Upcoming Dividend • Apr 10
Upcoming dividend of ฿0.42 per share Eligible shareholders must have bought the stock before 17 April 2026. Payment date: 08 May 2026. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 6.3%. Lower than top quartile of Thai dividend payers (7.4%). Higher than average of industry peers (4.1%). Reported Earnings • Mar 03
Full year 2025 earnings released: EPS: ฿1.65 (vs ฿1.53 in FY 2024) Full year 2025 results: EPS: ฿1.65 (up from ฿1.53 in FY 2024). Revenue: ฿762.5m (up 10% from FY 2024). Net income: ฿165.5m (up 8.1% from FY 2024). Profit margin: 22% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 01
Dividend of ฿0.42 announced Shareholders will receive a dividend of ฿0.42. Ex-date: 17th April 2026 Payment date: 8th May 2026 Dividend yield will be 6.0%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 5.7% per year over the past 4 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 57% to shift the payout ratio to a potentially unsustainable range, which is more than the 44% EPS decline seen over the last 5 years. お知らせ • Feb 27
Sahathai Printing & Packaging Public Company Limited, Annual General Meeting, Apr 08, 2026 Sahathai Printing & Packaging Public Company Limited, Annual General Meeting, Apr 08, 2026, at 14:00 SE Asia Standard Time. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.37 (vs ฿0.40 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.37 (down from ฿0.40 in 3Q 2024). Revenue: ฿182.9m (up 1.1% from 3Q 2024). Net income: ฿36.7m (down 8.9% from 3Q 2024). Profit margin: 20% (down from 22% in 3Q 2024). The decrease in margin was driven by higher expenses. 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 14% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: ฿0.49 (vs ฿0.36 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.49 (up from ฿0.36 in 2Q 2024). Revenue: ฿203.8m (up 18% from 2Q 2024). Net income: ฿49.1m (up 35% from 2Q 2024). Profit margin: 24% (up from 21% in 2Q 2024). The increase in margin was driven by higher revenue. 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 9% per year, which means it is significantly lagging earnings. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: ฿0.44 (vs ฿0.38 in 1Q 2024) First quarter 2025 results: EPS: ฿0.44 (up from ฿0.38 in 1Q 2024). Revenue: ฿195.2m (up 21% from 1Q 2024). Net income: ฿43.7m (up 16% from 1Q 2024). Profit margin: 22% (down from 23% in 1Q 2024). The decrease in margin was driven by higher expenses. Upcoming Dividend • Apr 09
Upcoming dividend of ฿0.40 per share Eligible shareholders must have bought the stock before 16 April 2025. Payment date: 02 May 2025. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 8.6%. Within top quartile of Thai dividend payers (8.3%). Higher than average of industry peers (5.5%). Declared Dividend • Mar 01
Final dividend increased to ฿0.40 Dividend of ฿0.40 is 60% higher than last year. Ex-date: 16th April 2025 Payment date: 2nd May 2025 Dividend yield will be 6.0%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 3 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 62% to shift the payout ratio to a potentially unsustainable range, which is less than the 76% EPS decline seen over the last 5 years. Reported Earnings • Feb 28
Full year 2024 earnings released: EPS: ฿1.53 (vs ฿0.87 in FY 2023) Full year 2024 results: EPS: ฿1.53 (up from ฿0.87 in FY 2023). Revenue: ฿692.1m (up 35% from FY 2023). Net income: ฿153.1m (up 77% from FY 2023). Profit margin: 22% (up from 17% in FY 2023). The increase in margin was driven by higher revenue. お知らせ • Feb 28
Sahathai Printing & Packaging Public Company Limited, Annual General Meeting, Apr 04, 2025 Sahathai Printing & Packaging Public Company Limited, Annual General Meeting, Apr 04, 2025, at 14:00 SE Asia Standard Time. Declared Dividend • Aug 15
First half dividend of ฿0.25 announced Shareholders will receive a dividend of ฿0.25. Ex-date: 27th August 2024 Payment date: 11th September 2024 Dividend yield will be 3.9%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 69% to shift the payout ratio to a potentially unsustainable range, which is less than the 77% EPS decline seen over the last 5 years. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: ฿0.36 (vs ฿0.19 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.36 (up from ฿0.19 in 2Q 2023). Revenue: ฿172.2m (up 51% from 2Q 2023). Net income: ฿36.3m (up 95% from 2Q 2023). Profit margin: 21% (up from 16% in 2Q 2023). The increase in margin was driven by higher revenue. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: ฿0.38 (vs ฿0.14 in 1Q 2023) First quarter 2024 results: EPS: ฿0.38 (up from ฿0.14 in 1Q 2023). Revenue: ฿160.8m (up 55% from 1Q 2023). Net income: ฿37.6m (up 170% from 1Q 2023). Profit margin: 23% (up from 13% in 1Q 2023). The increase in margin was driven by higher revenue. Upcoming Dividend • Apr 11
Upcoming dividend of ฿0.25 per share Eligible shareholders must have bought the stock before 18 April 2024. Payment date: 09 May 2024. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Thai dividend payers (5.8%). Higher than average of industry peers (2.6%). New Risk • Apr 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 6.0% 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 High level of non-cash earnings (32% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (฿1.23b market cap, or US$33.5m). Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿11.40, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 13x in the Packaging industry in Thailand. Total loss to shareholders of 2.8% over the past year. お知らせ • Feb 29
Sahathai Printing & Packaging Public Company Limited, Annual General Meeting, Apr 09, 2024 Sahathai Printing & Packaging Public Company Limited, Annual General Meeting, Apr 09, 2024, at 14:00 SE Asia Standard Time. Agenda: To consider and adopt the Minutes of the Annual General Meeting of Shareholders 2023; To acknowledge the Board of Directors' report on the Company's Operating Results for the year ending 31 December 2023; To consider and approve Balance Sheet and Profit and Loss Statements for the fiscal period ending 31 December 2023. お知らせ • Feb 28
Sahathai Printing & Packaging Public Company Limited Proposes the Dividend for the Operating Period from 01 January 2023 to 31 December, 2023. Payable on May 09, 2024 Sahathai Printing & Packaging Public Company Limited proposed the Dividend of THB 0.25 per share for the Operating period from 01 January 2023 to 31 December, 2023. Payment date is 09-May-2024. Ex-dividend date is 18-Apr-2024. Record date for the right to receive dividends is 19-Apr-2024. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: ฿0.87 (vs ฿1.23 in FY 2022) Full year 2023 results: EPS: ฿0.87 (down from ฿1.23 in FY 2022). Revenue: ฿511.9m (down 5.5% from FY 2022). Net income: ฿86.7m (down 21% from FY 2022). Profit margin: 17% (down from 20% in FY 2022). The decrease in margin was driven by lower revenue. Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: ฿0.23 (vs ฿0.30 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.23 (down from ฿0.30 in 3Q 2022). Revenue: ฿136.9m (down 7.5% from 3Q 2022). Net income: ฿23.4m (down 21% from 3Q 2022). Profit margin: 17% (down from 20% in 3Q 2022). The decrease in margin was driven by lower revenue. お知らせ • Nov 09
Sahathai Printing & Packaging Public Company Limited Announces Management Changes Sahathai Printing & Packaging Public Company Limited at its board meeting held on November 8, 2023 approved the resignation of Mr. Prasert Rojwongjaras from being a director of the Company, effective from November 9, 2023 onwards. Approved the appointment Ms. Haruethai Rojwongcharas the director to replace of Mr. Prasert Rojwongjaras, effective from November 9, 2023 onwards, new directors will have a term of office equal to the remaining term of the resigning directors. After the appointment, the Board of Directors will consist of 9 members as follows Mr. Sawong - Dhangwatnotai - Chairman of the Board of Directors, Independent Director and Member of the Audit Committee, Mr. Thanadech- Mahapokai - Vice Chairman of the Board of Directors, Independent Director and Member of the Audit Committee, Mr. Somchat - Baramichai - Vice Chairman of the Board of Directors, Independent Director and Member of the Audit Committee, Ms. Amornrat - Rotwongjarat - Director, Mr. Surasak - Rojwongcharas - Director, Mrs. Nisachol - Chaiyawat - Director, Mr. Suranai - Rojwongcharas - Director, Mr. Prasong - Rojwongjaras - Director, Ms. Haruethai - Rojwongcharas - Director. Upcoming Dividend • Aug 18
Upcoming dividend of ฿0.10 per share at 3.9% yield Eligible shareholders must have bought the stock before 25 August 2023. Payment date: 08 September 2023. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (2.6%). Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: ฿0.19 (vs ฿0.39 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.19 (down from ฿0.39 in 2Q 2022). Revenue: ฿113.9m (down 21% from 2Q 2022). Net income: ฿18.6m (down 41% from 2Q 2022). Profit margin: 16% (down from 22% in 2Q 2022). The decrease in margin was driven by lower revenue. お知らせ • Aug 12
Sahathai Printing & Packaging Public Company Limited Announces Interim Dividend for the Operating Period from 01 January 2023 to 30 June 2023. Payable on September 08, 2023 Sahathai Printing & Packaging Public Company Limited announced the Interim Dividend of THB 0.10 per share for the Operating period from 01 January 2023 to 30 June 2023. Payment date is September 08, 2023. Ex-dividend date is August 25, 2023. Record date for the right to receive dividends is August 28, 2023. お知らせ • May 19
Sahathai Printing & Packaging Public Company Limited Appoints Thanadech Mahapokai and Somchat Baramichai as Vice Chairman of the Board of Directors Sahathai Printing & Packaging Public Company Limited announced that the Company's Board of Directors' meeting (2/2023) was held on May 12, 2023, as follows; The meeting appointed Mr. Thanadech Mahapokai and Mr. Somchat Baramichai as a Vice Chairman of the Board of Directors, effective from May 12, 2023, onward. Upcoming Dividend • Apr 26
Upcoming dividend of ฿0.25 per share at 5.2% yield Eligible shareholders must have bought the stock before 03 May 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 37% but the company is paying out more than the cash it is generating. Trailing yield: 5.2%. Lower than top quartile of Thai dividend payers (6.2%). Higher than average of industry peers (2.5%). Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿10.10, the stock trades at a trailing P/E ratio of 8.4x. Average forward P/E is 11x in the Packaging industry in Thailand. Reported Earnings • Nov 19
Third quarter 2022 earnings released Third quarter 2022 results: EPS: ฿0.30. Net income: ฿29.8m (up ฿29.8m from 3Q 2021). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Packaging industry in Thailand. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 18% share price gain to ฿18.20, the stock trades at a trailing P/E ratio of 15.4x. Average forward P/E is 10x in the Packaging industry in Thailand. Reported Earnings • Aug 19
Second quarter 2022 earnings released Second quarter 2022 results: EPS: ฿0.39. Net income: ฿31.6m (up ฿31.6m from 2Q 2021). Over the next year, revenue is forecast to grow 17%, compared to a 7.5% growth forecast for the Packaging industry in Thailand. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ฿13.60, the stock trades at a trailing P/E ratio of 11.1x. Average forward P/E is 10x in the Packaging industry in Thailand. 
