Aankondiging • Mar 16
Stecon Group Public Company Limited (SET:STECON) announces an Equity Buyback for 150,000,000 shares, representing 9.87% for THB 900 million. Stecon Group Public Company Limited (SET:STECON) announces a share repurchase program. Under the program, the company will repurchase up to 150,000,000 shares, representing 9.87% of its issued share capital, for THB 900 million. The shares will be repurchased at a price not exceeding 115% of the average closing price for the 5 trading days preceding the share repurchase transaction date. The purpose of the program is to efficiently manage the Company's excess liquidity and maximize its benefits, and to enhance the return on equity (ROE) and increase the earnings per share (EPS). The program is valid till September 17, 2025. As of October 24, 2024, the company had 1,519,090,193 issued shares. Aankondiging • Mar 14
STECON Group Public Company Limited Proposes Non-Issuance of the Dividend Payment for the Year 2024 STECON Group Public Company Limited at its board of directors meeting held on March 14, 2025, proposed non-issuance of the dividend payment for the year 2024. Reported Earnings • Aug 15
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: ฿0.02 (down from ฿0.10 in 2Q 2023). Revenue: ฿8.68b (up 20% from 2Q 2023). Net income: ฿25.3m (down 84% from 2Q 2023). Profit margin: 0.3% (down from 2.1% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) missed analyst estimates by 89%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Major Estimate Revision • May 24
Consensus EPS estimates fall by 32% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ฿0.377 to ฿0.255 per share. Revenue forecast steady at ฿30.9b. Net income forecast to grow 25% next year vs 32% growth forecast for Construction industry in Thailand. Consensus price target broadly unchanged at ฿11.23. Share price rose 2.1% to ฿9.95 over the past week. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: ฿10.00 (vs ฿0.11 in 1Q 2023) First quarter 2024 results: EPS: ฿10.00. Revenue: ฿6.54b (up 1.1% from 1Q 2023). Net income: ฿11.9m (down 93% from 1Q 2023). Profit margin: 0.2% (down from 2.6% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Construction industry in Thailand. Aankondiging • Apr 27
Sino-Thai Engineering and Construction Public Company Limited Approves Board Appointments Sino-Thai Engineering and Construction Public Company Limited at its AGM held on April 26, 2024, approved the appointment of Mr. Pravesana Mulpramook as independent director, Mrs. Monrudee Gettuphan as independent director, Ms. Rapeepan Luangaramrut as independent director and appointment of Mr. Apivut Thongkam as director. Upcoming Dividend • Mar 21
Upcoming dividend of ฿0.15 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 May 2024. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Thai dividend payers (5.9%). Lower than average of industry peers (1.8%). Declared Dividend • Mar 17
Dividend of ฿0.15 announced Shareholders will receive a dividend of ฿0.15. Ex-date: 28th March 2024 Payment date: 24th May 2024 Dividend yield will be 1.4%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (60% 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 28% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Mar 16
Sino-Thai Engineering and Construction Public Company Limited, Annual General Meeting, Apr 26, 2024 Sino-Thai Engineering and Construction Public Company Limited, Annual General Meeting, Apr 26, 2024, at 14:00 SE Asia Standard Time. Location: company's conference room, No. 32/60 Sino-Thai Tower, 30th floor, Sukhumvit 21 Road (Soi Asoke), Kwaeng Klongtoey Nua, Khet Wattana, Bangkok Metropolis Thailand Agenda: To consider and approve the company's financial statement for the fiscal period ending December 31, 2023; to consider and approve the dividend payment for the year 2023; to consider and approve the appointment of new directors in place of those retiring by rotation; to consider and approve the remuneration of directors, audit committee members; and any new sub-committee that may be established additionally for the year 2024; and to consider other matters. Major Estimate Revision • Mar 09
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿31.7b to ฿30.9b. EPS estimate also fell from ฿0.45 per share to ฿0.388 per share. Net income forecast to grow 13% next year vs 13% growth forecast for Construction industry in Thailand. Consensus price target broadly unchanged at ฿11.18. Share price was steady at ฿10.20 over the past week. Major Estimate Revision • Mar 07
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿31.7b to ฿31.1b. EPS estimate also fell from ฿0.465 per share to ฿0.399 per share. Net income forecast to grow 16% next year vs 16% growth forecast for Construction industry in Thailand. Consensus price target down from ฿11.48 to ฿11.09. Share price was steady at ฿9.90 over the past week. Reported Earnings • Mar 02
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: ฿0.35 (down from ฿0.56 in FY 2022). Revenue: ฿29.8b (down 2.0% from FY 2022). Net income: ฿527.7m (down 39% from FY 2022). Profit margin: 1.8% (down from 2.8% in FY 2022). Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 6.7%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Construction 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 9% per year. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ฿9.90, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 14x in the Construction industry in Thailand. Total loss to shareholders of 8.5% over the past three years. Board Change • Jan 17
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. No experienced directors. 10 highly experienced directors. Senior Executive Vice President of Financial & Administration Division and Executive Director Jaikaew Tejapijaya was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 16
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: ฿0.08 (down from ฿0.091 in 3Q 2022). Revenue: ฿7.89b (up 5.8% from 3Q 2022). Net income: ฿129.5m (down 6.4% from 3Q 2022). Profit margin: 1.6% (down from 1.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) missed analyst estimates by 34%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Construction 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 9% per year. Major Estimate Revision • Nov 15
Consensus EPS estimates fall by 16%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from ฿27.6b to ฿29.3b. EPS estimate fell from ฿0.418 to ฿0.353 per share. Net income forecast to shrink 4.2% next year vs 26% growth forecast for Construction industry in Thailand . Consensus price target down from ฿12.93 to ฿12.17. Share price rose 2.3% to ฿8.75 over the past week. Major Estimate Revision • Aug 22
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿31.7b to ฿27.2b. EPS estimate fell from ฿0.603 to ฿0.457 per share. Net income forecast to grow 13% next year vs 40% growth forecast for Construction industry in Thailand. Consensus price target down from ฿14.31 to ฿13.68. Share price rose 13% to ฿11.90 over the past week. Reported Earnings • Aug 16
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: ฿0.10 (down from ฿0.11 in 2Q 2022). Revenue: ฿7.40b (up 9.1% from 2Q 2022). Net income: ฿153.6m (down 11% from 2Q 2022). Profit margin: 2.1% (down from 2.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) missed analyst estimates by 19%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Price Target Changed • Jul 31
Price target decreased by 8.6% to ฿14.20 Down from ฿15.54, the current price target is an average from 9 analysts. New target price is 30% above last closing price of ฿10.90. Stock is down 11% over the past year. The company is forecast to post earnings per share of ฿0.60 for next year compared to ฿0.56 last year. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ฿10.40, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 11x in the Construction industry in Asia. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿7.69 per share. Major Estimate Revision • May 22
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿34.3b to ฿31.6b. EPS estimate also fell from ฿0.694 per share to ฿0.608 per share. Net income forecast to grow 24% next year vs 46% growth forecast for Construction industry in Thailand. Consensus price target down from ฿15.54 to ฿14.64. Share price fell 12% to ฿9.25 over the past week. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ฿0.11 (vs ฿0.15 in 1Q 2022) First quarter 2023 results: EPS: ฿0.11 (down from ฿0.15 in 1Q 2022). Revenue: ฿6.46b (down 16% from 1Q 2022). Net income: ฿171.0m (down 26% from 1Q 2022). Profit margin: 2.6% (down from 3.0% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 14% per year. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿9.95, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 11x in the Construction industry in Asia. Total loss to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿4.43 per share. Upcoming Dividend • Mar 16
Upcoming dividend of ฿0.30 per share at 2.0% yield Eligible shareholders must have bought the stock before 23 March 2023. Payment date: 26 May 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Thai dividend payers (5.9%). In line with average of industry peers (1.9%). Reported Earnings • Nov 18
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: ฿0.09 (up from ฿0.089 in 3Q 2021). Revenue: ฿7.45b (up 22% from 3Q 2021). Net income: ฿138.3m (up 1.6% from 3Q 2021). Profit margin: 1.9% (down from 2.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 18%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 11 highly experienced directors. Independent Director Surapan Poomkaew was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Sep 06
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ฿32.0b to ฿30.4b. EPS estimate also fell from ฿0.63 per share to ฿0.56 per share. Net income forecast to grow 7.0% next year vs 28% growth forecast for Construction industry in Thailand. Consensus price target down from ฿15.32 to ฿14.85. Share price rose 3.3% to ฿12.60 over the past week. Price Target Changed • Aug 18
Price target decreased to ฿15.32 Down from ฿16.71, the current price target is an average from 10 analysts. New target price is 27% above last closing price of ฿12.10. Stock is down 1.6% over the past year. The company is forecast to post earnings per share of ฿0.63 for next year compared to ฿0.47 last year. Reported Earnings • Aug 17
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: ฿0.11 (up from ฿0.001 in 2Q 2021). Revenue: ฿6.78b (down 4.3% from 2Q 2021). Net income: ฿173.1m (up ฿171.7m from 2Q 2021). Profit margin: 2.6% (up from 0% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 17%, compared to a 17% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Aug 16
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from ฿0.75 to ฿0.57 per share. Revenue forecast steady at ฿34.8b. Net income forecast to grow 59% next year vs 50% growth forecast for Construction industry in Thailand. Consensus price target broadly unchanged at ฿16.55. Share price fell 2.4% to ฿12.00 over the past week. Reported Earnings • May 20
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: ฿0.15 (up from ฿0.13 in 1Q 2021). Revenue: ฿7.65b (up 1.0% from 1Q 2021). Net income: ฿231.7m (up 17% from 1Q 2021). Profit margin: 3.0% (up from 2.6% in 1Q 2021). Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) also surpassed analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 25%, compared to a 36% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Major Estimate Revision • May 18
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from ฿0.78 to ฿0.70 per share. Revenue forecast steady at ฿35.3b. Net income forecast to grow 49% next year vs 69% growth forecast for Construction industry in Thailand. Consensus price target up from ฿16.83 to ฿17.38. Share price was steady at ฿12.90 over the past week. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 11 highly experienced directors. Independent Director Surapan Poomkaew was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 17
Upcoming dividend of ฿0.25 per share Eligible shareholders must have bought the stock before 24 March 2022. Payment date: 27 May 2022. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Thai dividend payers (5.2%). Higher than average of industry peers (1.8%). Reported Earnings • Mar 02
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: ฿0.47 (down from ฿0.72 in FY 2020). Revenue: ฿27.9b (down 22% from FY 2020). Net income: ฿710.9m (down 35% from FY 2020). Profit margin: 2.5% (down from 3.0% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) exceeded analyst estimates by 26%. Over the next year, revenue is forecast to grow 27%, compared to a 21% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS ฿0.089 (vs ฿0.15 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿6.12b (down 29% from 3Q 2020). Net income: ฿136.1m (down 42% from 3Q 2020). Profit margin: 2.2% (down from 2.7% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Aug 17
Consensus revenue estimates fall to ฿30.3b The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from ฿36.9b to ฿30.3b. EPS estimate fell from ฿0.76 to ฿0.47 per share. Net income forecast to grow 8.5% next year vs 89% growth forecast for Construction industry in Thailand. Consensus price target broadly unchanged at ฿16.81. Share price fell 2.4% to ฿12.30 over the past week. Reported Earnings • May 18
First quarter 2021 earnings released: EPS ฿0.13 (vs ฿0.14 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and revenues, although profit margins were improved. First quarter 2021 results: Revenue: ฿7.58b (down 19% from 1Q 2020). Net income: ฿197.5m (down 5.7% from 1Q 2020). Profit margin: 2.6% (up from 2.2% in 1Q 2020). 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 15% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 18
Upcoming Dividend of ฿0.30 Per Share Will be paid on the 28th of May to those who are registered shareholders by the 25th of March. The trailing yield of 2.1% is below the top quartile of Thai dividend payers (5.2%), and is lower than industry peers (2.4%). Reported Earnings • Mar 02
Full year 2020 earnings released The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: ฿36.1b (up 9.5% from FY 2019). Net income: ฿1.09b (down 26% from FY 2019). Profit margin: 3.0% (down from 4.5% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Mar 02
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Over the next year, revenue is forecast to grow 5.2%, compared to a 13% growth forecast for the Construction industry in Thailand. Is New 90 Day High Low • Feb 17
New 90-day low: ฿11.50 The company is down 5.0% from its price of ฿12.10 on 19 November 2020. The Thai market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction 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 ฿111 per share. Is New 90 Day High Low • Nov 24
New 90-day high: ฿13.40 The company is up 2.0% from its price of ฿13.20 on 26 August 2020. The Thai market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Construction industry, which is also up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿122 per share. Analyst Estimate Surprise Post Earnings • Nov 17
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) exceeded analyst estimates by 20%. Over the next year, revenue is forecast to grow 2.8%, compared to a 7.4% growth forecast for the Construction industry in Thailand. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS ฿0.15 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿8.63b (down 4.5% from 3Q 2019). Net income: ฿234.5m (down 14% from 3Q 2019). Profit margin: 2.7% (down from 3.0% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 19
New 90-day low: ฿10.60 The company is down 32% from its price of ฿15.60 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 Construction industry, which is down 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿143 per share. Is New 90 Day High Low • Sep 18
New 90-day low: ฿11.80 The company is down 26% from its price of ฿15.90 on 19 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿135 per share.