New Risk • Mar 09
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ฿56m (US$1.8m) This is considered a minor risk. Companies with a small amount of revenue 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 Share price has been highly volatile over the past 3 months (51% average weekly change). Shareholders have been substantially diluted in the past year (97% increase in shares outstanding). Minor Risks Large one-off items impacting financial results. Revenue is less than US$5m (฿56m revenue, or US$1.8m). Market cap is less than US$100m (฿437.9m market cap, or US$13.8m). Tillkännagivande • Feb 26
Triton Holding Public Company Limited, Annual General Meeting, Apr 28, 2026 Triton Holding Public Company Limited, Annual General Meeting, Apr 28, 2026, at 14:00 SE Asia Standard Time. Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: ฿0 (vs ฿0.011 loss in 3Q 2024) Third quarter 2025 results: EPS: ฿0 (improved from ฿0.011 loss in 3Q 2024). Revenue: ฿324.7m (up 257% from 3Q 2024). Net income: ฿4.41m (up ฿127.6m from 3Q 2024). Profit margin: 1.4% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 47% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: ฿0.003 (vs ฿0.036 loss in 2Q 2024) Second quarter 2025 results: EPS: ฿0.003 (up from ฿0.036 loss in 2Q 2024). Revenue: ฿76.0m (down 13% from 2Q 2024). Net income: ฿58.0m (up ฿456.4m from 2Q 2024). Profit margin: 76% (up from net loss in 2Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 17
First quarter 2025 earnings released: ฿0.002 loss per share (vs ฿0.003 loss in 1Q 2024) First quarter 2025 results: ฿0.002 loss per share (improved from ฿0.003 loss in 1Q 2024). Revenue: ฿224.1m (up 88% from 1Q 2024). Net loss: ฿20.5m (loss narrowed 27% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 37% per year and the company’s share price has also fallen by 37% per year. New Risk • Apr 12
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 97% 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 Less than 1 year of cash runway based on free cash flow trend (-฿66m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 53% per year over the past 5 years. Shareholders have been substantially diluted in the past year (97% increase in shares outstanding). Minor Risk Market cap is less than US$100m (฿1.97b market cap, or US$58.9m). Reported Earnings • Mar 01
Full year 2024 earnings released: ฿0.053 loss per share (vs ฿0.027 loss in FY 2023) Full year 2024 results: ฿0.053 loss per share (further deteriorated from ฿0.027 loss in FY 2023). Revenue: ฿533.1m (down 31% from FY 2023). Net loss: ฿591.7m (loss widened 99% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 26% per year whereas the company’s share price has fallen by 25% per year. Tillkännagivande • Feb 28
Triton Holding Public Company Limited, Annual General Meeting, Apr 24, 2025 Triton Holding Public Company Limited, Annual General Meeting, Apr 24, 2025, at 14:00 SE Asia Standard Time. Location: e-shareholding meeting, Thailand Tillkännagivande • Feb 25
SET's Board of Governors and the Securities and Exchange Commission Order Triton Holding Public Company Limited to Clarify Business Transfer And Project Development Plans As Triton Holding Public Company Limited (TRITN)'s board of directors has approved the entire business transfer from Baan Rai Taechaubol Holding Co. Ltd. ("Baan Rai Holding") and has a plan to develop the Haven project on the land acquired through the mentioned business transfer, with the total investment not exceeding THB 2,290 million and TRITN will pay in form of the newly issued shares to the shareholders of Baan Rai Holding. The SET's Board of Governors and the Securities and Exchange Commission (SEC) have ordered TRITN and the independent financial advisor (IFA) to clarify additional information. Although the transaction size when calculated according to the acquisition of assets' regulation is 99.73%, which does not reach or exceed 100% that will be subject to backdoor listing, in order to protect the benefits of the investors, by virtue of Section 172 Clause 1 of the Securities and Exchange Act B.E. 2535 (SEC Act), the SET's Board of Governors orders TRITN to proceed the following actions and disclose such information through SET's disclosure system. Establish control measures and procedures to be implemented at both the Board of Directors and the Audit Committee levels for monitoring the investment value which will be utilized in the development of the Haven project, including future capital increase plans, to ensure the compliance with the company's previous clarifications and/or disclosures. The said information must be disclosed by February 28, 2025. Report on the progress of Haven project, in both construction and the utilization of investment capital for project development, including the capital increase, by comparing with the information previously disclosed by the company to the SET. Such report must be submitted on a quarterly basis or upon the occurrence of any significant events that may impact project development. If there are any changes from previously disclosed information, the company has to provide explanations for such changes. In addition, the project progress report must be approved by both the Board of Directors and the Audit Committee and must be submitted together with the submission of quarterly and annual financial statements (depending on circumstances) until the Haven project's construction is completed and operations commence. However, if TRITN violates or fails to comply with the aforementioned orders, the SET's Board of Governors may consider taking actions against the company according to related regulations. Reported Earnings • Nov 20
Third quarter 2024 earnings released: ฿0.011 loss per share (vs ฿0.007 loss in 3Q 2023) Third quarter 2024 results: ฿0.011 loss per share (further deteriorated from ฿0.007 loss in 3Q 2023). Revenue: ฿100.2m (down 48% from 3Q 2023). Net loss: ฿123.2m (loss widened 51% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 25% per year whereas the company’s share price has fallen by 23% per year. Tillkännagivande • Aug 16
Triton Holding Public Company Limited Announces Chief Financial Officer Changes Triton Holding Public Company Limited announced resignation of Miss Wira Ganthanawat as Acting Chief Financial Officer, effective August 14, 2024; and appointed Miss Wira Ganthanawat as Chief Financial Office, effective August 14, 2024. Reported Earnings • Aug 15
Second quarter 2024 earnings released: ฿0.034 loss per share (vs ฿0.005 loss in 2Q 2023) Second quarter 2024 results: ฿0.034 loss per share (further deteriorated from ฿0.005 loss in 2Q 2023). Revenue: ฿114.1m (down 33% from 2Q 2023). Net loss: ฿378.4m (loss widened ฿321.2m from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 24% per year whereas the company’s share price has fallen by 22% per year. Tillkännagivande • Jul 01
Triton Holding Public Company Limited Announces Resignation of Worapong Woottipruk as Director, and Executive Director Triton Holding Public Company Limited announced that Mr. Worapong Woottipruk, the Company's Director, and Executive Director has resigned from their, effective June 7, 2024. However, the company will continue to recruit new directors and executive directors instead of vacant positions. Tillkännagivande • Jun 29
Triton Holding Public Company Limited Announces Chief Financial Officer Changes Triton Holding Public Company Limited announced termination of Mr. Worapong Woottipruk as Chief Financial Officer, effective June 26, 2024 and appointment of Miss Wira Ganthanawat as Acting Chief Financial Officer, effective June 27, 2024. The person assuring overall responsibility in accounting and finance (CFO). Reported Earnings • May 17
First quarter 2024 earnings released: ฿0.002 loss per share (vs ฿0.003 loss in 1Q 2023) First quarter 2024 results: ฿0.002 loss per share (improved from ฿0.003 loss in 1Q 2023). Revenue: ฿177.4m (down 14% from 1Q 2023). Net loss: ฿28.1m (loss narrowed 26% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 25% per year. Reported Earnings • Mar 03
Full year 2023 earnings released: ฿0.027 loss per share (vs ฿0.007 loss in FY 2022) Full year 2023 results: ฿0.027 loss per share (further deteriorated from ฿0.007 loss in FY 2022). Revenue: ฿786.8m (up 13% from FY 2022). Net loss: ฿297.7m (loss widened 283% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Tillkännagivande • Mar 02
Triton Holding Public Company Limited, Annual General Meeting, Apr 24, 2024 Triton Holding Public Company Limited, Annual General Meeting, Apr 24, 2024, at 14:00 SE Asia Standard Time. Agenda: To consider and approve the Minutes of the Annual General Meeting of Shareholders of the year 2023 which be held on April 27, 2023; to acknowledge the Company's operating result report for the Year 2023 and Annual Report; to consider and approve of the financial statements for the year ended December 31, 2023 and the report of auditor; to consider an approve the dividend omission of the year 2023; and to discuss other matters. Reported Earnings • Nov 17
Third quarter 2023 earnings released: ฿0.007 loss per share (vs ฿0.003 loss in 3Q 2022) Third quarter 2023 results: ฿0.007 loss per share (further deteriorated from ฿0.003 loss in 3Q 2022). Revenue: ฿197.2m (down 4.6% from 3Q 2022). Net loss: ฿81.7m (loss widened 189% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Tillkännagivande • Oct 27
Triton Holding Public Company Limited Announces Company Secretary Changes The Board of Directors of Triton at its meeting held on October 26, 2023, has resolution to appoint Mr. Tharakorn Junkerd to be the Company Secretary in replacement of Miss Pitsinee Wongpramote, Company Secretary who resigned from the position. This appointment shall be effective on October 26, 2023 onwards. Reported Earnings • Aug 17
Second quarter 2023 earnings released: ฿0.005 loss per share (vs ฿0.001 profit in 2Q 2022) Second quarter 2023 results: ฿0.005 loss per share (down from ฿0.001 profit in 2Q 2022). Revenue: ฿175.3m (down 5.1% from 2Q 2022). Net loss: ฿57.2m (down ฿64.5m from profit in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. Tillkännagivande • Aug 03
Triton Holding Public Company Limited Announces Resignation of Ms. Pitsinee Wongpramote as Company Secretary Triton Holding Public Company Limited informed that Ms. Pitsinee Wongpramote, Company Secretary, resigned from the position effective date on July 31, 2023 onwards. Reported Earnings • May 17
First quarter 2023 earnings released: ฿0.003 loss per share (vs ฿0.002 profit in 1Q 2022) First quarter 2023 results: ฿0.003 loss per share (down from ฿0.002 profit in 1Q 2022). Revenue: ฿209.0m (up 62% from 1Q 2022). Net loss: ฿37.8m (down 265% from profit in 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Board Change • May 02
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. 8 experienced directors. 1 highly experienced director. CFO, Member of Executive Board & Executive Director Worapong Woottipruk was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 06
Full year 2022 earnings released: ฿0.007 loss per share (vs ฿0.038 loss in FY 2021) Full year 2022 results: ฿0.007 loss per share (improved from ฿0.038 loss in FY 2021). Revenue: ฿829.1m (up 35% from FY 2021). Net loss: ฿77.6m (loss narrowed 81% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 20
Third quarter 2022 earnings released: ฿0.002 loss per share (vs ฿0.006 loss in 3Q 2021) Third quarter 2022 results: ฿0.002 loss per share (improved from ฿0.006 loss in 3Q 2021). Revenue: ฿237.1m (up 125% from 3Q 2021). Net loss: ฿28.3m (loss narrowed 54% from 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 17
Second quarter 2022 earnings released: EPS: ฿0.001 (vs ฿0.001 loss in 2Q 2021) Second quarter 2022 results: EPS: ฿0.001 (up from ฿0.001 loss in 2Q 2021). Revenue: ฿233.7m (down 12% from 2Q 2021). Net income: ฿7.32m (up ฿19.1m from 2Q 2021). Profit margin: 3.1% (up from net loss in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Reported Earnings • May 19
First quarter 2022 earnings released: EPS: ฿0.002 (vs ฿0.004 loss in 1Q 2021) First quarter 2022 results: EPS: ฿0.002 (up from ฿0.004 loss in 1Q 2021). Revenue: ฿181.8m (down 2.8% from 1Q 2021). Net income: ฿22.8m (up ฿56.7m from 1Q 2021). Profit margin: 13% (up from net loss in 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 03
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: ฿0.038 loss per share (down from ฿0.004 profit in FY 2020). Revenue: ฿670.8m (down 52% from FY 2020). Net loss: ฿400.7m (down ฿436.8m from profit in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 15
Third quarter 2021 earnings released: ฿0.006 loss per share (vs ฿0.004 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ฿120.2m (down 76% from 3Q 2020). Net loss: ฿61.8m (down 254% from profit in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 15
Third quarter 2021 earnings released: ฿0.006 loss per share (vs ฿0.004 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ฿120.2m (down 76% from 3Q 2020). Net loss: ฿61.8m (down 254% from profit in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 18
Second quarter 2021 earnings released: ฿0.001 loss per share (vs ฿0.001 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: ฿290.5m (down 6.5% from 2Q 2020). Net loss: ฿11.8m (down 193% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 44% 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. Executive Departure • Jun 08
Acting Chief Executive Officer Suppa-chak Trairatanobhas has left the company On the 1st of June, Suppa-chak Trairatanobhas was replaced as CEO by Louise Taechaubol after less than a year in the role. Suppa-chak still personally held 1.16b shares (฿371m worth) as of March 2021. This is 12% of the company. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Under Suppa-chak's leadership, the company delivered a total shareholder return of 14%. Reported Earnings • May 17
First quarter 2021 earnings released: ฿0.003 loss per share (vs ฿0.001 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: ฿189.9m (down 58% from 1Q 2020). Net loss: ฿33.8m (down ฿41.7m from profit in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 4% per year. Executive Departure • Mar 05
CEO & Director Chirdsak Kukiattinun has left the company On the 28th of February, Chirdsak Kukiattinun's tenure as CEO & Director of the company ended after 2.2 years in the role. We don't have any record of a personal shareholding under Chirdsak's name. A total of 3 executives have left over the last 12 months. Under Chirdsak's leadership, the company delivered a total shareholder return of -18%. Reported Earnings • Mar 02
Full year 2020 earnings released: EPS ฿0.004 (vs ฿0.004 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: ฿1.41b (up 18% from FY 2019). Net income: ฿36.1m (up 12% from FY 2019). Profit margin: 2.6% (down from 2.7% 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 41% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 18
New 90-day low: ฿0.31 The company is down 16% from its price of ฿0.37 on 20 November 2020. The Thai market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is flat over the same period. Is New 90 Day High Low • Jan 26
New 90-day low: ฿0.34 The company is down 6.0% from its price of ฿0.36 on 28 October 2020. The Thai market is up 25% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 17% over the same period. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS ฿0.004 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿495.6m (up 59% from 3Q 2019). Net income: ฿40.1m (up ฿37.2m from 3Q 2019). Profit margin: 8.1% (up from 0.9% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.