Reported Earnings • May 19
First quarter 2026 earnings released: EPS: ฿0.66 (vs ฿0.76 in 1Q 2025) First quarter 2026 results: EPS: ฿0.66 (down from ฿0.76 in 1Q 2025). Revenue: ฿1.72b (flat on 1Q 2025). Net income: ฿295.9m (down 13% from 1Q 2025). Profit margin: 17% (down from 20% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 13% per year. Upcoming Dividend • May 04
Upcoming dividend of ฿0.79 per share Eligible shareholders must have bought the stock before 11 May 2026. Payment date: 27 May 2026. Payout ratio is a comfortable 58% but the company is paying out more than the cash it is generating. Trailing yield: 3.5%. Lower than top quartile of Thai dividend payers (7.5%). Lower than average of industry peers (5.6%). Declared Dividend • Mar 18
Final dividend reduced to ฿0.79 Dividend of ฿0.79 is 22% lower than last year. Ex-date: 11th May 2026 Payment date: 27th May 2026 Dividend yield will be 3.1%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but not covered by cash flows (226% cash payout ratio). The dividend has increased by an average of 4.0% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 35% to shift the payout ratio to a potentially unsustainable range, which is more than the 5.6% EPS decline seen over the last 5 years. Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: ฿2.79 (vs ฿3.54 in FY 2024) Full year 2025 results: EPS: ฿2.79 (down from ฿3.54 in FY 2024). Revenue: ฿7.10b (down 5.6% from FY 2024). Net income: ฿1.26b (down 21% from FY 2024). Profit margin: 18% (down from 21% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 11% per year. Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: ฿0.69 (vs ฿0.92 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.69 (down from ฿0.92 in 3Q 2024). Revenue: ฿1.82b (down 6.4% from 3Q 2024). Net income: ฿309.7m (down 25% from 3Q 2024). Profit margin: 17% (down from 21% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Declared Dividend • Aug 20
First half dividend reduced to ฿0.71 Dividend of ฿0.71 is 20% lower than last year. Ex-date: 1st September 2025 Payment date: 16th September 2025 Dividend yield will be 3.4%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (60% earnings payout ratio) but not adequately covered by cash flows (98% cash payout ratio). The dividend has increased by an average of 5.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 34% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.8% EPS decline seen over the last 5 years. New Risk • Aug 18
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 98% Dividend yield: 3.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Earnings have declined by 1.5% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (98% cash payout ratio). Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ฿0.64 (vs ฿0.83 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.64 (down from ฿0.83 in 2Q 2024). Revenue: ฿1.70b (down 8.3% from 2Q 2024). Net income: ฿287.0m (down 23% from 2Q 2024). Profit margin: 17% (down from 20% in 2Q 2024). The decrease in margin was driven by lower revenue. 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 10% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: ฿0.76 (vs ฿0.93 in 1Q 2024) First quarter 2025 results: EPS: ฿0.76 (down from ฿0.93 in 1Q 2024). Revenue: ฿1.72b (down 6.0% from 1Q 2024). Net income: ฿341.5m (down 18% from 1Q 2024). Profit margin: 20% (down from 23% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • May 02
Upcoming dividend of ฿1.01 per share Eligible shareholders must have bought the stock before 09 May 2025. Payment date: 27 May 2025. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Thai dividend payers (7.9%). Lower than average of industry peers (5.1%). Announcement • Apr 30
President Bakery Public Company Limited Approves Cash Dividend for 2024, Payable on May 27, 2025 President Bakery Public Company Limited at its AGM held on 30, April 2025 approved the Appropriation of Profit and dividend payment for the year 2024 at the rate of THB 1.90 per share or in total amount of THB 855 million or 53.67% of net profit in the separate financial statement. The Company has already paid an interim dividend for the operational results during the first half-year at the rate of THB 0.89 per share, totaling to THB 400.50 million, on September 17, 2024. Thus, the remaining dividend for the year 2024 shall be paid at the rate of THB 1.01 per share. Paid from the BOI promoted business of THB 0.64 per share and paid from the BOI non promoted business of THB 0.37 per share, totaling to THB 454.50 million. The record date for determining the shareholders who have the right to receive the dividend payment shall be on May 13, 2025. The dividend payment will be on May 27, 2025. Declared Dividend • Mar 20
Final dividend of ฿1.01 announced Shareholders will receive a dividend of ฿1.01. Ex-date: 9th May 2025 Payment date: 27th May 2025 Dividend yield will be 3.5%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (78% cash payout ratio). The dividend has increased by an average of 6.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 40% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.3% EPS decline seen over the last 5 years. Announcement • Mar 19
President Bakery Public Company Limited Proposes Cash Dividend for Operating Period from July 1, 2024 to December 31, 2024, Payable on May 27, 2025 President Bakery Public Company Limited proposed Cash Dividend For Operating Period From July 1, 2024 to December 31, 2024, Payable on May 27, 2025. For the period, the company reported dividend of THB 1.01 per share, derived from profit under non-BOI privilege that is THB 0.37 per share and Derived from profit under BOI privilege that is THB 0.64 per share, payable to shareholder of record May 13, 2025 and ex-dividend date of May 9, 2025. Shareholder's meeting date is April 30, 2025. Date of Board resolution is March 17, 2025. Announcement • Mar 18
President Bakery Public Company Limited, Annual General Meeting, Apr 30, 2025 President Bakery Public Company Limited, Annual General Meeting, Apr 30, 2025, at 09:30 SE Asia Standard Time. Location: the meeting room 6th floor, bangchan industrial estate no.1 , seri thai soi 87 , seri thai road, minburi , bangkok 10510 Thailand Announcement • Feb 18
President Bakery Public Company Limited Appoints Poj Paniangvait as Director President Bakery Public Company Limited appointed DR. Poj Paniangvait as director. Effective date: February 17, 2025. Date of board resolution for change of director /executive: February 17, 2025. Reported Earnings • Feb 18
Full year 2024 earnings released: EPS: ฿3.53 (vs ฿3.80 in FY 2023) Full year 2024 results: EPS: ฿3.53 (down from ฿3.80 in FY 2023). Revenue: ฿7.53b (flat on FY 2023). Net income: ฿1.59b (down 6.9% from FY 2023). Profit margin: 21% (down from 23% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 6% per year. Announcement • Dec 18
President Bakery Public Company Limited Announces Resignation of Vichai Kulsomphob as Director and Chairman of Investment Committee, Effective from 31 December 2024 President Bakery Public Company Limited announced that Mr. Vichai Kulsomphob has issued the letter dated 16 December 2024, requesting to resign from the position of Director and Chairman of Investment Committee due to other duties. The resignation is effective from 31 December 2024 onwards which the Company acknowledged on 16 December 2024. The Nomination and Remuneration Committee will consider a new director to replace the vacancy and inform to The Stock Exchange of Thailand. Reported Earnings • Nov 16
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: ฿1.95b (down 1.5% from 3Q 2023). Net income: ฿415.1m (down 8.0% from 3Q 2023). Profit margin: 21% (down from 23% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: ฿0.83 (vs ฿0.85 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.83 (down from ฿0.85 in 2Q 2023). Revenue: ฿1.86b (up 1.8% from 2Q 2023). Net income: ฿372.5m (down 2.5% from 2Q 2023). Profit margin: 20% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: ฿0.92 (vs ฿0.86 in 1Q 2023) First quarter 2024 results: EPS: ฿0.92 (up from ฿0.86 in 1Q 2023). Revenue: ฿1.83b (up 1.1% from 1Q 2023). Net income: ฿416.2m (up 7.2% from 1Q 2023). Profit margin: 23% (up from 22% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year. Upcoming Dividend • May 06
Upcoming dividend of ฿1.14 per share Eligible shareholders must have bought the stock before 13 May 2024. Payment date: 21 May 2024. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Thai dividend payers (6.0%). In line with average of industry peers (3.2%). Announcement • May 03
President Bakery Public Company Limited Appoints Mr. Chatchai Janpraisri as Member of Audit Committee The Board of Directors meeting of President Bakery Public Company Limited held on April 30, 2024 resolved the meetings resolutions in the following manners: The company announced that the appointment of Mr. Chatchai Janpraisri as member of audit committee. The Audit Committee is consisted of: Chairman of the Audit Committee Mr. Wattanachai Chotechutrakul. Member of the Audit Committee Mr. Thanapich Mulapruk. Member of the Audit Committee Mrs. Aim-On Pathumarak. Member of the Audit Committee Mr. Chatchai Janpraisri. Announcement • Apr 30
President Bakery Public Company Limited Approves Appointment of Chatchai Janpraisri as Independent Director President Bakery Public Company Limited held the Annual General Shareholders Meeting on April 30, 2024 approved appointment of Mr. Chatchai Janpraisri as Director. Therefore, the company has 15 directors in 2024 whose names as follows: Directors: Mr. Pipat Paniangvait, Mr. Apichart Thammanomai, Mr. Apisate Thammanomai, Mr. Vichai Kulsomphob, Miss Petcharat Anantawichai, Miss Panida Prayottaweekij, Dr. Pojjanee Paniangvait, Mr. Pun Paniangvait, Miss Saipin Kittipornpimol, Miss Ubolluck Luevoravinyu. Independent Directors: Mr. Wattanachai Chotechutrakul, Prof. Piyamitr Sritara, Mr. Thanapich Mulapruk, Mrs. Aim-On Pathumarak, Mr. Chatchai Janpraisri (The term of office is 2 years, according to the remaining term of the resigning director). Declared Dividend • Mar 24
Final dividend of ฿1.14 announced Dividend of ฿1.14 is the same as last year. Ex-date: 13th May 2024 Payment date: 21st May 2024 Dividend yield will be 3.0%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 3.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 21
President Bakery Public Company Limited Announces the Resignation of Sujet Kowkasai as Independent Director and Audit Committee, Effective April 17, 2024 President Bakery Public Company Limited announced the resignation of Mr. Sujet Kowkasai as Independent Director and Audit Committee due to personal business. The resignation is effective from April 17, 2024, onwards, which the Company acknowledged on March 15, 2024. Buy Or Sell Opportunity • Mar 20
Now 20% overvalued Over the last 90 days, the stock has fallen 3.6% to ฿67.25. The fair value is estimated to be ฿55.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years, while earnings per share has been flat. Announcement • Mar 19
President Bakery Public Company Limited, Annual General Meeting, Apr 30, 2024 President Bakery Public Company Limited, Annual General Meeting, Apr 30, 2024, at 09:30 SE Asia Standard Time. Location: Meeting Room 6th Floor , Bangchan Industrial Estate No.1 Seri Thai Soi 87 , Seri Thai Road, Minburi Bangkok Thailand Agenda: To consider to certify the minute of the Annual General Meeting of Shareholders No.44 on 28 April 2023; to acknowledge the company's operating result of the year 2023; to consider and approve the Company's Financial Statement as of the year ended on 31 December 2023; to consider to allocate the profit and approve the payment dividend for the year 2023; to consider the election of directors retire by rotation and resigned director; to consider the determination of the director's remuneration; to consider the appointment of the auditor and determine the audit fee for the year 2024; to consider for amendment for Company's articles of association; to consider for amendment for Company's memorandum of association section.3. Addition of the Company's objectives; and to consider to other matters ( if any ). Reported Earnings • Feb 20
Full year 2023 earnings released: EPS: ฿3.80 (vs ฿3.79 in FY 2022) Full year 2023 results: EPS: ฿3.80 (up from ฿3.79 in FY 2022). Revenue: ฿7.57b (flat on FY 2022). Net income: ฿1.71b (flat on FY 2022). Profit margin: 23% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: ฿1.00 (vs ฿1.07 in 3Q 2022) Third quarter 2023 results: EPS: ฿1.00 (down from ฿1.07 in 3Q 2022). Revenue: ฿1.98b (down 1.4% from 3Q 2022). Net income: ฿451.3m (down 6.1% from 3Q 2022). Profit margin: 23% (down from 24% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 1% per year and the company’s share price has also increased by 1% per year. Upcoming Dividend • Aug 28
Upcoming dividend of ฿0.86 per share at 2.9% yield Eligible shareholders must have bought the stock before 04 September 2023. Payment date: 19 September 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Thai dividend payers (6.3%). Lower than average of industry peers (3.6%). Announcement • Aug 22
President Bakery Public Company Limited Announces Interim Cash Dividend for the Period from January 1, 2023 to June 30, 2023, Payable on September 19, 2023 President Bakery Public Company Limited announced the interim cash dividend of THB 0.86 per share for the operating period from January 1, 2023 to June 30, 2023. Record date for the right to receive dividends is on September 05, 2023 with Ex-dividend date is on September 04, 2023. Payment date is on September 19, 2023. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: ฿0.85 (vs ฿0.86 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.85 (down from ฿0.86 in 2Q 2022). Revenue: ฿1.83b (flat on 2Q 2022). Net income: ฿382.2m (down 1.1% from 2Q 2022). Profit margin: 21% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has remained flat and the company’s share price has also remained flat. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ฿0.86 (vs ฿0.84 in 1Q 2022) First quarter 2023 results: EPS: ฿0.86 (up from ฿0.84 in 1Q 2022). Revenue: ฿1.81b (up 2.9% from 1Q 2022). Net income: ฿388.2m (up 2.6% from 1Q 2022). Profit margin: 22% (in line with 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat. Upcoming Dividend • May 03
Upcoming dividend of ฿1.14 per share at 2.8% yield Eligible shareholders must have bought the stock before 10 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Thai dividend payers (6.3%). Lower than average of industry peers (4.0%). Reported Earnings • Feb 23
Full year 2022 earnings released: EPS: ฿3.79 (vs ฿3.75 in FY 2021) Full year 2022 results: EPS: ฿3.79 (up from ฿3.75 in FY 2021). Revenue: ฿7.57b (up 5.3% from FY 2021). Net income: ฿1.71b (up 1.1% from FY 2021). Profit margin: 23% (in line with FY 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ฿1.07 (vs ฿1.18 in 3Q 2021) Third quarter 2022 results: EPS: ฿1.07 (down from ฿1.18 in 3Q 2021). Revenue: ฿2.00b (down 1.3% from 3Q 2021). Net income: ฿480.7m (down 9.6% from 3Q 2021). Profit margin: 24% (down from 26% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Aug 29
Upcoming dividend of ฿0.86 per share Eligible shareholders must have bought the stock before 05 September 2022. Payment date: 19 September 2022. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Thai dividend payers (5.5%). In line with average of industry peers (3.0%). Reported Earnings • Aug 13
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: ฿1.83b (up 6.4% from 2Q 2021). Net income: ฿386.6m (down 4.6% from 2Q 2021). Profit margin: 21% (down from 24% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • May 14
First quarter 2022 earnings released: EPS: ฿0.84 (vs ฿0.75 in 1Q 2021) First quarter 2022 results: EPS: ฿0.84 (up from ฿0.75 in 1Q 2021). Revenue: ฿1.75b (up 10.0% from 1Q 2021). Net income: ฿378.2m (up 12% from 1Q 2021). Profit margin: 22% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year. Upcoming Dividend • May 02
Upcoming dividend of ฿1.06 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 26 May 2022. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (3.2%). Reported Earnings • Feb 22
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: ฿3.75 (up from ฿3.73 in FY 2020). Revenue: ฿7.21b (flat on FY 2020). Net income: ฿1.69b (flat on FY 2020). Profit margin: 23% (in line with FY 2020). Revenue exceeded analyst estimates by 1.5%. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ฿1.18 (vs ฿0.96 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿2.03b (up 12% from 3Q 2020). Net income: ฿531.5m (up 23% from 3Q 2020). Profit margin: 26% (up from 24% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year and the company’s share price has also increased by 5% per year. Upcoming Dividend • Aug 30
Upcoming dividend of ฿0.84 per share Eligible shareholders must have bought the stock before 06 September 2021. Payment date: 22 September 2021. Trailing yield: 2.4%. Lower than top quartile of Thai dividend payers (4.9%). Lower than average of industry peers (3.5%). Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS ฿0.90 (vs ฿0.98 in 2Q 2020) The company reported a poor second quarter result with weaker earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: ฿1.72b (down 5.9% from 2Q 2020). Net income: ฿405.2m (down 7.7% from 2Q 2020). Profit margin: 24% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • May 13
First quarter 2021 earnings released: EPS ฿0.75 (vs ฿0.92 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿1.60b (down 12% from 1Q 2020). Net income: ฿339.2m (down 18% from 1Q 2020). Profit margin: 21% (down from 23% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Apr 19
Upcoming dividend of ฿0.94 per share Eligible shareholders must have bought the stock before 26 April 2021. Payment date: 17 May 2021. Trailing yield: 2.9%. Lower than top quartile of Thai dividend payers (5.0%). Lower than average of industry peers (3.5%). Reported Earnings • Feb 17
Full year 2020 earnings released: EPS ฿3.73 (vs ฿3.78 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: ฿7.19b (down 7.7% from FY 2019). Net income: ฿1.68b (down 1.3% from FY 2019). Profit margin: 23% (up from 22% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS ฿0.96 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿1.83b (down 13% from 3Q 2019). Net income: ฿430.8m (down 16% from 3Q 2019). Profit margin: 24% (down from 24% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. 
