Announcement • Mar 10
East Coast Furnitech Public Company Limited Appoints Attaphol Tanapol as Director East Coast Furnitech Public Company Limited at its EGM held on January 9, 2026 approved the increase in the number of the Company's directors from 9 to 10 directors by appointing 1 additional director, namely Mr. Attaphol Tanapol, to assume the position of director of the Company who has knowledge, ability, experience and expertise that is beneficial to the Company's management, as well as being fully qualified and not prohibited by relevant laws in accordance with the Securities and Exchange Act, Rules of the Securities and Exchange Commission, The Stock Exchange of Thailand (SET) and the relevant authorizations. Board Change • Dec 19
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. 1 experienced director. 7 highly experienced directors. Independent Director Paiboon Aroonprasobsuk was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 16
Second quarter 2025 earnings released: ฿5.80 loss per share (vs ฿0.76 loss in 2Q 2024) Second quarter 2025 results: ฿5.80 loss per share (further deteriorated from ฿0.76 loss in 2Q 2024). Revenue: ฿61.7m (down 83% from 2Q 2024). Net loss: ฿288.4m (loss widened ฿252.0m from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 23 percentage points per year, which is a significant difference in performance. New Risk • Jul 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 20x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (8.5% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (45% average weekly change). Earnings have declined by 70% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 20x increase in shares outstanding). Minor Risk Market cap is less than US$100m (฿566.7m market cap, or US$17.4m). Announcement • Jul 09
East Coast Furnitech Public Company Limited Announces Management Changes, Effective July 7, 2025 East Coast Furnitech Public Company Limited has acknowledged the resignation of Mr. Poramedcharapol Chinnuvat from his position as the Assistant Managing Director (Branch 2), effective July 7, 2025, due to other important engagements. Additionally, the Company has considered appointing Mr. Wasan Chomjit as the Assistant Managing Director (Branch 2), replacing the previous individual who resigned. This appointment will be effective from July 7, 2025, onwards. Reported Earnings • May 17
First quarter 2025 earnings released: ฿0.075 loss per share (vs ฿0.018 loss in 1Q 2024) First quarter 2025 results: ฿0.075 loss per share (further deteriorated from ฿0.018 loss in 1Q 2024). Revenue: ฿108.1m (down 71% from 1Q 2024). Net loss: ฿72.3m (loss widened 329% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 01
Full year 2024 earnings released: ฿0.24 loss per share (vs ฿0.15 loss in FY 2023) Full year 2024 results: ฿0.24 loss per share (further deteriorated from ฿0.15 loss in FY 2023). Revenue: ฿1.36b (down 1.1% from FY 2023). Net loss: ฿231.4m (loss widened 60% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Announcement • Mar 01
East Coast Furnitech Public Company Limited Approves the Appointment of Wathanawit Suksawad to the Position of Assistant Managing Director/Executive East Coast Furnitech Public Company Limited approved the appointment of Mr. Wathanawit Suksawad to the position of Assistant Managing Director/Executive of the Company to replace the person who has resigned,
effective from February 27, 2025, at its Board of Directors' Meeting No. 2/2025 held on February 27, 2025. Announcement • Feb 28
East Coast Furnitech Public Company Limited, Annual General Meeting, Apr 24, 2025 East Coast Furnitech Public Company Limited, Annual General Meeting, Apr 24, 2025, at 10:00 SE Asia Standard Time. New Risk • Feb 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 9.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.0% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (9.6% average weekly change). Earnings have declined by 63% per year over the past 5 years. Market cap is less than US$10m (฿201.5m market cap, or US$5.91m). Minor Risk Paying a dividend despite being loss-making. Announcement • Jan 25
East Coast Furnitech Public Company Limited Announces Chief Financial Officer Changes East Coast Furnitech Public Company Limited announced that the Company has acknowledged the resignation of Ms. Pachanan Singhphu from her position as Acting Chief Financial Officer (CFO), effective January 24, 2025, due to health reasons. This resignation does not affect the Company's operations in any way. Additionally, the Company has appointed Ms. Chanokpornpun Kraisakree as the Acting Chief Financial Officer/Director of Accounting and Finance. Announcement • Jan 24
East Coast Furnitech Public Company Limited Announces Board Changes East Coast Furnitech Public Company Limited announced that the Company has acknowledged the resignation of Ms. Pachanan Singhphu from her position as Assistant Managing Director, effective January 24, 2025, due to health reasons. This resignation does not affect the Company's operations in any way. Furthermore, the Company has designated Ms. Rungchat Namwijit as the new Chief Accountant, effective January 24, 2025. The Company is in the process of recruiting a new Assistant Managing Director to replace Ms. Pachanan Singhphu. The proposed appointment will be presented at the next meeting of the Company's Board of Directors. New Risk • Jan 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿345.4m (US$9.99m) This is considered a major 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 Debt is not well covered by operating cash flow (6.0% operating cash flow to total debt). Earnings have declined by 63% per year over the past 5 years. Market cap is less than US$10m (฿345.4m market cap, or US$9.99m). Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (7.7% average weekly change). Reported Earnings • Aug 15
Second quarter 2024 earnings released: ฿0.038 loss per share (vs ฿0.13 loss in 2Q 2023) Second quarter 2024 results: ฿0.038 loss per share (improved from ฿0.13 loss in 2Q 2023). Revenue: ฿345.5m (up 9.2% from 2Q 2023). Net loss: ฿36.3m (loss narrowed 70% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. New Risk • Jul 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.8% operating cash flow to total debt). Earnings have declined by 53% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (฿460.6m market cap, or US$12.5m). New Risk • Jun 21
New minor risk - Dividend sustainability The dividend is not well covered by earnings. The company is paying a dividend despite being loss-making. Dividend yield: 2.4% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.8% operating cash flow to total debt). Earnings have declined by 53% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (฿441.4m market cap, or US$12.0m). Announcement • Jun 06
East Coast Furnitech Public Company Limited announced that it expects to receive THB 119.938206 million in funding East Coast Furnitech Public Company Limited announced a private placement of 479,752,824 common shares at a price of THB 0.25 per share for the gross proceeds of THB 119,938,206 on June 4, 2024. The transaction has been approved by the shareholders of the company. Reported Earnings • May 17
First quarter 2024 earnings released: ฿0.018 loss per share (vs ฿0.01 profit in 1Q 2023) First quarter 2024 results: ฿0.018 loss per share (down from ฿0.01 profit in 1Q 2023). Revenue: ฿384.3m (up 22% from 1Q 2023). Net loss: ฿16.9m (down 278% from profit in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 01
Full year 2023 earnings released: ฿0.15 loss per share (vs ฿0.039 profit in FY 2022) Full year 2023 results: ฿0.15 loss per share (down from ฿0.039 profit in FY 2022). Revenue: ฿1.42b (down 1.2% from FY 2022). Net loss: ฿144.5m (down 486% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: ฿0.028 (vs ฿0.01 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.028 (up from ฿0.01 in 3Q 2022). Revenue: ฿391.0m (up 12% from 3Q 2022). Net income: ฿26.9m (up 178% from 3Q 2022). Profit margin: 6.9% (up from 2.8% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 17
Second quarter 2023 earnings released: ฿0.13 loss per share (vs ฿0.01 profit in 2Q 2022) Second quarter 2023 results: ฿0.13 loss per share (down from ฿0.01 profit in 2Q 2022). Revenue: ฿327.0m (down 5.2% from 2Q 2022). Net loss: ฿121.9m (down ฿131.8m from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ฿1.28, the stock trades at a trailing P/E ratio of 32.8x. Average trailing P/E is 26x in the Consumer Durables industry in Thailand. Total returns to shareholders of 36% over the past three years. Upcoming Dividend • Mar 07
Upcoming dividend of ฿0.011 per share at 0.7% yield Eligible shareholders must have bought the stock before 13 March 2023. Payment date: 19 May 2023. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of Thai dividend payers (5.7%). Lower than average of industry peers (2.8%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ฿0.01 (vs ฿0.006 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.01 (up from ฿0.006 in 3Q 2021). Revenue: ฿351.7m (up 5.0% from 3Q 2021). Net income: ฿9.67m (up 77% from 3Q 2021). Profit margin: 2.7% (up from 1.6% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% 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. Board Change • Nov 16
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. 7 highly experienced directors. Independent Director Paiboon Aroonprasobsuk was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: ฿0.01 (vs ฿0.016 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.01 (down from ฿0.016 in 2Q 2021). Revenue: ฿351.6m (down 11% from 2Q 2021). Net income: ฿9.83m (down 38% from 2Q 2021). Profit margin: 2.8% (down from 4.0% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 10% per year. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: ฿0.013 (vs ฿0.015 in 1Q 2021) First quarter 2022 results: EPS: ฿0.013 (down from ฿0.015 in 1Q 2021). Revenue: ฿420.0m (up 2.9% from 1Q 2021). Net income: ฿12.3m (down 14% from 1Q 2021). Profit margin: 2.9% (down from 3.5% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 10% per year. Board Change • Apr 27
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. 7 highly experienced directors. Independent Director Paiboon Aroonprasobsuk was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 04
Upcoming dividend of ฿0.016 per share Eligible shareholders must have bought the stock before 11 March 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Thai dividend payers (5.2%). Lower than average of industry peers (4.8%). Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.053 (up from ฿0.043 in FY 2020). Revenue: ฿1.59b (up 14% from FY 2020). Net income: ฿50.9m (up 24% from FY 2020). Profit margin: 3.2% (up from 2.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improved over the past week After last week's 39% share price gain to ฿2.46, the stock trades at a trailing P/E ratio of 59.8x. Average trailing P/E is 37x in the Consumer Durables industry in Thailand. Total loss to shareholders of 1.9% over the past three years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS ฿0.006 (vs ฿0.023 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿338.7m (down 16% from 3Q 2020). Net income: ฿5.45m (down 75% from 3Q 2020). Profit margin: 1.6% (down from 5.5% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ฿0.016 (vs ฿0.002 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿400.2m (up 38% from 2Q 2020). Net income: ฿15.4m (up ฿17.2m from 2Q 2020). Profit margin: 3.8% (up from net loss in 2Q 2020). 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 42% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 19
First quarter 2021 earnings released: EPS ฿0.015 (vs ฿0.018 in 1Q 2020) The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: ฿411.0m (up 41% from 1Q 2020). Net income: ฿14.3m (down 16% from 1Q 2020). Profit margin: 3.5% (down from 5.9% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improved over the past week After last week's 15% share price gain to ฿2.10, the stock trades at a trailing P/E ratio of 49x. Average trailing P/E is 17x in the Consumer Durables industry in Asia. Total loss to shareholders of 68% over the past three years. Upcoming Dividend • Apr 24
Upcoming dividend of ฿0.013 per share Eligible shareholders must have bought the stock before 29 April 2021. Payment date: 21 May 2021. Trailing yield: 0.7%. Lower than top quartile of Thai dividend payers (4.9%). Lower than average of industry peers (3.9%). Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 15% share price gain to ฿1.89, the stock trades at a trailing P/E ratio of 44.1x. Average trailing P/E is 18x in the Consumer Durables industry in Asia. Total loss to shareholders of 71% over the past three years. Reported Earnings • Mar 03
Full year 2020 earnings released: EPS ฿0.043 (vs ฿0.042 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: ฿1.42b (up 9.6% from FY 2019). Net income: ฿41.2m (up 2.2% from FY 2019). Profit margin: 2.9% (down from 3.1% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year whereas the company’s share price has fallen by 38% per year. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improved over the past week After last week's 16% share price gain to ฿1.73, the stock is trading at a trailing P/E ratio of 48.5x, up from the previous P/E ratio of 41.8x. This compares to an average P/E of 25x in the Consumer Durables industry in Thailand. Total return to shareholders over the past three years is a loss of 76%. Is New 90 Day High Low • Feb 18
New 90-day high: ฿1.58 The company is up 18% from its price of ฿1.34 on 20 November 2020. The Thai market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 15
New 90-day high: ฿1.53 The company is up 20% from its price of ฿1.27 on 16 September 2020. The Thai market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 15% over the same period. Reported Earnings • Nov 18
Third quarter 2020 earnings released: EPS ฿0.023 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿404.6m (up 19% from 3Q 2019). Net income: ฿21.9m (up 193% from 3Q 2019). Profit margin: 5.4% (up from 2.2% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 41% per year, which means it is performing significantly worse than earnings.