Reported Earnings • May 17
First quarter 2026 earnings released: EPS: ฿0.08 (vs ฿0.06 in 1Q 2025) First quarter 2026 results: EPS: ฿0.08 (up from ฿0.06 in 1Q 2025). Revenue: ฿331.1m (up 35% from 1Q 2025). Net income: ฿45.9m (up 27% from 1Q 2025). Profit margin: 14% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 23
Upcoming dividend of ฿0.10 per share Eligible shareholders must have bought the stock before 30 April 2026. Payment date: 22 May 2026. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 7.2%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (5.3%). Declared Dividend • Feb 28
Final dividend of ฿0.10 announced Shareholders will receive a dividend of ฿0.10. Ex-date: 30th April 2026 Payment date: 22nd May 2026 Dividend yield will be 5.6%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but not covered by cash flows (109% cash payout ratio). The dividend has increased by an average of 56% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 6.2% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.9% EPS decline seen over the last 5 years. Reported Earnings • Feb 27
Full year 2025 earnings released: EPS: ฿0.28 (vs ฿0.27 in FY 2024) Full year 2025 results: EPS: ฿0.28 (up from ฿0.27 in FY 2024). Revenue: ฿1.21b (up 3.2% from FY 2024). Net income: ฿165.5m (up 3.6% from FY 2024). Profit margin: 14% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ฿3.12, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 13x in the Personal Products industry in Thailand. Total loss to shareholders of 60% over the past three years. New Risk • Nov 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (165% cash payout ratio). Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (฿1.77b market cap, or US$54.5m). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.10 (vs ฿0.093 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.10 (up from ฿0.093 in 3Q 2024). Revenue: ฿329.7m (up 9.6% from 3Q 2024). Net income: ฿61.9m (up 11% from 3Q 2024). Profit margin: 19% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Declared Dividend • Aug 16
Dividend of ฿0.10 announced Shareholders will receive a dividend of ฿0.10. Ex-date: 27th August 2025 Payment date: 12th September 2025 Dividend yield will be 13%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not covered by earnings (100% earnings payout ratio) nor is it covered by cash flows (148% cash payout ratio). The dividend has increased by an average of 65% per year over the past 4 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control. However, EPS has declined by 12% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.065 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.04 (down from ฿0.065 in 2Q 2024). Revenue: ฿267.6m (down 13% from 2Q 2024). Net income: ฿23.2m (down 40% from 2Q 2024). Profit margin: 8.7% (down from 13% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Announcement • May 14
Rojukiss International Public Company Limited (SET:KISS) announces an Equity Buyback for 15,000,000 shares, representing 2.5% for THB 60 million. Rojukiss International Public Company Limited (SET:KISS) announces a share repurchase program. Under the program, the company will repurchase up to 15,000,000 shares, representing 2.5% of its issued share capital, for THB 60 million. The repurchase price must not exceed 115% of the average closing share price of five business days prior to each repurchase date. The purpose of the program is to manage the efficiency of the company's liquidity and enhance the return on equity (ROE) and earning per share and company's prosperous financial and future prospective confidence. The program will run through November 18, 2025. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: ฿0.06 (vs ฿0.052 in 1Q 2024) First quarter 2025 results: EPS: ฿0.06 (up from ฿0.052 in 1Q 2024). Revenue: ฿244.9m (up 15% from 1Q 2024). Net income: ฿36.1m (up 16% from 1Q 2024). Profit margin: 15% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 23
Upcoming dividend of ฿0.12 per share Eligible shareholders must have bought the stock before 30 April 2025. Payment date: 23 May 2025. Payout ratio is on the higher end at 94%, and the cash payout ratio is above 100%. Trailing yield: 8.6%. Within top quartile of Thai dividend payers (8.1%). Higher than average of industry peers (4.9%). New Risk • Apr 10
New major risk - Revenue and earnings growth Earnings have declined by 5.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 94% Cash payout ratio: 131% Earnings have declined by 5.8% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿2.12b market cap, or US$62.3m). New Risk • Mar 04
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 94% Cash payout ratio: 131% Dividend yield: 7.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 94% Cash payout ratio: 131% Minor Risk Market cap is less than US$100m (฿2.40b market cap, or US$70.7m). Declared Dividend • Mar 02
Dividend of ฿0.12 announced Shareholders will receive a dividend of ฿0.12. Ex-date: 30th April 2025 Payment date: 23rd May 2025 Dividend yield will be 9.2%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (66% earnings payout ratio) but not covered by cash flows (131% cash payout ratio). The dividend has increased by an average of 65% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 27
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: ฿0.27 (up from ฿0.22 in FY 2023). Revenue: ฿1.17b (up 21% from FY 2023). Net income: ฿159.7m (up 22% from FY 2023). Profit margin: 14% (in line with FY 2023). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 3.6%. Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Jan 06
Rojukiss International Public Company Limited Announces Change of Company Secretary Rojukiss International Public Company Limited announced that Miss Nirunchara Yongyuth, Company Secretary resigned from the Company, effective from September 25, 2024. Therefore, the Board of Directors' Meeting No.8/2024, held on December 12, 2024, has resolved to approve the appointment of Mr. Anotai Adulbhan as a Company Secretary, replacing Miss Nirunchara Yongyuth effective from December 12, 2024 onwards. Announcement • Dec 16
Rojukiss International Public Company Limited Announces Board Changes Rojukiss International Public Company Limited at the meeting of the Board of Directors No. 7/2024 held on December 12, 2024, the Board resolved to appoint a new director to replace the director who has resigned from the position. This appointment shall be effective as of December 16, 2024. The details are as follows: Mr. Corrado Giaquinto has been appointed as a director to replace Ms. Pornchanok Tansakul. After this change, the Board of Directors, consisting of 9 members, shall have the following members: Dr. Lackana Leelayouthayotin- Independent Director; Mrs. Pratana Mongkolkul- Independent Director; Dr. Chatrchai Tuongratanaphan- Independent Director; Mr. Kanit Savangvarorose- Independent Director; Mr. Panuwat Chalongkuamdee- Independent Director; Ms. Piyawadee Sornsingh- Director; Mr. Anotai Adulbhan- Director; Mrs. Worrawan Chaikamnerd-Director; Mr. Corrado Giaquinto- Director. Upcoming Dividend • Dec 09
Upcoming dividend of ฿0.15 per share Eligible shareholders must have bought the stock before 16 December 2024. Payment date: 30 December 2024. Payout ratio is a comfortable 66% and the cash payout ratio is 98%. Trailing yield: 4.1%. Lower than top quartile of Thai dividend payers (6.8%). In line with average of industry peers (3.9%). Buy Or Sell Opportunity • Dec 03
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.4% to ฿4.58. The fair value is estimated to be ฿5.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 14% in the next 2 years. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ฿0.09 (vs ฿0.05 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.09 (up from ฿0.05 in 3Q 2023). Revenue: ฿300.7m (up 26% from 3Q 2023). Net income: ฿55.6m (up 84% from 3Q 2023). Profit margin: 19% (up from 13% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Announcement • Sep 24
Rojukiss International Public Company Limited Appoints Saranthorn Chantakulchai as Chief Financial Officer Rojukiss International Public Company Limited announced the appointment of Miss Saranthorn Chantakulchai as Chief Financial Officer. Effective Date of Appointment is September 23, 2024. Upcoming Dividend • Aug 21
Upcoming dividend of ฿0.10 per share Eligible shareholders must have bought the stock before 28 August 2024. Payment date: 13 September 2024. Payout ratio is on the higher end at 78%, and the cash payout ratio is above 100%. Trailing yield: 3.3%. Lower than top quartile of Thai dividend payers (6.8%). In line with average of industry peers (3.2%). Declared Dividend • Aug 15
First half dividend increased to ฿0.10 Dividend of ฿0.10 is 67% higher than last year. Ex-date: 28th August 2024 Payment date: 13th September 2024 Dividend yield will be 4.7%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (60% earnings payout ratio) but not covered by cash flows (207% cash payout ratio). The dividend has increased by an average of 55% per year over the past 3 years. However, payments have been volatile during that time. EPS is expected to grow by 43% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: ฿0.06 (vs ฿0.046 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.06 (up from ฿0.046 in 2Q 2023). Revenue: ฿308.8m (up 29% from 2Q 2023). Net income: ฿38.7m (up 41% from 2Q 2023). Profit margin: 13% (up from 12% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿3.60, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 20x in the Personal Products industry in Asia. Total loss to shareholders of 64% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿5.11 per share. Buy Or Sell Opportunity • Jul 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 34% to ฿3.98. The fair value is estimated to be ฿5.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.5% over the last 3 years. Earnings per share has declined by 4.0%. Revenue is forecast to grow by 33% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. Announcement • May 18
Rojukiss International Public Company Limited Announces Board and Committees Changes Rojukiss International Public Company Limited announced the Director's resignation, effective from May 15, 2024 onward, as follow: Ms. Pornchanook Tanskul and Mrs. Yayus Sulyanni Mak -Independent Directors and Mr. Anuphan Kitnitchiva- Director. The Board of Director's meeting held on May 15, 2024 approved the appointment of the Independent Directors and appointment of Director to sub-committees to replace the resigned directors, effective on May 16, 2024 onward, as follow: Mr. Kanit Savangvarorose - Independent Director to replace Mrs. Yayus Sulyanni Mak; Mr. Panuwat Chalongkuamdee- Independent Director to replace Mr. Anuphan Kitnitchiva. Therefore, after the appointment, the Board of Director's and Sub-committees of the Company are as follows: The Board of Directors comprises of 8 directors, namely Dr. Lackana Leelayouthayotin- Independent Director; Mrs. Pratana Mongkolkul- Independent Director; Dr. Chatrchai Tuongratanaphan- Independent Director; Mr. Kanit Savangvarorose- Independent Director; Mr. Panuwat Chalongkuamdee- Independent Director; Ms. Piyawadee Sinsingh- Director; Mr. Anothai Adulbhan-Director; Mrs. Worrawan Chaikamnerd- Director. Sub-committee of the company as follow: Audit Committee comprise of 3 directors: Mrs. Pratana Mongkolkul- Chairman; Dr. Chatrchai Tuongratanaphan and Mr. Kanit Savangvarorose- Directors. Nomination and Remuneration Committee comprise of 3 directors: Dr. Chatrchai Tuongratanaphan- Chairman; Mr. Panuwat Chalongkuamdee and Mr. Anothai Adulbhan- Directors. Good Corporate Governance Committee comprise of 3 directors: Mr. Panuwat Chalongkuamdee, Mr. Kanit Savangvarorose and Ms. Piyawadee Sinsingh- Directors. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: ฿0.05 (vs ฿0.045 in 1Q 2023) First quarter 2024 results: EPS: ฿0.05 (up from ฿0.045 in 1Q 2023). Revenue: ฿212.8m (up 2.8% from 1Q 2023). Net income: ฿31.0m (up 15% from 1Q 2023). Profit margin: 15% (up from 13% in 1Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • May 09
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 34% to ฿6.75. The fair value is estimated to be ฿5.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has declined by 14%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Upcoming Dividend • Apr 23
Upcoming dividend of ฿0.09 per share Eligible shareholders must have bought the stock before 30 April 2024. Payment date: 21 May 2024. Payout ratio is a comfortable 68% but the company is paying out more than the cash it is generating. Trailing yield: 2.4%. Lower than top quartile of Thai dividend payers (6.0%). Lower than average of industry peers (3.1%). Announcement • Apr 23
Rojukiss International Public Company Limited Approves Pay the Dividend for the Operating Results of July - December 2023, Payable on 21 May 2024 Rojukiss International Public Company Limited at the AGM held on April 22, 2024, approved to pay the remaining dividend for the Company's operating results of July - December 2023 at the rate of THB 0.09 per share, totaling THB 54,000,900. The Record Date on which the shareholders shall have the right to receive dividends is set on 2 May 2024 and the dividend will be paid on 21 May 2024. Announcement • Apr 17
Rojukiss International Public Company Limited Appoints Savin Wongrungrojkit as Chief Financial Officer Rojukiss International Public Company Limited appointed Mr. Savin Wongrungrojkit as Chief Financial Officer, effective April 17, 2024. Price Target Changed • Apr 05
Price target increased by 11% to ฿6.10 Up from ฿5.50, the current price target is an average from 2 analysts. New target price is 8.0% above last closing price of ฿5.65. Stock is down 17% over the past year. The company is forecast to post earnings per share of ฿0.26 for next year compared to ฿0.22 last year. Major Estimate Revision • Apr 05
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ฿1.12b to ฿1.15b. EPS estimate increased from ฿0.23 to ฿0.255 per share. Net income forecast to grow 18% next year vs 27% growth forecast for Personal Products industry in Thailand. Consensus price target up from ฿5.50 to ฿6.10. Share price fell 2.6% to ฿5.65 over the past week. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿5.60, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 19x in the Personal Products industry in Asia. Total loss to shareholders of 64% over the past three years. Declared Dividend • Mar 04
Final dividend increased to ฿0.09 Dividend of ฿0.09 is 13% higher than last year. Ex-date: 30th April 2024 Payment date: 21st May 2024 Dividend yield will be 3.2%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (68% earnings payout ratio) but not covered by cash flows (dividend approximately 26x free cash flows). The dividend has increased by an average of 52% per year over the past 3 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 29
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: ฿0.22 (up from ฿0.21 in FY 2022). Revenue: ฿964.8m (up 3.5% from FY 2022). Net income: ฿131.4m (up 6.2% from FY 2022). Profit margin: 14% (in line with FY 2022). Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) exceeded analyst estimates by 16%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Personal Products industry in Asia. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • Feb 05
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to ฿4.98. The fair value is estimated to be ฿4.09, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 38% in the next 2 years. Reported Earnings • Nov 16
Third quarter 2023 earnings: Revenues and EPS in line with analyst expectations Third quarter 2023 results: EPS: ฿0.05 (down from ฿0.056 in 3Q 2022). Revenue: ฿239.0m (up 1.8% from 3Q 2022). Net income: ฿30.2m (down 10% from 3Q 2022). Profit margin: 13% (down from 14% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Personal Products industry in Asia. Price Target Changed • Nov 08
Price target decreased by 14% to ฿5.73 Down from ฿6.63, the current price target is an average from 2 analysts. New target price is 27% above last closing price of ฿4.50. Stock is down 49% over the past year. The company is forecast to post earnings per share of ฿0.20 for next year compared to ฿0.21 last year. Buying Opportunity • Oct 18
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be ฿6.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Earnings per share has declined by 34%. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to grow by 36% in the next 2 years. Upcoming Dividend • Aug 21
Upcoming dividend of ฿0.06 per share at 2.6% yield Eligible shareholders must have bought the stock before 28 August 2023. Payment date: 14 September 2023. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 2.6%. Lower than top quartile of Thai dividend payers (6.3%). Lower than average of industry peers (3.2%). Reported Earnings • Aug 17
Second quarter 2023 earnings: Revenues and EPS in line with analyst expectations Second quarter 2023 results: EPS: ฿0.05 (in line with 2Q 2022). Revenue: ฿238.5m (up 24% from 2Q 2022). Net income: ฿27.4m (down 13% from 2Q 2022). Profit margin: 12% (down from 16% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Personal Products industry in Asia. New Risk • Jun 29
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.36b (US$94.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (118% cash payout ratio). Share price has been volatile over the past 3 months (7.2% average weekly change). Market cap is less than US$100m (฿3.36b market cap, or US$94.4m). Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ฿6.05, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 23x in the Personal Products industry in Asia. Total loss to shareholders of 14% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ฿4.15 per share. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ฿0.04 (vs ฿0.03 in 1Q 2022) First quarter 2023 results: EPS: ฿0.04 (up from ฿0.03 in 1Q 2022). Revenue: ฿207.0m (up 23% from 1Q 2022). Net income: ฿26.9m (up 38% from 1Q 2022). Profit margin: 13% (up from 12% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Personal Products industry in Asia. Upcoming Dividend • Apr 26
Upcoming dividend of ฿0.08 per share at 2.3% yield Eligible shareholders must have bought the stock before 03 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 68% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Thai dividend payers (6.2%). Lower than average of industry peers (3.6%). Major Estimate Revision • Mar 04
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿1.15b to ฿1.13b. EPS estimate also fell from ฿0.325 per share to ฿0.255 per share. Net income forecast to grow 26% next year vs 23% growth forecast for Personal Products industry in Thailand. Consensus price target of ฿8.65 unchanged from last update. Share price fell 4.5% to ฿7.45 over the past week. Price Target Changed • Mar 04
Price target decreased by 25% to ฿8.65 Down from ฿11.50, the current price target is an average from 2 analysts. New target price is 16% above last closing price of ฿7.45. Stock is down 4.5% over the past year. The company is forecast to post earnings per share of ฿0.26 for next year compared to ฿0.21 last year. Reported Earnings • Feb 24
Third quarter 2022 earnings released: EPS: ฿0.056 (vs ฿0.04 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.056 (up from ฿0.04 in 3Q 2021). Revenue: ฿234.9m (up 49% from 3Q 2021). Net income: ฿33.6m (up 44% from 3Q 2021). Profit margin: 14% (in line with 3Q 2021). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Personal Products industry in Asia. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ฿7.80, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 25x in the Personal Products industry in Asia. Total loss to shareholders of 4.7% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ฿6.88 per share. Reported Earnings • Nov 20
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: ฿0.06 (up from ฿0.04 in 3Q 2021). Revenue: ฿234.9m (up 49% from 3Q 2021). Net income: ฿33.6m (up 44% from 3Q 2021). Profit margin: 14% (in line with 3Q 2021). Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Personal Products industry in Asia. Announcement • Nov 15
Rojukiss International Public Company Limited Announces Resignation of Dr. Anuphan Kitnitchiva, Independent Director, Chairman of the Corporate Governance Committee and Member of the Nomination and Remuneration Committee Rojukiss International Public Company Limited announced that Dr. Anuphan Kitnitchiva informed the resignation of the Independent Director, Chairman of the Corporate Governance Committee and member of the Nomination and Remuneration Committee, effective from 14 November 2022 onwards. Dr. Anuphan Kitnitchiva will remain the position of a Director. The Company will conduct the nomination process and appointment of qualified Chairman of the Corporate Governance Committee and member of the Nomination and Remuneration Committee to replace Dr. Anuphan accordingly. After this change, the Company will have 5 independent directors (from total of 9 directors) as following: Dr. Lackana Leelayouthayotin: Independent Director /Chairman of the Director, Mrs. Pratana Mongkolkul Independent Director /Chairman of Audit Committee, Dr. Chatrchai Tuongratanaphan Independent Director /Chairman of the Nomination and Remuneration Committee, Ms. Pornchanok Tanskul Independent Director, Mrs. Yayus Sulyanni Mak Independent Director. Upcoming Dividend • Aug 22
Upcoming dividend of ฿0.06 per share Eligible shareholders must have bought the stock before 29 August 2022. Payment date: 14 September 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.3%. Lower than top quartile of Thai dividend payers (5.4%). Lower than average of industry peers (4.1%). Reported Earnings • Aug 17
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: ฿191.9m (down 7.2% from 2Q 2021). Net income: ฿31.4m (down 2.9% from 2Q 2021). Profit margin: 16% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 26%, compared to a 11% growth forecast for the Personal Products industry in Thailand. Announcement • Aug 16
Rojukiss International Public Company Limited Announces Interim Dividend for the Period from January 1, 2022 to June 30, 2022., Payable on September 14, 2022 Rojukiss International Public Company Limited announced interim dividend of THB 0.06 per share for the period from January 1, 2022 to June 30, 2022. Record date for the right to receive dividend is August 30, 2022. Ex-dividend date is August 29, 2022. Payment date is September 14, 2022. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ฿6.10, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 20x in the Personal Products industry in Asia. Total loss to shareholders of 47% over the past year. Major Estimate Revision • May 20
Consensus revenue estimates fall by 15% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from ฿978.0m to ฿827.0m. EPS estimate fell from ฿0.31 to ฿0.22 per share. Net income forecast to grow 45% next year vs 15% growth forecast for Personal Products industry in Thailand. Consensus price target down from ฿11.00 to ฿7.70. Share price was steady at ฿7.55 over the past week. Reported Earnings • May 16
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: ฿0.03 (down from ฿0.08 in 1Q 2021). Revenue: ฿169.0m (down 28% from 1Q 2021). Net income: ฿19.6m (down 55% from 1Q 2021). Profit margin: 12% (down from 18% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 25%. Over the next year, revenue is forecast to grow 44%, compared to a 10% growth forecast for the industry in Thailand. Upcoming Dividend • Apr 27
Upcoming dividend of ฿0.10 per share Eligible shareholders must have bought the stock before 03 May 2022. Payment date: 24 May 2022. Payout ratio and cash payout ratio are on the higher end at 77% and 78% respectively. Trailing yield: 2.4%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (3.6%). Reported Earnings • Feb 24
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: ฿0.20 (down from ฿0.36 in FY 2020). Revenue: ฿772.3m (down 20% from FY 2020). Net income: ฿118.6m (down 29% from FY 2020). Profit margin: 15% (down from 17% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) exceeded analyst estimates by 5.3%. Over the next year, revenue is forecast to grow 27%, compared to a 11% growth forecast for the industry in Thailand. Announcement • Feb 01
Rojukiss International Public Company Limited Announces Executive Changes Rojukiss International Public Company Limited informed that Ms. Siritorn Manopjuntaroj, Company Secretary resigned from the Company, effective from 1 December 2021. Therefore, the Board of Directors Meeting No. 1/2022 held on 28 January 2022 has appointed Ms. Wipaporn Niamla-ong, Chief Financial Officer, as Company Secretary, effective from 28 January 2022. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS ฿0.04 (vs ฿0.08 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿157.4m (down 30% from 3Q 2020). Net income: ฿23.3m (down 46% from 3Q 2020). Profit margin: 15% (down from 19% in 3Q 2020). The decrease in margin was driven by lower revenue. Upcoming Dividend • Aug 23
Upcoming dividend of ฿0.055 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 09 September 2021. Trailing yield: 1.0%. Lower than top quartile of Thai dividend payers (5.0%). Lower than average of industry peers (2.6%). Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS ฿0.05 (vs ฿0.19 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿206.8m (down 32% from 2Q 2020). Net income: ฿32.4m (down 50% from 2Q 2020). Profit margin: 16% (down from 22% in 2Q 2020). The decrease in margin was driven by lower revenue. Reported Earnings • May 13
First quarter 2021 earnings released: EPS ฿0.08 (vs ฿0.19 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿234.7m (down 22% from 1Q 2020). Net income: ฿43.2m (down 34% from 1Q 2020). Profit margin: 18% (down from 22% in 1Q 2020). The decrease in margin was driven by lower revenue. Announcement • Apr 27
Rojukiss International Public Company Limited Approves Dividend for the Year 2020, Payable on May 20, 2021 Rojukiss International Public Company Limited at its annual general shareholders' meeting held on April 26, 2021, approved the appropriation of net profit to statutory reserve with the amount of THB 3,000,000 and pay the remaining dividend at the rate of THB 0.04 per share, totaling THB 24,000,000. The record date on which the shareholders have the right to receive dividends is April 30, 2021 and the dividend will be paid on May 20, 2021. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 22% share price gain to ฿15.30, the stock trades at a trailing P/E ratio of 42x, up from the previous P/E ratio of 34.3x. Average P/E is 13x in the Retail Distributors industry in Thailand. Announcement • Feb 19
Rojukiss International Public Company Limited has completed an IPO in the amount of THB 1.373774 billion. Rojukiss International Public Company Limited has completed an IPO in the amount of THB 1.373774 billion.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 152,641,540
Price\Range: THB 9