Upcoming Dividend • Apr 30
Upcoming dividend of ฿0.08 per share Eligible shareholders must have bought the stock before 07 May 2026. Payment date: 28 May 2026. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (3.3%). Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ฿2.08, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Hospitality industry in Thailand. Total loss to shareholders of 62% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿0.87 per share. New Risk • Mar 04
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 6.4% 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 Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings are forecast to decline by an average of 6.8% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results. Declared Dividend • Mar 02
Dividend of ฿0.08 announced Shareholders will receive a dividend of ฿0.08. Ex-date: 7th May 2026 Payment date: 28th May 2026 Dividend yield will be 3.2%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (38% 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 35% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to decline by 33% over the next 3 years. However, it would need to fall by 58% to increase the payout ratio to a potentially unsustainable range. Major Estimate Revision • Feb 28
Consensus EPS estimates increase by 46% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from ฿0.144 to ฿0.21. Revenue forecast steady at ฿19.7b. Net income forecast to grow 0.9% next year vs 18% growth forecast for Hospitality industry in Thailand. Consensus price target of ฿2.70 unchanged from last update. Share price was steady at ฿2.50 over the past week. Annuncio • Feb 28
Asset World Corp Public Company Limited announces Annual dividend, payable on May 28, 2026 Asset World Corp Public Company Limited announced Annual dividend of THB 0.0800 per share payable on May 28, 2026, ex-date on May 07, 2026 and record date on May 08, 2026. Annuncio • Feb 27
Asset World Corp Public Company Limited, Annual General Meeting, Apr 29, 2026 Asset World Corp Public Company Limited, Annual General Meeting, Apr 29, 2026, at 15:00 SE Asia Standard Time. Location: hybrid meeting, at grand ballroom, 2nd floor, the athenee hotel, a luxury collection hotel, bangkok Thailand Reported Earnings • Nov 13
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: ฿0.036 (in line with 3Q 2024). Revenue: ฿4.12b (up 9.2% from 3Q 2024). Net income: ฿1.15b (flat on 3Q 2024). Profit margin: 28% (down from 30% in 3Q 2024). Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Hospitality industry in Thailand. 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 30% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 28
Price target decreased by 7.6% to ฿2.77 Down from ฿2.99, the current price target is an average from 11 analysts. New target price is 28% above last closing price of ฿2.16. Stock is down 41% over the past year. The company is forecast to post earnings per share of ฿0.15 for next year compared to ฿0.18 last year. Reported Earnings • Aug 09
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: ฿0.044 (up from ฿0.039 in 2Q 2024). Revenue: ฿3.72b (up 5.2% from 2Q 2024). Net income: ฿1.40b (up 13% from 2Q 2024). Profit margin: 38% (up from 35% in 2Q 2024). Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) exceeded analyst estimates by 5.3%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Hospitality industry in Thailand. 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 25% per year, which means it is significantly lagging earnings. Annuncio • Aug 09
Asset World Corp Public Company Limited to Report First Half, 2025 Results on Aug 08, 2025 Asset World Corp Public Company Limited announced that they will report first half, 2025 results on Aug 08, 2025 New Risk • Jul 19
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 7.3% 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 Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings are forecast to decline by an average of 8.8% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Price Target Changed • May 13
Price target decreased by 9.8% to ฿3.42 Down from ฿3.79, the current price target is an average from 11 analysts. New target price is 69% above last closing price of ฿2.02. Stock is down 53% over the past year. The company is forecast to post earnings per share of ฿0.14 for next year compared to ฿0.18 last year. Reported Earnings • May 10
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: ฿0.062 (up from ฿0.05 in 1Q 2024). Revenue: ฿4.66b (up 8.8% from 1Q 2024). Net income: ฿1.97b (up 23% from 1Q 2024). Profit margin: 42% (up from 37% in 1Q 2024). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 2.5%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 01
Upcoming dividend of ฿0.075 per share Eligible shareholders must have bought the stock before 08 May 2025. Payment date: 28 May 2025. Payout ratio is a comfortable 41% but the company is paying out more than the cash it is generating. Trailing yield: 3.4%. Lower than top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (3.0%). Price Target Changed • Apr 28
Price target decreased by 7.0% to ฿3.62 Down from ฿3.89, the current price target is an average from 11 analysts. New target price is 64% above last closing price of ฿2.20. Stock is down 50% over the past year. The company is forecast to post earnings per share of ฿0.13 for next year compared to ฿0.18 last year. New Risk • Apr 08
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Dividend per share is over 6x cash flows per share. Dividend yield: 3.5% 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 Risks Interest payments are not well covered by earnings (2.1x net interest cover). Earnings are forecast to decline by an average of 4.5% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (dividend per share is over 6x cash flows per share). Large one-off items impacting financial results. Price Target Changed • Apr 03
Price target decreased by 7.1% to ฿3.89 Down from ฿4.19, the current price target is an average from 11 analysts. New target price is 62% above last closing price of ฿2.40. Stock is down 43% over the past year. The company is forecast to post earnings per share of ฿0.13 for next year compared to ฿0.18 last year. Declared Dividend • Mar 01
Dividend increased to ฿0.075 Dividend of ฿0.075 is 50% higher than last year. Ex-date: 8th May 2025 Payment date: 28th May 2025 Dividend yield will be 2.6%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (dividend approximately 6x free cash flows). The dividend has increased by an average of 43% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to decline by 16% over the next 2 years. However, it would need to fall by 54% to increase the payout ratio to a potentially unsustainable range. Annuncio • Feb 28
Asset World Corp Public Company Limited (SET:AWC) agreed to acquire remaining 49% stake in AWC Hospitality Development Co., Ltd. for THB 0.49 million. Asset World Corp Public Company Limited (SET:AWC) agreed to acquire remaining 49% stake in AWC Hospitality Development Co., Ltd. for THB 0.49 million on February 26, 2025. Upon completion, Asset World Corp Public Company Limited will own 100% stake in AWC Hospitality Development Co., Ltd. The transaction has been approved by board of Asset World Corp Public Company Limited. Reported Earnings • Feb 27
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: ฿0.18 (up from ฿0.16 in FY 2023). Revenue: ฿16.0b (up 14% from FY 2023). Net income: ฿5.85b (up 15% from FY 2023). Profit margin: 37% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. New Risk • Feb 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Interest payments are not well covered by earnings (2.0x net interest cover). Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Annuncio • Jan 23
Asset World Corp Public Company Limited Announces Change of Chief Financial Officer Asset World Corp. Public Company Limited announced changing of Chief Financial Officer from Mrs. Arunrung Tankiattichai as Acting Chief Financial Officer. Effective Date of Termination is 23 January 2025 to Mr. Chayanon Horpattaporn as Chief Financial Officer. Effective Date of Appointment is 23 January 2025. New Risk • Jan 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Interest payments are not well covered by earnings (2.0x net interest cover). Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Annuncio • Jan 03
Asset World Corp Public Company Limited Announces Chief Financial Officer Changes Asset World Corp. Public Company Limited announced Chief Financial Officer changes. Dr. Karn Prativedwannakij: Effective Date of Termination is 02 January 2025. Mrs. Arunrung Tankiattichai: Effective Date of Appointment is 02 January 2025. Reported Earnings • Nov 13
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: ฿0.036 (in line with 3Q 2023). Revenue: ฿3.78b (up 11% from 3Q 2023). Net income: ฿1.14b (flat on 3Q 2023). Profit margin: 30% (down from 33% in 3Q 2023). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 19%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Major Estimate Revision • Sep 02
Consensus EPS estimates increase by 22% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ฿0.15 to ฿0.183. Revenue forecast steady at ฿16.5b. Net income forecast to shrink 13% next year vs 1.7% growth forecast for Hospitality industry in Thailand . Consensus price target broadly unchanged at ฿4.70. Share price fell 9.7% to ฿3.34 over the past week. Reported Earnings • Aug 15
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: ฿0.039 (up from ฿0.035 in 2Q 2023). Revenue: ฿3.53b (up 9.5% from 2Q 2023). Net income: ฿1.25b (up 11% from 2Q 2023). Profit margin: 35% (in line with 2Q 2023). Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) exceeded analyst estimates by 49%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Major Estimate Revision • Jun 08
Consensus EPS estimates increase by 32% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ฿0.091 to ฿0.121. Revenue forecast steady at ฿17.5b. Net income forecast to shrink 20% next year vs 7.7% growth forecast for Hospitality industry in Thailand . Consensus price target of ฿4.91 unchanged from last update. Share price fell 4.7% to ฿3.62 over the past week. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: ฿0.05 (vs ฿0.044 in 1Q 2023) First quarter 2024 results: EPS: ฿0.05 (up from ฿0.044 in 1Q 2023). Revenue: ฿4.29b (up 20% from 1Q 2023). Net income: ฿1.60b (up 13% from 1Q 2023). Profit margin: 37% (down from 40% in 1Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 02
Upcoming dividend of ฿0.05 per share Eligible shareholders must have bought the stock before 09 May 2024. Payment date: 24 May 2024. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Thai dividend payers (6.0%). Lower than average of industry peers (1.8%). Declared Dividend • Mar 01
Dividend increased to ฿0.05 Dividend of ฿0.05 is 56% higher than last year. Ex-date: 9th May 2024 Payment date: 24th May 2024 Dividend yield will be 1.3%, which is lower than the industry average of 1.7%. Payout Ratios Payout ratio: 20%. Cash payout ratio: 38%. Reported Earnings • Feb 29
Full year 2023 earnings released Full year 2023 results: Revenue: ฿14.0b (up 46% from FY 2022). Net income: ฿5.10b (up 28% from FY 2022). Profit margin: 36% (down from 42% in FY 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in Thailand. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿4.14, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 31x in the Hospitality industry in Thailand. Total loss to shareholders of 13% over the past three years. Reported Earnings • Nov 09
Third quarter 2023 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2023 results: EPS: ฿0.036 (up from ฿0.032 in 3Q 2022). Revenue: ฿3.40b (up 33% from 3Q 2022). Net income: ฿1.14b (up 11% from 3Q 2022). Profit margin: 33% (down from 40% in 3Q 2022). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 11
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: ฿0.035 (up from ฿0.024 in 2Q 2022). Revenue: ฿3.23b (up 61% from 2Q 2022). Net income: ฿1.12b (up 45% from 2Q 2022). Profit margin: 35% (down from 39% in 2Q 2022). Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Annuncio • Aug 01
Asset World Corp Public Company Limited Announces Resignation of Weerawong Chittmittrapap, Director Asset World Corp. Public Company Limited announced that Mr. Weerawong Chittmittrapap; Director and the Corporate Governance and Sustainability Committee, has submitted his resignation from his position of director including all other positions he holds in the Company due to his other obligations and responsibilities. Such resignation shall take effect from July 27, 2023, onwards. Therefore, the Company will proceed for the process of selection and nomination of suitable and appropriate candidate to serve as director as a replacement of the vacant position and the Company will further notify the Stock Exchange of Thailand and investor. New Risk • Jun 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.9% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Interest payments are not well covered by earnings (1.6x net interest cover). Earnings are forecast to decline by an average of 1.9% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Annuncio • Jun 16
Asset World Corp Public Company Limited (SET:AWC) entered into an agreement to acquire Plaza Athenee Hotel (thailand) Co., Ltd. from Plaza Athenee Hotel Company Limited for THB 7.78 billion. Asset World Corp Public Company Limited (SET:AWC) entered into an agreement to acquire Plaza Athenee Hotel (thailand) Co., Ltd. from Plaza Athenee Hotel Company Limited for THB 7.78 billion on June 14, 2023. Asset World Corp Public Company approved the acquisition and the deal is subject to shareholder's approval. Reported Earnings • May 17
First quarter 2023 earnings released: EPS: ฿0.044 (vs ฿0.02 in 1Q 2022) First quarter 2023 results: EPS: ฿0.044 (up from ฿0.02 in 1Q 2022). Revenue: ฿3.56b (up 121% from 1Q 2022). Net income: ฿1.42b (up 120% from 1Q 2022). Profit margin: 40% (in line with 1Q 2022). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 02
Upcoming dividend of ฿0.032 per share at 0.6% yield Eligible shareholders must have bought the stock before 09 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Thai dividend payers (6.2%). Lower than average of industry peers (1.3%). Major Estimate Revision • Mar 22
Consensus EPS estimates fall by 17%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from ฿14.0b to ฿14.5b. EPS estimate fell from ฿0.06 to ฿0.05 per share. Net income forecast to shrink 56% next year vs 67% growth forecast for Hospitality industry in Thailand . Consensus price target broadly unchanged at ฿5.79. Share price rose 4.7% to ฿5.60 over the past week. Major Estimate Revision • Dec 10
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from ฿0.06 to ฿0.08. Revenue forecast steady at ฿8.79b. Net income forecast to shrink 35% next year vs 19% growth forecast for Hospitality industry in Thailand . Consensus price target down from ฿5.91 to ฿5.67. Share price was steady at ฿6.20 over the past week. Major Estimate Revision • Nov 16
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from ฿8.96b to ฿8.73b. EPS estimate rose from ฿0.02 to ฿0.05. Net income forecast to shrink 49% next year vs 21% growth forecast for Hospitality industry in Thailand . Consensus price target of ฿5.54 unchanged from last update. Share price was steady at ฿5.95 over the past week. Major Estimate Revision • Oct 29
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from ฿0.07 to ฿0.03 per share. Revenue forecast steady at ฿8.96b. Net income forecast to shrink 49% next year vs 22% growth forecast for Hospitality industry in Thailand . Consensus price target of ฿5.54 unchanged from last update. Share price was steady at ฿5.95 over the past week. Major Estimate Revision • Sep 08
Consensus forecasts updated The consensus outlook for 2022 has been updated. Hospitality industry in Thailand expected to see average net income growth of 29% next year. Consensus price target broadly unchanged at ฿5.37. Share price was steady at ฿5.65 over the past week. Major Estimate Revision • Aug 17
Consensus forecasts updated The consensus outlook for 2022 has been updated. Hospitality industry in Thailand expected to see average net income growth of 26% next year. Consensus price target broadly unchanged at ฿5.27. Share price rose 3.8% to ฿5.40 over the past week. Reported Earnings • Aug 12
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: ฿0.024 (up from ฿0.006 loss in 2Q 2021). Revenue: ฿2.00b (up 103% from 2Q 2021). Net income: ฿776.5m (up ฿975.0m from 2Q 2021). Profit margin: 39% (up from net loss in 2Q 2021). Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 98%, compared to a 63% growth forecast for the industry in Thailand. Major Estimate Revision • May 25
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from ฿0.01 to ฿0.01. Revenue forecast steady at ฿8.66b. Net income forecast to shrink 75% next year vs 29% growth forecast for Hospitality industry in Thailand . Consensus price target broadly unchanged at ฿5.14. Share price was steady at ฿4.90 over the past week. Reported Earnings • May 14
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: ฿0.02 (up from ฿0.019 loss in 1Q 2021). Revenue: ฿1.61b (up 46% from 1Q 2021). Net income: ฿645.1m (up ฿1.24b from 1Q 2021). Profit margin: 40% (up from net loss in 1Q 2021). Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 102%, compared to a 63% growth forecast for the industry in Thailand. Upcoming Dividend • Apr 21
Upcoming dividend of ฿0.011 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 20 May 2022. Trailing yield: 0.2%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (0.8%). Major Estimate Revision • Mar 29
Consensus forecasts updated The consensus outlook for 2022 has been updated. Hospitality industry in Thailand expected to see average net income growth of 28% next year. Consensus price target broadly unchanged at ฿4.99. Share price was steady at ฿5.00 over the past week. Reported Earnings • Feb 20
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: ฿0.027 (up from ฿0.059 loss in FY 2020). Revenue: ฿4.40b (down 28% from FY 2020). Net income: ฿861.5m (up ฿2.74b from FY 2020). Profit margin: 20% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 100%, compared to a 53% growth forecast for the restaurants industry in Thailand. Major Estimate Revision • Jan 20
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 expected loss increased from -฿0.06 to -฿0.07 per share. Revenue forecast unchanged at ฿4.31b. Hospitality industry in Thailand expected to see average net income growth of 32% next year. Consensus price target broadly unchanged at ฿4.79. Share price was steady at ฿4.68 over the past week. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS ฿21.47 (vs ฿0.019 loss in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ฿808.0m (down 36% from 3Q 2020). Net income: ฿687.0m (up ฿1.31b from 3Q 2020). Profit margin: 85% (up from net loss in 3Q 2020). Reported Earnings • Aug 13
Second quarter 2021 earnings released: ฿0.006 loss per share (vs ฿0.027 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: ฿987.0m (up 27% from 2Q 2020). Net loss: ฿198.5m (loss narrowed 77% from 2Q 2020). Major Estimate Revision • Aug 10
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from ฿5.96b to ฿6.71b. EPS estimate unchanged from -฿0.053 at last update. Hospitality industry in Thailand expected to see average net income growth of 69% next year. Consensus price target broadly unchanged at ฿5.03. Share price rose 2.7% to ฿3.86 over the past week. Major Estimate Revision • Jul 29
Consensus EPS estimates fall to -฿0.058 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from ฿6.25b to ฿5.96b. Losses expected to increase from -฿0.052 to -฿0.058. Hospitality industry in Thailand expected to see average net income growth of 80% next year. Consensus price target broadly unchanged at ฿5.13. Share price fell 2.1% to ฿3.78 over the past week. Executive Departure • Jul 06
Company Secretary Chayada Yodyingtammakul has left the company On the 29th of June, Chayada Yodyingtammakul's tenure as Company Secretary ended after less than a year in the role. We don't have any record of a personal shareholding under Chayada 's name. A total of 6 executives have left over the last 12 months. The current median tenure of the management team is 2.17 years. Major Estimate Revision • Jun 14
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from ฿6.09b to ฿7.65b. EPS estimate unchanged from -฿0.03 at last update. Hospitality industry in Thailand expected to see average net income growth of 91% next year. Consensus price target of ฿5.10 unchanged from last update. Share price rose 2.2% to ฿5.05 over the past week. Executive Departure • May 23
Company Secretary has left the company On the 13th of May, Duangporn Kijlertbunjong's tenure in the role of Company Secretary ended. We don't have any record of a personal shareholding under Duangporn's name. A total of 5 executives have left over the last 12 months. Reported Earnings • May 15
First quarter 2021 earnings released: ฿0.019 loss per share (vs ฿0.008 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: ฿1.10b (down 56% from 1Q 2020). Net loss: ฿594.0m (down 325% from profit in 1Q 2020). Major Estimate Revision • May 14
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from ฿8.45b to ฿7.60b. EPS estimate increased from -฿0.022 to -฿0.016 per share. Hospitality industry in Thailand expected to see average net income growth of 102% next year. Consensus price target broadly unchanged at ฿5.19. Share price fell 2.9% to ฿4.64 over the past week. Major Estimate Revision • Mar 18
Consensus EPS estimates increase to -฿0.015 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from ฿8.47b to ฿9.24b. EPS estimate increased from -฿0.019 to -฿0.015. Hospitality industry in Thailand expected to see average net income growth of 70% next year. Consensus price target up from ฿4.86 to ฿5.02. Share price was steady at ฿5.50 over the past week. Is New 90 Day High Low • Mar 08
New 90-day high: ฿5.35 The company is up 6.0% from its price of ฿5.05 on 08 December 2020. The Thai market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿0.30 per share. Major Estimate Revision • Feb 22
Analysts update estimates The 2021 consensus revenue estimate was lowered from ฿9.28b to ฿8.23b. Earning per share (EPS) estimate was unchanged from the last update at -฿0.019. The Hospitality industry in Thailand is expected to see an average net income growth of 45% next year. The consensus price target increased from ฿4.81 to ฿4.89. Share price stayed mostly flat at ฿4.70 over the past week. Reported Earnings • Feb 16
Full year 2020 earnings released: ฿0.059 loss per share (vs ฿0.041 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ฿6.14b (down 47% from FY 2019). Net loss: ฿1.88b (down 278% from profit in FY 2019). Analyst Estimate Surprise Post Earnings • Feb 16
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.5%. Earnings per share (EPS) missed analyst estimates by 5.5%. Over the next year, revenue is forecast to grow 33%, compared to a 16% growth forecast for the Hospitality industry in Thailand. Reported Earnings • Nov 11
Third quarter 2020 earnings released: ฿0.019 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: ฿1.27b (down 61% from 3Q 2019). Net loss: ฿620.4m (down 434% from profit in 3Q 2019). Analyst Estimate Surprise Post Earnings • Nov 11
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 11%. Over the next year, revenue is forecast to grow 59% compared to a 3.3% decline forecast for the Hospitality industry in Thailand. Is New 90 Day High Low • Nov 10
New 90-day high: ฿4.08 The company is up 4.0% from its price of ฿3.92 on 11 August 2020. The Thai market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿0.0019 per share. Major Estimate Revision • Oct 20
Analysts lower EPS estimates to -฿0.027 The 2020 consensus revenue estimate was lowered from ฿6.89b to ฿6.73b. The company's losses are expected to worsen with analysts lowering their EPS forecasts from -฿0.024 to -฿0.027 for the same period. The Hospitality industry in Thailand is expected to see an average net income growth of 23% next year. The consensus price target was lowered from ฿3.78 to ฿3.73. Share price is down by 7.7% to ฿3.10 over the past week. Is New 90 Day High Low • Oct 14
New 90-day low: ฿3.32 The company is down 17% from its price of ฿4.00 on 16 July 2020. The Thai market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿0.0026 per share. Major Estimate Revision • Sep 29
Analysts lower EPS estimates to -฿0.019 The 2020 consensus revenue estimate was lowered from ฿7.26b to ฿7.17b. The company's losses are expected to worsen with analysts lowering their EPS forecasts from -฿0.01 to -฿0.019 for the same period. The Hospitality industry in Thailand is expected to see an average net income growth of 18% next year. The consensus price target was lowered from ฿4.15 to ฿4.01. Share price is down by 4.7% to ฿3.66 over the past week. Is New 90 Day High Low • Sep 25
New 90-day low: ฿3.72 The company is down 2.0% from its price of ฿3.80 on 26 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿0.0047 per share. 
