Reported Earnings • Aug 12
Second quarter 2026 earnings released: EPS: ฿0.32 (vs ฿0.50 in 2Q 2025) Second quarter 2026 results: EPS: ฿0.32 (down from ฿0.50 in 2Q 2025). Revenue: ฿1.21b (down 9.8% from 2Q 2025). Net income: ฿153.7m (down 36% from 2Q 2025). Profit margin: 13% (down from 18% in 2Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 14
Upcoming dividend of ฿0.70 per share Eligible shareholders must have bought the stock before 20 April 2026. Payment date: 07 May 2026. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 10%. Within top quartile of Thai dividend payers (7.4%). Higher than average of industry peers (6.2%). Declared Dividend • Feb 25
Final dividend of ฿0.70 announced Shareholders will receive a dividend of ฿0.70. Ex-date: 20th April 2026 Payment date: 7th May 2026 Dividend yield will be 10.0%, which is higher than the industry average of 6.6%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but not covered by cash flows (174% cash payout ratio). The dividend has increased by an average of 7.2% 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. Aankondiging • Feb 24
M.C.S. Steel Public Company Limited Proposes Cash Dividend for Operating Period from 1 January 2025 to 31 December 2025, Payable on 7 May 2026 M.C.S. Steel Public Company Limited at its AGM to be held on April 08, 2026, proposed the total dividend payment of year 2025 at THB 0.70 per share the total of THB 333.90 million The dividend consists of THB 0.63 from the operating profit of the BOI-promoted segment and THB 0.07 from the operating profit of the non-BOI-promoted segment. The company has set the record date for shareholders entitled to receive the dividend on April 21, 2026, and the payment date on May 7, 2026. Ex-dividend date: 20 April 2026. Aankondiging • Feb 23
M.C.S. Steel Public Company Limited, Annual General Meeting, Apr 08, 2026 M.C.S. Steel Public Company Limited, Annual General Meeting, Apr 08, 2026, at 10:00 SE Asia Standard Time. Location: physical meeting, grand hall ,the athenee hotel, bangkok Thailand Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: ฿0.49 (vs ฿0.31 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.49 (up from ฿0.31 in 3Q 2024). Revenue: ฿1.32b (up 1.9% from 3Q 2024). Net income: ฿235.9m (up 62% from 3Q 2024). Profit margin: 18% (up from 11% in 3Q 2024). The increase in margin was primarily driven by lower expenses. 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. Declared Dividend • Aug 15
First half dividend of ฿0.25 announced Shareholders will receive a dividend of ฿0.25. Ex-date: 26th August 2025 Payment date: 10th September 2025 Dividend yield will be 8.7%, which is higher than the industry average of 6.6%. Sustainability & Growth Dividend is covered by earnings (25% earnings payout ratio) but not covered by cash flows (413% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 2.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ฿0.50 (vs ฿0.24 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.50 (up from ฿0.24 in 2Q 2024). Revenue: ฿1.34b (up 17% from 2Q 2024). Net income: ฿240.5m (up 106% from 2Q 2024). Profit margin: 18% (up from 10% 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 36% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • May 10
First quarter 2025 earnings released: EPS: ฿0.46 (vs ฿0.14 in 1Q 2024) First quarter 2025 results: EPS: ฿0.46 (up from ฿0.14 in 1Q 2024). Revenue: ฿1.41b (flat on 1Q 2024). Net income: ฿220.2m (up 218% from 1Q 2024). Profit margin: 16% (up from 4.9% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 10% per year. Aankondiging • May 10
M.C.S. Steel Public Company Limited Appoints Mr. Yoshiyasu Kagehiro as Deputy Managing Director Effective May 8, 2025 M.C.S. Steel Public Company Limited announced that during the Board of Directors meeting No.3/2025 held on May 8, 2025, Mr. Yoshiyasu Kagehiro was appointed as Deputy Managing Director, responsible for Japanese and Foreigner Coordination. This appointment will be effective as of May 8, 2025. The list of Deputy Managing Directors after the appointment includes four persons: Mr. Phairat Viwatborvornwong as Deputy Managing Director of Estimate and Planning, Mr. Pornchai Phisarnanukunkit as Deputy Managing Director of Factory & Production, Miss Mattawan Srisakda as Deputy Managing Director of Accounting and Financial, and Mr. Yoshiyasu Kagehiro as Deputy Managing Director of Japanese and Foreigner Coordinator. Aankondiging • Apr 11
M.C.S. Steel Public Company Limited Approves Dividend Payment for the Year 2024, Payable on May 7, 2025 M.C.S. Steel Public Company Limited at the AGM held on April 10, 2025, the shareholders approved the total dividend payment of the year 2024 at THB 0.70 per share, making the total dividend for the year 2024 equal to 52.85% of net profits, which is in accordance with the company's dividend policy. The company will set the date for determining the right to receive dividends (Record Date) on April 21, 2025, and will pay the dividends on May 7, 2025. Upcoming Dividend • Apr 11
Upcoming dividend of ฿0.50 per share Eligible shareholders must have bought the stock before 18 April 2025. Payment date: 07 May 2025. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 13%. Within top quartile of Thai dividend payers (8.1%). Higher than average of industry peers (7.6%). New Risk • Apr 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.46b (US$99.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 26% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿3.46b market cap, or US$99.3m). New Risk • Feb 22
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 26% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Aankondiging • Jan 16
M.C.S. Steel Public Company Limited Announces Board Changes M.C.S. Steel Public Company Limited informed that at the Board of Directors meeting No.1/2025 held on January 14, 2025, it was resolved to appoint Police General Damrongsak Kittiprapas as an independent director and the Chairman of the Nomination and Remuneration Committee replacing Ms. Penprapa Vongkowit, whose position is now vacant and another position as Vice Chairman. The term of office for the independent director and the Chairman of the Nomination and Remuneration Committee will be in accordance with the remaining term of Ms. Penprapa Vongkowit, who had resigned from the Board of Directors effective December 31, 2024. This appointment will be effective as of January 15, 2025. List of Company Directors after the Appointment: Dr.Naiyuan Chi, Chairman; Police General Damrongsak Kittiprapas, Vice Chairman and Independent Director and Chairman of Nomination and Remuneration Committee Ms. Wanna Pholkaew, Director; Mr.Phairat Viwatborvornwong, Director; Mr.Pornchai Phisarnanukunkit, Director; Gen.Titiwat Kamlang-Ek, Independent Director and Chairman of Audit Committee; Mr. Tinakorn Seedasomboon, Independent Director and Member of Audit Committee and Member of Nomination and Remuneration Committee; Mr. Supoj Kaewmanee, Independent Director and Member of Audit Committee And Member of Nomination and Remuneration Committee; Mr. Hideo Iwaki, Director. Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: ฿0.31 (vs ฿0.063 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.31 (up from ฿0.063 in 3Q 2023). Revenue: ฿1.29b (down 23% from 3Q 2023). Net income: ฿145.6m (up 381% from 3Q 2023). Profit margin: 11% (up from 1.8% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. New Risk • Nov 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.39b (US$98.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 22% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿3.39b market cap, or US$98.8m). Upcoming Dividend • Aug 16
Upcoming dividend of ฿0.20 per share Eligible shareholders must have bought the stock before 23 August 2024. Payment date: 10 September 2024. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Thai dividend payers (7.0%). Lower than average of industry peers (5.5%). Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ฿0.24 (vs ฿0.022 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.24 (up from ฿0.022 in 2Q 2023). Revenue: ฿1.14b (up 3.1% from 2Q 2023). Net income: ฿116.9m (up ฿106.6m from 2Q 2023). Profit margin: 10% (up from 0.9% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Aankondiging • Aug 10
M.C.S. Steel Public Company Limited Announces Dividend for Operating Period from 01-January-2024 to 30-June-2024, Payable on September 10, 2024 M.C.S. Steel Public Company Limited announced dividend Cash dividend payment (baht per share) THB 0.20 per share from 01-January-2024 to 30 June 2024. The record date for the right to receive dividends 26 August 2024, Ex-dividend date August 23, 2024 and Payment date September 10, 2024. Aankondiging • Apr 10
M.C.S. Steel Public Company Limited Approves Dividend for the Year 2023, Payable on May 2, 2024 M.C.S. Steel Public Company Limited at the AGM held on April 9, 2024, the shareholders approved the total dividend payment of the year 2023 at THB 0.32 per share derived from profit under BOI privilege: THB 0.32 per share which paid of 65.61% of Profit of last year and the Dividend of 2023 is according to the company's dividend policy. The shareholders are entitled to receive the dividend on the record date on March 15, 2024, and the dividend date will be on May 2, 2024. Upcoming Dividend • Mar 07
Upcoming dividend of ฿0.32 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 02 May 2024. Payout ratio is on the higher end at 93%, and the cash payout ratio is above 100%. Trailing yield: 4.8%. Lower than top quartile of Thai dividend payers (6.2%). In line with average of industry peers (5.3%). Declared Dividend • Mar 04
Dividend increased to ฿0.32 Dividend of ฿0.32 is 60% higher than last year. Ex-date: 14th March 2024 Payment date: 2nd May 2024 Dividend yield will be 4.8%, which is lower than the industry average of 6.6%. Sustainability & Growth Dividend is not covered by earnings (481% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 435% to bring the payout ratio under control. However, EPS has declined by 51% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: ฿0.06 (vs ฿0.14 loss in 3Q 2022) Third quarter 2023 results: EPS: ฿0.06 (up from ฿0.14 loss in 3Q 2022). Revenue: ฿1.67b (up 170% from 3Q 2022). Net income: ฿30.3m (up ฿98.1m from 3Q 2022). Profit margin: 1.8% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 59% 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. New Risk • Aug 17
New major risk - Revenue and earnings growth Earnings have declined by 2.2% 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 2.2% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿2.96b market cap, or US$83.3m). Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: ฿0.02 (vs ฿0.15 loss in 2Q 2022) Second quarter 2023 results: EPS: ฿0.02 (up from ฿0.15 loss in 2Q 2022). Revenue: ฿1.11b (up 66% from 2Q 2022). Net income: ฿10.3m (up ฿79.8m from 2Q 2022). Profit margin: 0.9% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Reported Earnings • May 18
First quarter 2023 earnings released: ฿0.03 loss per share (vs ฿0.55 profit in 1Q 2022) First quarter 2023 results: ฿0.03 loss per share (down from ฿0.55 profit in 1Q 2022). Revenue: ฿1.62b (flat on 1Q 2022). Net loss: ฿15.2m (down 106% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿7.30, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 16x in the Metals and Mining industry in Thailand. Total loss to shareholders of 17% over the past three years. Upcoming Dividend • Mar 10
Upcoming dividend of ฿0.20 per share at 2.1% yield Eligible shareholders must have bought the stock before 17 March 2023. Payment date: 08 May 2023. Payout ratio is on the higher end at 80% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Thai dividend payers (5.6%). Lower than average of industry peers (5.6%). Reported Earnings • Nov 19
Third quarter 2022 earnings released: ฿0.14 loss per share (vs ฿0.89 profit in 3Q 2021) Third quarter 2022 results: ฿0.14 loss per share (down from ฿0.89 profit in 3Q 2021). Revenue: ฿619.4m (down 69% from 3Q 2021). Net loss: ฿67.8m (down 116% from profit in 3Q 2021). 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 4% per year, which means it is significantly lagging earnings. 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. 4 experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Supoj Kaewmanee was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Oct 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be ฿11.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 32%. Aankondiging • Sep 07
M.C.S. Steel PCL Depositary Shares NVDR SHARES to Be Deleted from OTC Equity M.C.S. Steel Public Company Limited Depositary Shares NVDR SHARES Thailand (TH) will be deleted from OTC Equity effective from September 07, 2022, due to Inactive Security. Reported Earnings • Aug 16
Second quarter 2022 earnings released: ฿0.15 loss per share (vs ฿0.86 profit in 2Q 2021) Second quarter 2022 results: ฿0.15 loss per share (down from ฿0.86 profit in 2Q 2021). Revenue: ฿670.9m (down 65% from 2Q 2021). Net loss: ฿69.5m (down 117% from profit in 2Q 2021). 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 5% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 15
M.C.S. Steel Public Company Limited Announces Resignation of Naiyuan Chi as Chief Executive Officer, Effective August 31, 2022 M.C.S. Steel Public Company Limited announced resignation of Dr. Naiyuan Chi from Chief Executive Officer effective on August 31, 2022 onwards. And at present Dr.Naiyuan Chi is still as Chairman of Board Director. Since September 2022 after resignation of Dr.Naiyuan Chi from Chief Executive Officer, the company will eliminate position of Chief Executive Officer, Instead management by Managing director together with three other deputy managing directors as a new management approach. Reported Earnings • May 19
First quarter 2022 earnings released: EPS: ฿0.55 (vs ฿0.49 in 1Q 2021) First quarter 2022 results: EPS: ฿0.55 (up from ฿0.49 in 1Q 2021). Revenue: ฿1.63b (up 38% from 1Q 2021). Net income: ฿262.7m (up 13% from 1Q 2021). Profit margin: 16% (down from 20% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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. 4 experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Supoj Kaewmanee was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Apr 10
M.C.S. Steel Public Company Limited Approves the Appointment of Hideo Iwaki as New Director M.C.S. Steel Public Company Limited at the AGM held on April 07, 2022, approved the appointment of Mr. Hideo Iwaki as new director. Aankondiging • Apr 09
M.C.S. Steel Public Company Limited Approves Dividend Payment for Year 2021, Payable on May 5, 2022 M.C.S. Steel Public Company Limited at the AGM held on April 7,2022, approved the total dividend payment of year 2021 at THB 1.27 per share, which THB 0.40 per share was paid as interim dividend on September 15, 2021 and THB 0.37 per share was paid as interim dividend No. 2 on December 9, 2021 . Thus, the remaining THB 0.50 per share that derived from profit under BOI privilege: THB 0.40 per share and derived from profit under NON BOI privilege: THB 0.10 per share which paid of 50.38% of Profit of last year and the Dividend of 2021 is according to the company's dividend policy. The shareholders entitled to receive the dividend in the record date on March 16,2022 and the dividend date will be on May 5, 2022. Upcoming Dividend • Mar 08
Upcoming dividend of ฿0.50 per share Eligible shareholders must have bought the stock before 15 March 2022. Payment date: 05 May 2022. Payout ratio is a comfortable 43% and the cash payout ratio is 81%. Trailing yield: 8.8%. Within top quartile of Thai dividend payers (5.3%). Higher than average of industry peers (7.1%). Reported Earnings • Mar 03
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: ฿2.97 (up from ฿2.00 in FY 2020). Revenue: ฿6.94b (up 62% from FY 2020). Net income: ฿1.42b (up 48% from FY 2020). Profit margin: 20% (down from 22% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.6%. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Aankondiging • Mar 03
M.C.S. Steel Public Company Limited, Annual General Meeting, Apr 07, 2022 M.C.S. Steel Public Company Limited, Annual General Meeting, Apr 07, 2022, at 03:30 Coordinated Universal Time. Location: Grand Ball room , Grand Hyatt Erawan Bangkok Thailand Agenda: To consider and certify the minutes of the Annual General Meeting of shareholder of 2021 on April 7, 2021; to acknowledge the company operating results 2021; to consider and approve the consolidated financial statements of company and subsidiaries of 2021 period ended December 31, 2021; to approve the dividend payment and acknowledge the interim dividend of the company; to consider and approve the appointment of directors for replacement of those who retired;to consider and approve the directors' remuneration and sub-committee; to consider and appointment of the auditors and their fees; and to consider Other matters, if any. Aankondiging • Mar 01
M.C.S. Steel Public Company Limited Proposes Dividend Payment of Year 2021, Payable on May 5, 2022 M.C.S. Steel Public Company Limited proposed to approve the total dividend payment of year 2021 at THB 1.27 per share the total of THB 605.79 million that the interim dividend has paid at THB 0.77 per share (total of 367.28 million) and propose to pay the addition dividend payment at THB 0.50 per share (Derived from profit under BOI privilege: THB 0.40 per share and Derived from profit under Non-BOI privilege: THB 0.10 per share), total of THB 238.50 million and the dividend date will be on May 5,2022. Upcoming Dividend • Nov 18
Upcoming dividend of ฿0.37 per share Eligible shareholders must have bought the stock before 25 November 2021. Payment date: 09 December 2021. Trailing yield: 5.1%. Within top quartile of Thai dividend payers (4.9%). In line with average of industry peers (5.4%). Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS ฿0.89 (vs ฿0.61 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: ฿1.98b (up 46% from 3Q 2020). Net income: ฿422.2m (up 46% from 3Q 2020). Profit margin: 21% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 27
Upcoming dividend of ฿0.40 per share Eligible shareholders must have bought the stock before 03 September 2021. Payment date: 15 September 2021. Trailing yield: 6.6%. Within top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (5.2%). Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ฿0.86 (vs ฿0.44 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿1.92b (up 70% from 2Q 2020). Net income: ฿408.7m (up 81% from 2Q 2020). Profit margin: 21% (up from 20% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 25% per year. Reported Earnings • May 12
First quarter 2021 earnings released: EPS ฿0.49 (vs ฿0.48 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: ฿1.18b (up 14% from 1Q 2020). Net income: ฿233.6m (up 8.1% from 1Q 2020). Profit margin: 20% (down from 21% 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 18% per year and the company’s share price has also increased by 18% per year. Reported Earnings • Mar 02
Full year 2020 earnings released: EPS ฿2.00 (vs ฿1.28 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿4.28b (up 28% from FY 2019). Net income: ฿954.1m (up 57% from FY 2019). Profit margin: 22% (up from 18% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 11% per year. Is New 90 Day High Low • Jan 19
New 90-day high: ฿13.90 The company is up 9.0% from its price of ฿12.70 on 21 October 2020. The Thai market is up 25% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 38% over the same period. Reported Earnings • Nov 18
Third quarter 2020 earnings released: EPS ฿0.61 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: ฿1.36b (up 40% from 3Q 2019). Net income: ฿288.9m (up 44% from 3Q 2019). Profit margin: 21% (in line with 3Q 2019). 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 5% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 20
New 90-day low: ฿12.30 The company is down 10.0% from its price of ฿13.60 on 22 July 2020. The Thai market is down 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is down 7.0% over the same period. 
