Board Change • Apr 22
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Mar 19
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 03
Full year 2025 earnings released: EPS: ฿18.71 (vs ฿18.48 in FY 2024) Full year 2025 results: EPS: ฿18.71 (up from ฿18.48 in FY 2024). Revenue: ฿1.70b (flat on FY 2024). Net income: ฿112.3m (up 1.3% from FY 2024). Profit margin: 6.6% (up from 6.5% in FY 2024). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 02
Dividend of ฿4.42 announced Shareholders will receive a dividend of ฿4.42. Ex-date: 7th May 2026 Payment date: 28th May 2026 Dividend yield will be 3.2%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (26% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has increased 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 71% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.0% EPS decline seen over the last 5 years. Anuncio • Feb 28
Thai O.P.P. Public Company Limited announces Annual dividend, payable on May 28, 2026 Thai O.P.P. Public Company Limited announced Annual dividend of THB 3.7500 per share payable on May 28, 2026, ex-date on May 07, 2026 and record date on May 08, 2026. Anuncio • Feb 27
Thai O.P.P. Public Company Limited, Annual General Meeting, Apr 29, 2026 Thai O.P.P. Public Company Limited, Annual General Meeting, Apr 29, 2026, at 10:00 SE Asia Standard Time. Location: vimarnthip rm. 5th floor, montien, riverside hotel, rama 3 rd., bangkholaem, bangkok, Thailand Board Change • Feb 23
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jan 23
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 24
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Sep 12
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 30
Upcoming dividend of ฿4.91 per share Eligible shareholders must have bought the stock before 07 May 2025. Payment date: 28 May 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Thai dividend payers (7.9%). Lower than average of industry peers (4.8%). Board Change • Apr 30
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Anuncio • Apr 30
Thai O.P.P. Public Company Limited Approves Cash Dividend for Year Ended December 31, 2024, Payable on May 28, 2025 Thai O.P.P. Public Company Limited at its Annual General Meeting, held on April 29, 2025, approved the allocation of profit and dividend payment for the year 2024 operative result at the rate of THB 4.91 per share, thus totaling the cash dividend to be paid in the amount of not exceeding THB 29,460,000. The record date for the right of shareholders to receive the dividend payments will be determined on May 8, 2025. The dividend payment date is set to be on May 28, 2025. Declared Dividend • Mar 26
Dividend reduced to ฿4.91 Dividend of ฿4.91 is 26% lower than last year. Ex-date: 7th May 2025 Payment date: 28th May 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (37% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 3.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Board Change • Mar 26
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Declared Dividend • Mar 02
Dividend reduced to ฿4.91 Dividend of ฿4.91 is 26% lower than last year. Ex-date: 7th May 2025 Payment date: 28th May 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (37% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 3.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: ฿18.48 (vs ฿18.71 in FY 2023) Full year 2024 results: EPS: ฿18.48 (down from ฿18.71 in FY 2023). Revenue: ฿1.72b (up 8.0% from FY 2023). Net income: ฿110.9m (down 1.2% from FY 2023). Profit margin: 6.5% (down from 7.1% in FY 2023). The decrease in margin was driven by higher expenses. 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 4% per year, which means it is significantly lagging earnings. Anuncio • Feb 28
Thai O.P.P. Public Company Limited, Annual General Meeting, Apr 29, 2025 Thai O.P.P. Public Company Limited, Annual General Meeting, Apr 29, 2025, at 10:00 SE Asia Standard Time. Location: vimarnthip rm. 5th floor, montien riverside hotel, rama 3 rd., bangkholaem, bangkok Thailand Anuncio • Feb 27
Thai O.P.P. Public Company Limited Proposes Cash Dividend for the Period from 01 January 2024 to 31 December 2024, Payable on May 28, 2025 Thai O.P.P. Public Company Limited at the AGM to be held on 29 April 2025, proposed Cash dividend payment for Operating period from 01 January 2024 to 31 December 2024 of THB 4.91 per share to Common shareholders on Par value of THB 10.00 per share. The Record Date for the right of shareholders to receive the dividend is scheduled to be on May 8, 2025 (if approved at the AGM 2025) and dividend payment will be made on May 28, 2025. Ex-dividend date of 07 May 2025. Board Change • Feb 11
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Dec 06
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Sep 03
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: ฿5.72 (vs ฿3.54 in 1Q 2023) First quarter 2024 results: EPS: ฿5.72 (up from ฿3.54 in 1Q 2023). Revenue: ฿415.4m (up 8.4% from 1Q 2023). Net income: ฿34.3m (up 61% from 1Q 2023). Profit margin: 8.3% (up from 5.5% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ฿170, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 14x in the Packaging industry in Thailand. Total loss to shareholders of 15% over the past three years. Declared Dividend • May 02
Dividend increased to ฿6.68 Dividend of ฿6.68 is 75% higher than last year. Ex-date: 9th May 2024 Payment date: 29th May 2024 Dividend yield will be 3.9%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 3.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Board Change • May 02
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿140, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 14x in the Packaging industry in Thailand. Total loss to shareholders of 31% over the past three years. New Risk • Mar 10
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 4.7% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿900.0m market cap, or US$25.4m). Reported Earnings • Mar 03
Full year 2023 earnings released: EPS: ฿18.71 (vs ฿14.25 in FY 2022) Full year 2023 results: EPS: ฿18.71 (up from ฿14.25 in FY 2022). Revenue: ฿1.59b (down 6.0% from FY 2022). Net income: ฿112.3m (up 31% from FY 2022). Profit margin: 7.1% (up from 5.1% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 10% per year. Anuncio • Mar 01
Thai O.P.P. Public Company Limited Proposes Dividend for the Fiscal Year 2023, Payable on May 29, 2024 Thai O.P.P. Public Company Limited announced that at its board meeting held on February 28, 2024, the board proposes to the 2024 AGM to approve the dividend payment for the fiscal year of 2023 at THB 6.68 per share, totalling THB 40,080,000 as details shown: Dividend Payment of THB 4.63 per share. The payment was derived from profit under non-BOI privilege which was subject to corporate income tax of 20% whereby individual shareholders are entitled to claim tax credit equaling the product of dividend times 20/80. Dividend Payment of THB 2.05 per share. The payment was derived from profit under BOI privilege. The record date for the right of shareholders to receive the dividend is scheduled to be on May 10, 2024. (if approved at the AGM 2024) and dividend payment will be made on May 29, 2024. Declared Dividend • Mar 01
Dividend of ฿6.68 announced Shareholders will receive a dividend of ฿6.68. Ex-date: 9th May 2024 Payment date: 29th May 2024 Dividend yield will be 4.4%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (24% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Board Change • Jan 29
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 28
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: ฿5.44 (vs ฿3.70 in 3Q 2022) Third quarter 2023 results: EPS: ฿5.44 (up from ฿3.70 in 3Q 2022). Revenue: ฿406.5m (down 4.2% from 3Q 2022). Net income: ฿32.6m (up 47% from 3Q 2022). Profit margin: 8.0% (up from 5.2% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Board Change • Nov 13
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Oct 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Oct 02
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: ฿5.40 (vs ฿5.30 in 2Q 2022) Second quarter 2023 results: EPS: ฿5.40 (up from ฿5.30 in 2Q 2022). Revenue: ฿405.2m (down 12% from 2Q 2022). Net income: ฿32.4m (up 1.8% from 2Q 2022). Profit margin: 8.0% (up from 6.9% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Board Change • Aug 15
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jul 11
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • May 08
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 19
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Dec 01
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Sep 15
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Aug 29
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: ฿5.30 (vs ฿3.32 in 2Q 2021) Second quarter 2022 results: EPS: ฿5.30 (up from ฿3.32 in 2Q 2021). Revenue: ฿460.6m (up 18% from 2Q 2021). Net income: ฿31.8m (up 60% from 2Q 2021). Profit margin: 6.9% (up from 5.1% in 2Q 2021). The increase in margin was driven by higher revenue. 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 6% per year. Board Change • Aug 03
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: ฿3.70 (vs ฿5.41 in 1Q 2021) First quarter 2022 results: EPS: ฿3.70 (down from ฿5.41 in 1Q 2021). Revenue: ฿427.9m (up 6.9% from 1Q 2021). Net income: ฿22.2m (down 32% from 1Q 2021). Profit margin: 5.2% (down from 8.1% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 2% per year. Board Change • May 05
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 1 highly experienced director. 4 independent directors (7 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿14.67 (down from ฿21.82 in FY 2020). Revenue: ฿1.60b (flat on FY 2020). Net income: ฿88.0m (down 33% from FY 2020). Profit margin: 5.5% (down from 8.2% in FY 2020). Revenue was in line with analyst estimates. 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 5% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 18
Third quarter 2021 earnings released: EPS ฿3.51 (vs ฿4.67 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ฿405.1m (up 3.2% from 3Q 2020). Net income: ฿21.0m (down 25% from 3Q 2020). Profit margin: 5.2% (down from 7.1% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Oct 28
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 1 highly experienced director. 4 independent directors (7 non-independent directors). Independent Chairman of the Board Arin Jira was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • May 16
First quarter 2021 earnings released: EPS ฿5.41 (vs ฿6.46 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿400.2m (down 6.7% from 1Q 2020). Net income: ฿32.4m (down 16% from 1Q 2020). Profit margin: 8.1% (down from 9.0% 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 13% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Anuncio • Apr 30
Thai O.P.P. Public Company Limited Approves Dividend for the Year 2020, Payable on May 28, 2021 Thai O.P.P. Public Company Limited at its annual general meeting of shareholders held on April 29, 2021, unanimously resolved to approve the allocation of profit and dividend payment for the year 2020 operative result at the rate of THB 6.33 per share, thus totaling the cash dividend to be paid in the amount of not exceeding THB 37,980,000. The record date for the right of shareholders to receive the dividend payments will be determined on May 10, 2021. The dividend payment date is set to be on May 28, 2021. Upcoming Dividend • Apr 30
Upcoming dividend of ฿6.33 per share Eligible shareholders must have bought the stock before 07 May 2021. Payment date: 28 May 2021. Trailing yield: 3.2%. Lower than top quartile of Thai dividend payers (4.8%). Higher than average of industry peers (1.7%). Valuation Update With 7 Day Price Move • Dec 01
Market pulls back on stock over the past week After last week's 19% share price decline to ฿189, the stock is trading at a trailing P/E ratio of 8.1x, down from the previous P/E ratio of 10x. This compares to an average P/E of 11x in the Packaging industry in Thailand. Total return to shareholders over the past three years is a loss of 10%. Valuation Update With 7 Day Price Move • Nov 24
Market bids up stock over the past week After last week's 29% share price gain to ฿232, the stock is trading at a trailing P/E ratio of 10x, up from the previous P/E ratio of 7.8x. This compares to an average P/E of 11x in the Packaging industry in Thailand. Total returns to shareholders over the past three years are 12%. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS ฿4.67 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿392.4m (down 5.6% from 3Q 2019). Net income: ฿28.0m (down 27% from 3Q 2019). Profit margin: 7.1% (down from 9.2% 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 9% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.