Annuncio • Mar 19
Solartron Public Company Limited, Annual General Meeting, Apr 30, 2026 Solartron Public Company Limited, Annual General Meeting, Apr 30, 2026, at 13:00 SE Asia Standard Time. Location: the magnolia 1 room, tk palace hotel & convention, located at 54/7 chaengwattana rd., soi changwattana15, thungsonghong, laksi, bangkok, 10210, thailand., bangkok Thailand New Risk • Nov 18
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿261.4m (US$8.06m) This is considered a major 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-฿28m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Market cap is less than US$10m (฿261.4m market cap, or US$8.06m). Reported Earnings • Nov 16
Third quarter 2025 earnings released: ฿0.035 loss per share (vs ฿0.066 profit in 3Q 2024) Third quarter 2025 results: ฿0.035 loss per share (down from ฿0.066 profit in 3Q 2024). Revenue: ฿222.4m (up 88% from 3Q 2024). Net loss: ฿46.3m (down 157% from profit in 3Q 2024). 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 35% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 10
Second quarter 2025 earnings released: ฿0.04 loss per share (vs ฿0.047 loss in 2Q 2024) Second quarter 2025 results: ฿0.04 loss per share (improved from ฿0.047 loss in 2Q 2024). Revenue: ฿183.4m (up 237% from 2Q 2024). Net loss: ฿56.2m (loss narrowed 5.5% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Annuncio • Jun 20
Solartron Public Company Limited Appoints Nataporn Ingkaninun as Chief Financial Officer, Effective June 16, 2025 Solartron Public Company Limited announced appointment of Mr. Nataporn Ingkaninun as Chief Financial Officer, Effective Date of appointment is June 16, 2025. New Risk • May 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿313.7m (US$9.57m) This is considered a major 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: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Market cap is less than US$10m (฿313.7m market cap, or US$9.57m). Reported Earnings • May 17
First quarter 2025 earnings released: ฿0.062 loss per share (vs ฿0.014 loss in 1Q 2024) First quarter 2025 results: ฿0.062 loss per share (further deteriorated from ฿0.014 loss in 1Q 2024). Revenue: ฿118.6m (up 130% from 1Q 2024). Net loss: ฿81.7m (loss widened 387% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. New Risk • Apr 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Market cap is less than US$10m (฿313.7m market cap, or US$9.40m). Annuncio • Mar 14
Solartron Public Company Limited has filed a Follow-on Equity Offering. Solartron Public Company Limited has filed a Follow-on Equity Offering.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 261,424,000
Transaction Features: Subsequent Direct Listing Annuncio • Mar 13
Solartron Public Company Limited, Annual General Meeting, Apr 21, 2025 Solartron Public Company Limited, Annual General Meeting, Apr 21, 2025, at 13:00 SE Asia Standard Time. Location: tk palace hotel & convention, located, at 54/7 chaengwattana rd., soi changwattana15, thungsonghong, laksi, bangkok 10210 Thailand Annuncio • Mar 12
Solartron Public Company Limited Appoints Co-Chief Executive Officers Solartron Public Company Limited at its board meeting held on March 12, 2025, appointed Mrs. Patama Wongtoythong, as the Co-Chief Executive Officer; appointed Mr. Jumphol Vatasunthonkun, as the Co-Chief Executive Officer, effective from March, 2025. New Risk • Feb 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿326.8m (US$9.57m) This is considered a major 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: Major Risks Debt is not well covered by operating cash flow (3.3% operating cash flow to total debt). Market cap is less than US$10m (฿326.8m market cap, or US$9.57m). Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.3% net profit margin). New Risk • Feb 06
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 6.6% 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: Major Risk Debt is not well covered by operating cash flow (3.3% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.3% net profit margin). Market cap is less than US$100m (฿392.1m market cap, or US$11.6m). New Risk • Dec 13
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 6.3% 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: Major Risk Debt is not well covered by operating cash flow (3.3% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.3% net profit margin). Shareholders have been diluted in the past year (9.2% increase in shares outstanding). Market cap is less than US$100m (฿614.3m market cap, or US$18.1m). New Risk • Nov 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (7.7% net profit margin). Shareholders have been diluted in the past year (9.2% increase in shares outstanding). Market cap is less than US$100m (฿640.5m market cap, or US$18.4m). Reported Earnings • Aug 16
Second quarter 2024 earnings released: ฿0.05 loss per share (vs ฿0.009 profit in 2Q 2023) Second quarter 2024 results: ฿0.05 loss per share (down from ฿0.009 profit in 2Q 2023). Revenue: ฿54.4m (down 36% from 2Q 2023). Net loss: ฿59.5m (down ฿69.1m from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. New Risk • Jun 13
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 6.1% 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: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Profit margins are more than 30% lower than last year (2.3% net profit margin). Shareholders have been diluted in the past year (9.2% increase in shares outstanding). Market cap is less than US$100m (฿640.5m market cap, or US$17.5m). New Risk • May 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.3% Last year net profit margin: 8.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Profit margins are more than 30% lower than last year (2.3% net profit margin). Shareholders have been diluted in the past year (9.2% increase in shares outstanding). Market cap is less than US$100m (฿810.4m market cap, or US$22.3m). Reported Earnings • May 17
First quarter 2024 earnings released: ฿0.01 loss per share (vs ฿0.14 profit in 1Q 2023) First quarter 2024 results: ฿0.01 loss per share (down from ฿0.14 profit in 1Q 2023). Revenue: ฿51.6m (down 30% from 1Q 2023). Net loss: ฿16.8m (down 111% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Annuncio • May 08
Solartron Public Company Limited Announces Audit Committee/ Renewal for the Term of Audit Committee Solartron Public Company Limited announced Appointment of the audit committee/Renewal for the term of audit committee: General Pudit Tattiyachot, Pol Lt Gen Saridchai Anakevieng, Mr. Somchai Cheewasutthanon as Chairman of the Audit Committee. The appointment/renewal of which shall take an effect as of May 3, 2024. The audit committee is consisted of: Chairman of the Audit Committee General Pudit Tattiyachot The remaining term 1 yearAudit Committee Pol Lt Gen Saridchai Anakevieng. The remaining term 1 year. Audit Committee Mr. Somchai Cheewasutthanon The remaining term 2 years. Annuncio • Apr 26
Solartron Public Company Limited has completed a Follow-on Equity Offering in the amount of THB 88.037634 million. Solartron Public Company Limited has completed a Follow-on Equity Offering in the amount of THB 88.037634 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 110,047,043
Price\Range: THB 0.8
Transaction Features: Rights Offering Annuncio • Mar 16
Solartron Public Company Limited, Annual General Meeting, Apr 29, 2024 Solartron Public Company Limited, Annual General Meeting, Apr 29, 2024, at 10:00 SE Asia Standard Time. Location: TK. Palace Hotel & Convention, located at 54/7 Chaengwattana Rd Soi 15, Thungsonghong, Laksi, Bangkok, Thailand Bangkok Thailand Agenda: To Certify the Minutes of the 2023 Annual General Shareholders Meeting held on April 26, 2023; to acknowledge the Company's annual operating results for the year 2023; to consider and approve the audited Statement of financial Position and Statement of Comprehensive Income for the year ended 31 December 2023 and the auditor's report; and to consider other matters. Reported Earnings • Mar 04
Full year 2023 earnings released: EPS: ฿0.15 (vs ฿0.15 loss in FY 2022) Full year 2023 results: EPS: ฿0.15 (up from ฿0.15 loss in FY 2022). Revenue: ฿418.3m (up 54% from FY 2022). Net income: ฿173.8m (up ฿340.9m from FY 2022). Profit margin: 42% (up from net loss in FY 2022). Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Annuncio • Mar 02
Solartron Public Company Limited has filed a Follow-on Equity Offering in the amount of THB 174.1192 million. Solartron Public Company Limited has filed a Follow-on Equity Offering in the amount of THB 174.1192 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 217,649,000
Price\Range: THB 0.8
Transaction Features: Rights Offering Annuncio • Dec 20
Solartron Public Company Limited, Annual General Meeting, Mar 05, 2024 Solartron Public Company Limited, Annual General Meeting, Mar 05, 2024, at 08:00 Coordinated Universal Time. Reported Earnings • Nov 16
Third quarter 2023 earnings released: EPS: ฿0.005 (vs ฿0.047 loss in 3Q 2022) Third quarter 2023 results: EPS: ฿0.005 (up from ฿0.047 loss in 3Q 2022). Revenue: ฿127.9m (up 116% from 3Q 2022). Net income: ฿5.90m (up ฿57.4m from 3Q 2022). Profit margin: 4.6% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Annuncio • Nov 15
Solartron Public Company Limited has filed a Follow-on Equity Offering in the amount of THB 264 million. Solartron Public Company Limited has filed a Follow-on Equity Offering in the amount of THB 264 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 330,000,000
Price\Range: THB 0.8
Transaction Features: Subsequent Direct Listing Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: ฿0.01 (vs ฿0.04 loss in 2Q 2022) Second quarter 2023 results: EPS: ฿0.01 (up from ฿0.04 loss in 2Q 2022). Revenue: ฿85.2m (up 12% from 2Q 2022). Net income: ฿9.57m (up ฿53.6m from 2Q 2022). Profit margin: 11% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • May 19
First quarter 2023 earnings released: EPS: ฿0.14 (vs ฿0.038 loss in 1Q 2022) First quarter 2023 results: EPS: ฿0.14 (up from ฿0.038 loss in 1Q 2022). Revenue: ฿73.6m (down 3.5% from 1Q 2022). Net income: ฿147.8m (up ฿189.5m from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Annuncio • May 09
Solartron Public Company Limited has completed a Follow-on Equity Offering in the amount of THB 87.0592 million. Solartron Public Company Limited has completed a Follow-on Equity Offering in the amount of THB 87.0592 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 108,824,000
Price\Range: THB 0.8
Transaction Features: Subsequent Direct Listing Reported Earnings • Nov 19
Third quarter 2022 earnings released: ฿0.05 loss per share (vs ฿0.14 loss in 3Q 2021) Third quarter 2022 results: ฿0.05 loss per share (improved from ฿0.14 loss in 3Q 2021). Revenue: ฿59.2m (up 139% from 3Q 2021). Net loss: ฿51.5m (loss narrowed 32% from 3Q 2021). 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 10% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Saridchai Anakevieng was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Aug 17
Second quarter 2022 earnings released: ฿0.04 loss per share (vs ฿0.11 loss in 2Q 2021) Second quarter 2022 results: ฿0.04 loss per share (up from ฿0.11 loss in 2Q 2021). Revenue: ฿76.0m (up 75% from 2Q 2021). Net loss: ฿45.1m (loss narrowed 22% from 2Q 2021). 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 17% per year, which means it is significantly lagging earnings. Reported Earnings • May 19
First quarter 2022 earnings released: ฿0.04 loss per share (vs ฿0.11 loss in 1Q 2021) First quarter 2022 results: ฿0.04 loss per share (up from ฿0.11 loss in 1Q 2021). Revenue: ฿76.3m (up 34% from 1Q 2021). Net loss: ฿41.7m (loss narrowed 28% from 1Q 2021). 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 16% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Saridchai Anakevieng was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Mar 03
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: ฿0.51 loss per share (up from ฿0.99 loss in FY 2020). Revenue: ฿182.1m (down 38% from FY 2020). Net loss: ฿282.9m (loss narrowed 48% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Reported Earnings • Nov 17
Third quarter 2021 earnings released: ฿0.14 loss per share (vs ฿0.09 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: ฿24.8m (down 81% from 3Q 2020). Net loss: ฿75.9m (loss widened 56% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 8% per year and the company’s share price has also fallen by 8% per year. Board Change • Aug 25
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Thanee Tembunsak was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Executive Departure • Aug 25
Independent Director Kitti Pintavirooj has left the company On the 17th of August, Kitti Pintavirooj's tenure as Independent Director ended after 4.3 years in the role. We don't have any record of a personal shareholding under Kitti's name. A total of 2 executives have left over the last 12 months. Reported Earnings • Aug 18
Second quarter 2021 earnings released: ฿0.11 loss per share (vs ฿0.093 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: ฿43.4m (down 37% from 2Q 2020). Net loss: ฿57.5m (loss widened 14% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 5% per year. Reported Earnings • May 19
First quarter 2021 earnings released: ฿0.11 loss per share (vs ฿0.13 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: ฿57.0m (up 20% from 1Q 2020). Net loss: ฿57.5m (loss narrowed 21% from 1Q 2020). 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 15% per year, which means it is significantly lagging earnings. Executive Departure • Apr 08
Director has left the company On the 1st of April, Akaradej Rojmeta's tenure in the role of Director ended. As of December 2020, Akaradej personally held 21.53m shares (฿25m worth at the time). Akaradej is the only executive to leave the company over the last 12 months. Is New 90 Day High Low • Mar 15
New 90-day high: ฿1.94 The company is up 111% from a price of ฿0.92 on 15 December 2020. Outperformed the Thai market which is up 7.0% over the last 90 days. Exceeded the Electrical industry, which is up 7.0% over the same period. Reported Earnings • Mar 03
Full year 2020 earnings released: ฿0.99 loss per share (vs ฿0.80 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: ฿292.2m (down 32% from FY 2019). Net loss: ฿540.9m (loss widened 24% from FY 2019). 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 16% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 10
New 90-day high: ฿1.46 The company is up 60% from its price of ฿0.91 on 12 November 2020. The Thai market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 18% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: ฿1.38 The company is up 47% from its price of ฿0.94 on 07 October 2020. The Thai market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 5.0% over the same period. Is New 90 Day High Low • Dec 16
New 90-day high: ฿0.98 The company is up 7.0% from its price of ฿0.92 on 17 September 2020. The Thai market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Electrical industry, which is up 4.0% over the same period. Reported Earnings • Nov 18
Third quarter 2020 earnings released: ฿0.09 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: ฿132.6m (up 15% from 3Q 2019). Net loss: ฿48.8m (loss narrowed 58% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 19
New 90-day low: ฿0.87 The company is down 17% from its price of ฿1.05 on 21 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is down 11% over the same period. Is New 90 Day High Low • Sep 30
New 90-day low: ฿0.90 The company is down 21% from its price of ฿1.14 on 02 July 2020. The Thai market is down 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is down 8.0% over the same period.