Declared Dividend • Feb 28
Final dividend of ฿0.30 announced Shareholders will receive a dividend of ฿0.30. Ex-date: 10th March 2026 Payment date: 22nd May 2026 Dividend yield will be 7.7%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 18% to shift the payout ratio to a potentially unsustainable range, which is more than the 13% EPS decline seen over the last 5 years. お知らせ • Feb 25
United Paper Public Company Limited, Annual General Meeting, Apr 24, 2026 United Paper Public Company Limited, Annual General Meeting, Apr 24, 2026, at 10:00 SE Asia Standard Time. Location: rama gardens hotel bangkok, canna room, no.9/9, vibhavadi rangsit road, laksi, bangkok 10210, bangkok Thailand Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.19 (vs ฿0.17 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.19 (up from ฿0.17 in 3Q 2024). Revenue: ฿892.9m (up 5.6% from 3Q 2024). Net income: ฿123.7m (up 13% from 3Q 2024). Profit margin: 14% (up from 13% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ฿0.21 (vs ฿0.31 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.21 (down from ฿0.31 in 2Q 2024). Revenue: ฿956.5m (down 17% from 2Q 2024). Net income: ฿138.2m (down 31% from 2Q 2024). Profit margin: 14% (down from 17% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: ฿0.21 (vs ฿0.28 in 1Q 2024) First quarter 2025 results: EPS: ฿0.21 (down from ฿0.28 in 1Q 2024). Revenue: ฿1.00b (up 2.6% from 1Q 2024). Net income: ฿137.3m (down 23% from 1Q 2024). Profit margin: 14% (down from 18% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Declared Dividend • Feb 28
Final dividend reduced to ฿0.30 Dividend of ฿0.30 is 38% lower than last year. Ex-date: 11th March 2025 Payment date: 23rd May 2025 Dividend yield will be 8.1%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not adequately covered by cash flows (99% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 9.0% to shift the payout ratio to a potentially unsustainable range, which is more than the 6.4% EPS decline seen over the last 5 years. お知らせ • Feb 27
United Paper Public Company Limited Proposes Cash Dividend Payment for the Operating Period from January 1, 2024, to December 31, 2024, Payable on May 23, 2025 United Paper Public Company Limited (UTP) at its AGM to be held on 25 April 2025 proposed a cash dividend payment of THB 0.30 per share for common shareholders. The dividend is derived from the net profit and retained earnings of the non-BOI privileged business for the operating period from January 1, 2024, to December 31, 2024. The record date for the right to receive dividends is set for March 12, 2025, with an ex-dividend date of March 11, 2025. The payment date is scheduled for May 23, 2025. Date of Board resolution is February 26, 2025. Reported Earnings • Feb 27
Full year 2024 earnings released: EPS: ฿0.95 (vs ฿1.35 in FY 2023) Full year 2024 results: EPS: ฿0.95 (down from ฿1.35 in FY 2023). Revenue: ฿3.93b (down 3.7% from FY 2023). Net income: ฿619.7m (down 29% from FY 2023). Profit margin: 16% (down from 22% in FY 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. お知らせ • Feb 26
United Paper Public Company Limited, Annual General Meeting, Apr 25, 2025 United Paper Public Company Limited, Annual General Meeting, Apr 25, 2025, at 10:00 SE Asia Standard Time. Location: rama gardens hotel bangkok, canna room, no.9/9, vibhavadi rangsit road, laksi, bangkok 10210 Thailand Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ฿0.17 (vs ฿0.43 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.17 (down from ฿0.43 in 3Q 2023). Revenue: ฿845.8m (down 12% from 3Q 2023). Net income: ฿109.3m (down 61% from 3Q 2023). Profit margin: 13% (down from 29% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Declared Dividend • Aug 11
First half dividend of ฿0.35 announced Shareholders will receive a dividend of ฿0.35. Ex-date: 22nd August 2024 Payment date: 6th September 2024 Dividend yield will be 7.8%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 18% 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 • Aug 10
Second quarter 2024 earnings released: EPS: ฿0.31 (vs ฿0.33 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.31 (down from ฿0.33 in 2Q 2023). Revenue: ฿1.15b (up 13% from 2Q 2023). Net income: ฿198.9m (down 8.0% from 2Q 2023). Profit margin: 17% (down from 21% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. お知らせ • Aug 10
United Paper Public Company Limited Announces Dividend for the Six Months Ended June 30, 2024, Payable on September 06, 2024 United Paper Public Company Limited announced dividend of THB 0.35 per share for the six months ended June 30, 2024. Derived from profit under non-BOI privilege (baht per share): THB 0.17, Derived from profit under BOI privilege (baht per share): THB 0.18, Ex-dividend date is August 22, 2024, Record date for the right to receive dividends is August 23, 2024 and payment date is September 06, 2024. お知らせ • Jun 05
United Paper Public Company Limited Announces Board Changes United Paper Public Company Limited informed that at The Board of Directors meeting No.03/2024, held on June 4, 2024, these resolution have been passed: Appointment of Mr. Prasong Hanpiyavatanasakul as a Director to replace the resigned Director, Mr.Boonnum Boonnumsup, and as a Director of Executive committee effective from June 4, 2024 onwards. His directorship term would end at the same time as the resigned director he replaced. Appointment of Mr. Pongchai Jarungjitpracharom as a Director, and Director of Executive committee to replace the resigned Director, Dr.Chin Chinsettawong, effective from June 4, 2024 onwards. His directorship term would end at the same time as the resigned director he replaced. After the appointments, the Board of Directors and the Board of Executive Directors will consist of: Board of Directors: Mr. Mongkol Mangkornkanok, Mr. Wachara Chinsettawong, Mr. Surachet Supsakorn, Mr. Kumjorn Chuenchoochit, Dr. Thakol Nunthirapakorn, Mr. Prasong Hanpiyavatanasakul and Mr. Pongchai Jarungjitpracharom. Board of Executive directors: Mr. Mongkol Mangkornkanok, Mr. Wachara Chinsettawong, Mr. Prasong Hanpiyavatanasakul and Mr. Pongchai Jarungjitpracharom. お知らせ • May 29
United Paper Public Company Limited Announces Resignation of Directors, with Effect from June 1, 2024 United Paper Public Company Limited announced that Dr. Chin Chinsettawong informed his propose to resign from being Director and Executive director of the company due to his health condition which will effect as from June 1, 2024. Mr. Boonnum Boonnumsup informed his propose to resign from being Director of the company due to his health condition which will effect as from June 1, 2024. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: ฿0.28 (vs ฿0.32 in 1Q 2023) First quarter 2024 results: EPS: ฿0.28 (down from ฿0.32 in 1Q 2023). Revenue: ฿976.6m (down 15% from 1Q 2023). Net income: ฿179.4m (down 15% from 1Q 2023). Profit margin: 18% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Mar 04
Upcoming dividend of ฿0.48 per share Eligible shareholders must have bought the stock before 11 March 2024. Payment date: 24 May 2024. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 6.9%. Within top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (3.0%). Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: ฿1.35 (vs ฿1.14 in FY 2022) Full year 2023 results: EPS: ฿1.35 (up from ฿1.14 in FY 2022). Revenue: ฿4.08b (down 18% from FY 2022). Net income: ฿876.3m (up 19% from FY 2022). Profit margin: 22% (up from 15% 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 13% per year whereas the company’s share price has fallen by 14% per year. New Risk • Dec 21
New major risk - Revenue and earnings growth Earnings have declined by 1.7% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risk Earnings have declined by 1.7% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: ฿0.43 (vs ฿0.30 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.43 (up from ฿0.30 in 3Q 2022). Revenue: ฿964.0m (down 14% from 3Q 2022). Net income: ฿279.0m (up 41% from 3Q 2022). Profit margin: 29% (up from 18% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Packaging industry in Thailand. 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 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 15
Upcoming dividend of ฿0.33 per share at 5.9% yield Eligible shareholders must have bought the stock before 22 August 2023. Payment date: 07 September 2023. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 5.9%. Lower than top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (2.7%). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: ฿0.33 (vs ฿0.42 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.33 (down from ฿0.42 in 2Q 2022). Revenue: ฿1.03b (down 24% from 2Q 2022). Net income: ฿216.1m (down 21% from 2Q 2022). Profit margin: 21% (in line with 2Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 8% per year. お知らせ • Jun 17
United Paper Public Company Limited Announces Resignation of Montree Mahapruekpong as Director and Executive Director United Paper Public Company Limited informed that as of July 1, 2023 Mr. Montree Mahapruekpong will resign from being Director and Executive director of the company due to his health condition. Major Estimate Revision • May 16
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿5.34b to ฿4.67b. EPS estimate fell from ฿1.65 to ฿1.37 per share. Net income forecast to grow 21% next year vs 21% growth forecast for Packaging industry in Thailand. Consensus price target down from ฿29.46 to ฿18.50. Share price fell 4.3% to ฿11.20 over the past week. Price Target Changed • May 15
Price target decreased by 16% to ฿18.50 Down from ฿22.10, the current price target is an average from 2 analysts. New target price is 62% above last closing price of ฿11.40. Stock is down 28% over the past year. The company is forecast to post earnings per share of ฿1.37 for next year compared to ฿1.14 last year. Upcoming Dividend • Mar 02
Upcoming dividend of ฿0.27 per share at 4.8% yield Eligible shareholders must have bought the stock before 09 March 2023. Payment date: 26 May 2023. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Thai dividend payers (5.7%). Higher than average of industry peers (2.1%). Reported Earnings • Feb 27
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ฿1.14 (down from ฿1.41 in FY 2021). Revenue: ฿4.96b (up 7.9% from FY 2021). Net income: ฿739.0m (down 19% from FY 2021). Profit margin: 15% (down from 20% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Price Target Changed • Jan 05
Price target decreased to ฿18.00 Down from ฿22.10, the current price target is an average from 2 analysts. New target price is 10% above last closing price of ฿16.30. Stock is down 7.9% over the past year. The company is forecast to post earnings per share of ฿1.46 for next year compared to ฿1.41 last year. Board Change • Nov 16
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. 7 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Thakol Nunthirapakorn was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. お知らせ • Nov 11
Dr. Chin Chinsettawong Intents to Step Down from United Paper Public Company Limited as Chairman and Chairman of the Executive Committee Affectively November 11, 2022 United Paper Public Company Limited at the Board of Directors meeting on November 10, 2022, Dr. Chin Chinsettawong informed the Board of Directors about his intention to step down from Chairman and Chairman of the Executive Committee affectively November 11, 2022. After thoroughly consideration, the Board of Directors acknowledged and appointed Mr. Mongkol Mankornkanok to serve as Chairman and Chairman of Executive Committee. Dr. Chin Chinsettawong will continue to work as a director and a member of the Executive Directors. Upcoming Dividend • Aug 19
Upcoming dividend of ฿0.43 per share Eligible shareholders must have bought the stock before 26 August 2022. Payment date: 13 September 2022. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (2.0%). Reported Earnings • Aug 17
Second quarter 2022 earnings released: EPS: ฿0.42 (vs ฿0.36 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.42 (up from ฿0.36 in 2Q 2021). Revenue: ฿1.36b (up 22% from 2Q 2021). Net income: ฿275.1m (up 17% from 2Q 2021). Profit margin: 20% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. お知らせ • Aug 16
United Paper Public Company Limited Announces Interim Dividend for the Six Months Ended June 30, 2022, Payable on September 13, 2022 United Paper Public Company Limited announced interim dividend of THB 0.43 per share for the six months ended June 30, 2022. Ex-dividend date is August 26, 2022, Record date for the right to receive dividends is August 29, 2022 and payment date is September 13, 2022. Reported Earnings • May 15
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: ฿0.42 (down from ฿0.45 in 1Q 2021). Revenue: ฿1.49b (up 34% from 1Q 2021). Net income: ฿274.8m (down 4.9% from 1Q 2021). Profit margin: 19% (down from 26% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 2.8%, compared to a 9.4% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
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. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Thakol Nunthirapakorn was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Mar 24
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ฿4.61b to ฿5.16b. EPS estimate fell from ฿1.59 to ฿1.46. Net income forecast to grow 3.6% next year vs 7.0% growth forecast for Packaging industry in Thailand. Consensus price target broadly unchanged at ฿20.77. Share price fell 3.0% to ฿16.30 over the past week. Upcoming Dividend • Mar 01
Upcoming dividend of ฿0.31 per share Eligible shareholders must have bought the stock before 08 March 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 4.3%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (2.2%). お知らせ • Feb 25
United Paper Public Company Limited, Annual General Meeting, Apr 26, 2022 United Paper Public Company Limited, Annual General Meeting, Apr 26, 2022, at 10:00 SE Asia Standard Time. Agenda: To consider and approve the minute of the meeting of AGM No. 1/2021 which was held on July 20, 2021;To consider Present the company's performances for the year 2021 by the Board of Directors;To consider and approve Annual Financial Reports of the year 2021;: To consider and approve the allocations of profit and dividend payment for the year 2021;: To consider the election of directors to replace those who will retire; To consider directors' remunerations of the year 2022;To consider the appointment of auditors and their remunerations of the year 2022;and discuss other matters. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ฿1.41 (down from ฿1.56 in FY 2020). Revenue: ฿4.60b (up 29% from FY 2020). Net income: ฿917.4m (down 9.3% from FY 2020). Profit margin: 20% (down from 28% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 4.3%. Over the next year, revenue is forecast to stay flat compared to a 11% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. お知らせ • Feb 24
United Paper Public Company Limited Approves to Propose Dividend, Payable on May 25, 2022 United Paper Public Company Limited at its Board of Directors' meeting on February 23, 2022 approved to propose the dividend THB 0.31 per share would be paid on May 25, 2022. However, the final decision to pay the dividend is still under uncertainty as it has to be approved by the shareholders at AGM. Record Date is March 9, 2022. Price Target Changed • Nov 24
Price target decreased to ฿22.07 Down from ฿24.67, the current price target is an average from 3 analysts. New target price is 35% above last closing price of ฿16.40. Stock is up 21% over the past year. The company is forecast to post earnings per share of ฿1.52 for next year compared to ฿1.56 last year. Upcoming Dividend • Nov 15
Upcoming dividend of ฿0.40 per share Eligible shareholders must have bought the stock before 22 November 2021. Payment date: 08 December 2021. Trailing yield: 4.7%. Lower than top quartile of Thai dividend payers (4.8%). Higher than average of industry peers (1.7%). Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS ฿0.33 (vs ฿0.37 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: ฿1.18b (up 25% from 3Q 2020). Net income: ฿216.6m (down 9.8% from 3Q 2020). Profit margin: 18% (down from 26% 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 11% per year whereas the company’s share price has increased by 14% per year. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ฿0.36 (vs ฿0.35 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: ฿1.11b (up 52% from 2Q 2020). Net income: ฿234.3m (up 2.6% from 2Q 2020). Profit margin: 21% (down from 31% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 16% per year. Director Overboarding • Aug 13
Director Mongkol Mungkornkanok has joined 3rd company board President & Director Mongkol Mungkornkanok has been appointed to the board of United Paper Public Company Limited (SET:UTP). Mungkornkanok now sits on a total of 3 company boards. With 3 board positions including the role of CEO at United Paper Public Company Limited (SET:UTP), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Reported Earnings • May 13
First quarter 2021 earnings released: EPS ฿0.44 (vs ฿0.47 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: ฿1.11b (up 18% from 1Q 2020). Net income: ฿289.0m (down 5.4% from 1Q 2020). Profit margin: 26% (down from 33% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 22% per year. Upcoming Dividend • Mar 01
Upcoming Dividend of ฿0.39 Per Share Will be paid on the 27th of May to those who are registered shareholders by the 8th of March. The trailing yield of 4.6% is below the top quartile of Thai dividend payers (5.9%), but it is higher than industry peers (1.9%). お知らせ • Feb 24
United Paper Public Company Limited, Annual General Meeting, Apr 27, 2021 United Paper Public Company Limited, Annual General Meeting, Apr 27, 2021, at 03:00 Coordinated Universal Time. Location: Rama Gardens Hotel Bangkok, Canna1 room, No.9/9 Vibhavadi Rangsit Road, Laksi Bangkok Thailand Agenda: To consider and approve the minute of the meeting of AGM No. 1/2020 which was held on July 14, 2019; to present the company's performances for the year 2020 by the board of directors; to consider and approve annual financial reports of the year 2020; to consider and approve the allocations of profit and dividend payment for the year 2020; to consider the election of directors to replace those who will retire; to consider directors' remunerations of the year 2021; to consider the appointment of auditors and their remunerations of the year 2021; and to consider other matter. Reported Earnings • Feb 24
Full year 2020 earnings released: EPS ฿1.56 (vs ฿1.33 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿3.57b (up 4.9% from FY 2019). Net income: ฿1.01b (up 17% from FY 2019). Profit margin: 28% (up from 25% in FY 2019). Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 22% per year. Analyst Estimate Surprise Post Earnings • Feb 24
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 2.1%, compared to a 21% growth forecast for the Packaging industry in Thailand. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improved over the past week After last week's 23% share price gain to ฿19.40, the stock is trading at a trailing P/E ratio of 12.8x, up from the previous P/E ratio of 10.4x. This compares to an average P/E of 12x in the Packaging industry in Thailand. Total returns to shareholders over the past three years are 131%. Is New 90 Day High Low • Jan 27
New 90-day high: ฿17.80 The company is up 31% from its price of ฿13.60 on 29 October 2020. The Thai market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿27.89 per share. Price Target Changed • Jan 27
Price target raised to ฿18.03 Up from ฿16.40, the current price target is an average from 3 analysts. The new target price is close to the current share price of ฿17.80. As of last close, the stock is up 85% over the past year. Is New 90 Day High Low • Jan 11
New 90-day high: ฿14.60 The company is up 2.0% from its price of ฿14.30 on 12 October 2020. The Thai market is up 21% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Packaging industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿27.89 per share. Is New 90 Day High Low • Dec 09
New 90-day low: ฿13.10 The company is down 10.0% from its price of ฿14.60 on 10 September 2020. The Thai market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Packaging industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿23.56 per share. Upcoming Dividend • Nov 18
Upcoming Dividend of ฿0.41 Per Share Will be paid on the 11th of December to those who are registered shareholders by the 25th of November. The trailing yield of 5.9% is below the top quartile of Thai dividend payers (6.7%), but it is higher than industry peers (4.2%). Analyst Estimate Surprise Post Earnings • Nov 13
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.1%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Over the next year, revenue is forecast to stay flat compared to a 9.6% growth forecast for the Packaging industry in Thailand. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS ฿0.37 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: ฿940.3m (up 13% from 3Q 2019). Net income: ฿240.1m (up 11% from 3Q 2019). Profit margin: 26% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. 
