revenue this year. (Thun Hoon, 15/11/16)
Comment: If they can continue this tunaround in profitability, will the market include TPCH into the company’s valuation?
TVD reported 3Q16 revenue of Bt913.87mn from 3Q15’s Bt182.87mn with net profit of Bt15.48mn. It expects to focus on e-commerce to match today’s online society. (Thun Hoon, 15/11/16)
TWZ reported 9M16 revenue of Bt3.13bn (+6.15%) with net profit of Bt104.97mn, up 253.69%YoY. Behind this is achieving target for its business structure. Its board approved a capital increase by a subsidiary. (Thun Hoon, 15/11/16)
UV reported 3Q16 net profit of Bt522mn, up 227%. Its 3Q16 revenue was Bt5.19bn with Bt5bn in backlog, of which Bt2.72bn is expected to be booked this year. It plans to launch two new projects valued at Bt1.71bn. It expects 2016 revenue of not less than Bt16bn. (Thun Hoon, 15/11/16)
WHA expects 2016 revenue to reach its target of Bt17bn and expects 4Q16 to be this year’s peak, supported by the sale of assets to an REIT. It reported 3Q16 net profit of Bt42mn and 9M16 net profit of Bt497mn, growth of 194%. (Kao Hoon, 15/11/16)