New Risk • Jul 08
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 11% 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 Interest payments are not well covered by earnings (1.3x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 38% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿720.0m market cap, or US$21.5m). Reported Earnings • May 19
First quarter 2026 earnings released: EPS: ฿0.003 (vs ฿0.003 in 1Q 2025) First quarter 2026 results: EPS: ฿0.003 (in line with 1Q 2025). Revenue: ฿57.0m (down 6.8% from 1Q 2025). Net income: ฿5.21m (up 29% from 1Q 2025). Profit margin: 9.1% (up from 6.6% in 1Q 2025). The increase in margin was driven by lower expenses. 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 32% per year, which means it has not declined as severely as earnings. Tillkännagivande • Apr 22
AIRA Factoring Public Company Limited Appoints Kulchai Chungsathaporn as Non-Executive Director AIRA Factoring Public Company Limited at its AGM held on April 21, 2026 approved the appointment of Mr. Kulchai Chungsathaporn as a director of the Company (Non-Executive Director). Reported Earnings • Feb 24
Full year 2025 earnings released: EPS: ฿0.009 (vs ฿0.01 in FY 2024) Full year 2025 results: EPS: ฿0.009 (down from ฿0.01 in FY 2024). Revenue: ฿249.1m (down 2.4% from FY 2024). Net income: ฿14.8m (down 11% from FY 2024). Profit margin: 6.0% (down from 6.6% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Tillkännagivande • Feb 20
AIRA Factoring Public Company Limited, Annual General Meeting, Apr 21, 2026 AIRA Factoring Public Company Limited, Annual General Meeting, Apr 21, 2026, at 10:00 SE Asia Standard Time. New Risk • Jan 24
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 8.3% 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 Interest payments are not well covered by earnings (1.1x net interest cover). Share price has been highly volatile over the past 3 months (8.3% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 390% Paying a dividend despite having no free cash flows. Earnings have declined by 34% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿496.0m market cap, or US$16.0m). Reported Earnings • Nov 12
Third quarter 2025 earnings released: ฿0.001 loss per share (vs ฿0 in 3Q 2024) Third quarter 2025 results: ฿0.001 loss per share (further deteriorated from ฿0 in 3Q 2024). Revenue: ฿62.8m (down 4.2% from 3Q 2024). Net loss: ฿2.14m (down ฿2.18m from profit in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 05
Second quarter 2025 earnings released: EPS: ฿0.003 (vs ฿0.002 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.003 (up from ฿0.002 in 2Q 2024). Revenue: ฿61.5m (down 3.2% from 2Q 2024). Net income: ฿5.52m (up 107% from 2Q 2024). Profit margin: 9.0% (up from 4.2% in 2Q 2024). 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 43 percentage points per year, which is a significant difference in performance. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: ฿0.003 (vs ฿0.008 in 1Q 2024) First quarter 2025 results: EPS: ฿0.003 (down from ฿0.008 in 1Q 2024). Revenue: ฿61.2m (down 2.7% from 1Q 2024). Net income: ฿4.03m (down 68% from 1Q 2024). Profit margin: 6.6% (down from 20% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Apr 30
Now 29% overvalued Over the last 90 days, the stock has fallen 36% to ฿0.39. The fair value is estimated to be ฿0.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has declined by 61%. Buy Or Sell Opportunity • Mar 20
Now 24% overvalued Over the last 90 days, the stock has fallen 47% to ฿0.36. The fair value is estimated to be ฿0.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has declined by 61%. Reported Earnings • Feb 19
Full year 2024 earnings released: EPS: ฿0.011 (vs ฿0.004 in FY 2023) Full year 2024 results: EPS: ฿0.011 (up from ฿0.004 in FY 2023). Revenue: ฿255.2m (up 5.8% from FY 2023). Net income: ฿16.7m (up 146% from FY 2023). Profit margin: 6.6% (up from 2.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Tillkännagivande • Feb 18
AIRA Factoring Public Company Limited, Annual General Meeting, Apr 21, 2025 AIRA Factoring Public Company Limited, Annual General Meeting, Apr 21, 2025, at 10:00 SE Asia Standard Time. Tillkännagivande • Jan 10
NEC Thailand Partners with AIRA Group to Launch a Digital Supply Chain Platform In continuation of the MOU signed between NEC Corporation Thailand (NEC Thailand) and AIRA Factoring Public Company Limited (AIRA Factoring) in May 2024, NEC Thailand and AIRA Factoring have now formed a strategic partnership to launch a Digital Supply Chain financing platform. Through this collaboration, NEC Thailand and AIRA Factoring will provide a range of key services, including utilizing "TASConnect", a solution owned by SCV Research and Development PTE. LTD., and other digital capabilities of NEC to create robust and efficient supply chain finance programs. Additionally, the partnership will focus on client acquisition by targeting specific groups and markets to identify and capitalize on new business opportunities. Mr. Akarawit Sooksai, CEO of AIRA Factoring, emphasizes the critical role of business loans in helping SMEs sustain their operations, particularly for ongoing working capital needs. He projected that the implementation of Supply Chain Financing (SCF) would enable AIRA Factoring to increase its annual credit disbursement by over 10%, from THB 19 billion in 2024 onwards. By digitizing credit management processes, strengthening supplier relationships, and improving cash flow management for clients, AIRA Factoring aims to deliver benefits across all stakeholders—including sellers, buyers, and the company itself—while expanding its customer base sustainably. Mr. Ichiro Kurihara, President of NEC Corporation (Thailand), emphasizes that NEC remains committed to its strategy as a leading ICT provider while expanding its capabilities in the digital finance sector. By leveraging its expertise, NEC aims to support partners like AIRA Factoring in enhancing their financial services through efficient and automated digital solutions. Mr. Kurihara accentuates collaborating with AIRA factoring to launch Digital Supply Chain Platform marks a significant milestone in their partnership. Embracing the Thailand 4.0 strategic focus, AIRA Factoring and NEC Thailand will offer innovative and sustainable technology that will allow the industry to move to a value-based economy model. With the Thai manufacturing sector as a vital contributor to the nation's economy, AIRA Factoring and NEC Thailand have prioritized a digital supply chain financing platform that can support manufacturers with easier and faster access to funding, contributing to overall economic growth in Thailand. Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: ฿0 (vs ฿0.006 loss in 3Q 2023) Third quarter 2024 results: EPS: ฿0 (improved from ฿0.006 loss in 3Q 2023). Revenue: ฿65.5m (up 16% from 3Q 2023). Net income: ฿46.0k (up ฿9.21m from 3Q 2023). Profit margin: 0.1% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 20
Upcoming dividend of ฿0.02 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 11 October 2024. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (6.4%). Lower than average of industry peers (7.0%). Tillkännagivande • Sep 13
AIRA Factoring Public Company Limited Announces Cash Dividend for the Period from January 1, 2024 to June 30, 2024, Payable on October 11, 2024 AIRA Factoring Public Company Limited announced cash dividend of THB 0.02 per share for the operating period from January 1, 2024 to June 30, 2024. Record date for the right to receive dividends is September 30, 2024. Ex-dividend date is September 27, 2024. Payment date is October 11, 2024. New Risk • Aug 14
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 7.4% 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 Interest payments are not well covered by earnings (1.1x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Earnings have declined by 17% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (฿896.0m market cap, or US$25.7m). Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: ฿0.002 (vs ฿0.007 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.002 (down from ฿0.007 in 2Q 2023). Net income: ฿2.66m (down 76% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. New Risk • Jun 27
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 6.3% 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 Interest payments are not well covered by earnings (1.1x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Earnings have declined by 8.7% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (3.0% net profit margin). Market cap is less than US$100m (฿896.0m market cap, or US$24.3m). Reported Earnings • May 10
First quarter 2024 earnings released: EPS: ฿0.008 (vs ฿0.007 in 1Q 2023) First quarter 2024 results: EPS: ฿0.008 (up from ฿0.007 in 1Q 2023). Revenue: ฿62.9m (up 5.9% from 1Q 2023). Net income: ฿12.4m (up 4.7% from 1Q 2023). Profit margin: 20% (in line with 1Q 2023). 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 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: ฿0.004 (vs ฿0.028 in FY 2022) Full year 2023 results: EPS: ฿0.004 (down from ฿0.028 in FY 2022). Revenue: ฿241.1m (up 6.5% from FY 2022). Net income: ฿6.82m (down 85% from FY 2022). Profit margin: 2.8% (down from 20% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Tillkännagivande • Dec 14
AIRA Factoring Public Company Limited Announces Executive Changes The AIRA Factoring Public Company Limited informed that the Board of Director's Meeting of the Company No. 6/2023 which held on December 14,2023, passed the resolution as follows: Appointed Mr. Sirisak Borisuitsawat to be Executive Vice President, Risk Management and Debt Recovery Management, replacing Mr. Hasachai Khaoklong, who has resigned from the company. Appointed Mr. Wandej Lertpricha to be Executive Vice President, Information Technology. In this regard, the appointment shall be effective from December 14, 2023, onwards. Reported Earnings • Nov 15
Third quarter 2023 earnings released: ฿0.006 loss per share (vs ฿0.009 profit in 3Q 2022) Third quarter 2023 results: ฿0.006 loss per share (down from ฿0.009 profit in 3Q 2022). Revenue: ฿56.4m (down 2.7% from 3Q 2022). Net loss: ฿9.16m (down 165% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: ฿0.007 (vs ฿0.006 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.007 (up from ฿0.006 in 2Q 2022). Revenue: ฿61.6m (up 11% from 2Q 2022). Net income: ฿11.1m (up 6.5% from 2Q 2022). Profit margin: 18% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • May 09
AIRA Factoring Public Company Limited Announces Change in the Position of Chairman and Audit Committee Member AIRA Factoring Public Company Limited informed the change of the position of Chairman and Audit Committee according to the resolution of the Audit Committee No. 2/2023 dated May 8, 2023, as follows: Previously, the Audit Committee consisted of Mr. Kunakorn Makchaidee, Chairman of the Audit Committee; Mrs. Yajai Pattanasukwasun, Member of the Audit Committee and Mr. Poonsak Thiapairat, Member of the Audit Committee changed to Mrs. Yajai Pattanasukwasun as Chairman of the Audit Committee; Mr. Kunakorn Makchaidee as Member of the Audit Committee; Mr. Poonsak Thiapairat as Member of the Audit Committee. Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: ฿0.028 (vs ฿0.031 in FY 2021) Full year 2022 results: EPS: ฿0.028 (down from ฿0.031 in FY 2021). Revenue: ฿226.5m (up 14% from FY 2021). Net income: ฿45.3m (down 8.6% from FY 2021). Profit margin: 20% (down from 25% in FY 2021). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ฿0.032 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 13 January 2023. Trailing yield: 2.4%. Lower than top quartile of Thai dividend payers (5.6%). Lower than average of industry peers (3.0%). Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improved over the past week After last week's 15% share price gain to ฿1.07, the stock trades at a trailing P/E ratio of 33x. Average trailing P/E is 14x in the Diversified Financial industry in Asia. Total returns to shareholders of 77% over the past three years. Tillkännagivande • Dec 16
AIRA Factoring Public Company Limited Announces the Interim Dividend Payment, Payable on January 13, 2023 AIRA Factoring Public Company Limited announced the interim dividend payment to shareholders at the rate of THB 0.032 per share and fixing of the record date on which shareholders have the right to receive the dividend is on December 29, 2022. The dividend payment has been scheduled on January 13, 2023. Ex-dividend date is December 28, 2022. 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. 4 experienced directors. 5 highly experienced directors. Independent Director Navapol Damrongpong 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. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improved over the past week After last week's 17% share price gain to ฿1.12, the stock trades at a trailing P/E ratio of 37.2x. Average trailing P/E is 14x in the Diversified Financial industry in Asia. Total returns to shareholders of 85% over the past three years. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: ฿0.007 (vs ฿0.008 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.007 (down from ฿0.008 in 2Q 2021). Revenue: ฿55.5m (up 14% from 2Q 2021). Net income: ฿10.4m (down 14% from 2Q 2021). Profit margin: 19% (down from 25% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: ฿0.009 (vs ฿0.009 in 1Q 2021) First quarter 2022 results: EPS: ฿0.009 (vs ฿0.009 in 1Q 2021). Revenue: ฿55.3m (up 14% from 1Q 2021). Net income: ฿14.3m (up 2.4% from 1Q 2021). Profit margin: 26% (down from 29% 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 11% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • May 12
AIRA Factoring Public Company Limited Approves Appointment of Pornsiri Kusolputchong as Company Secretary AIRA Factoring Public Company Limited approved the appointment of Ms. Pornsiri Kusolputchong to be the company secretary according to Section 89/15 of the SEC Act B.E. 2535 instead of Mr. Pattawut Veerapradit. The effective date is on May 10, 2022 onwards. 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. 5 experienced directors. 4 highly experienced directors. Independent Director Navapol Damrongpong 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. Tillkännagivande • Feb 24
AIRA Factoring Public Company Limited, Annual General Meeting, Apr 21, 2022 AIRA Factoring Public Company Limited, Annual General Meeting, Apr 21, 2022, at 03:00 Coordinated Universal Time. Agenda: To acknowledge the minutes of the Annual General Shareholders Meeting No.1/2021; to acknowledge the Company's performance for the Year 2021; to consider and approve the Financial Statements of the Company for the fiscal year ended December 31, 2021 and to acknowledge the report of the auditor; to consider and approve the appropriation of net profit as statutory reserve; to consider and approve the omission of dividend payment of the year 2021; to consider and approve the election of directors in place of the retiring directors by rotation for the year 2022; and to consider other matters. Reported Earnings • Feb 23
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.031 (up from ฿0.027 in FY 2020). Revenue: ฿197.8m (down 5.8% from FY 2020). Net income: ฿49.5m (up 16% from FY 2020). Profit margin: 25% (up from 20% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ฿1.30, the stock trades at a trailing P/E ratio of 40.8x. Average trailing P/E is 29x in the Diversified Financial industry in Thailand. Total returns to shareholders of 122% over the past three years. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 16% share price gain to ฿1.33, the stock trades at a trailing P/E ratio of 41.7x. Average trailing P/E is 26x in the Diversified Financial industry in Thailand. Total returns to shareholders of 127% over the past three years. Executive Departure • Dec 03
Company Secretary Wattara Arun has left the company On the 1st of December, Wattara Arun's tenure as Company Secretary ended after 1.6 years in the role. We don't have any record of a personal shareholding under Wattara's name. Wattara is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.42 years. Upcoming Dividend • Nov 16
Upcoming dividend of ฿0.025 per share Eligible shareholders must have bought the stock before 23 November 2021. Payment date: 08 December 2021. Trailing yield: 2.4%. Lower than top quartile of Thai dividend payers (4.8%). Higher than average of industry peers (1.8%). Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS ฿0.007 (vs ฿0.006 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ฿46.2m (down 3.5% from 3Q 2020). Net income: ฿10.4m (up 17% from 3Q 2020). Profit margin: 23% (up from 19% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ฿1.09, the stock trades at a trailing P/E ratio of 35.2x. Average trailing P/E is 20x in the Diversified Financial industry in Thailand. Total returns to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improved over the past week After last week's 19% share price gain to ฿1.37, the stock trades at a trailing P/E ratio of 44.3x. Average trailing P/E is 21x in the Diversified Financial industry in Thailand. Total returns to shareholders of 112% over the past three years. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improved over the past week After last week's 53% share price gain to ฿1.22, the stock trades at a trailing P/E ratio of 39.4x. Average trailing P/E is 21x in the Diversified Financial industry in Thailand. Total returns to shareholders of 91% over the past three years. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS ฿0.008 (vs ฿0.007 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: ฿48.6m (down 3.3% from 2Q 2020). Net income: ฿12.0m (up 14% from 2Q 2020). Profit margin: 25% (up from 21% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Board Change • Aug 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. 5 experienced directors. 4 highly experienced directors. Independent Director Navapol Damrongpong 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 • May 12
First quarter 2021 earnings released: EPS ฿0.009 (vs ฿0.005 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ฿48.5m (down 19% from 1Q 2020). Net income: ฿13.9m (up 62% from 1Q 2020). Profit margin: 29% (up from 14% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 24
Full year 2020 earnings released: EPS ฿0.027 (vs ฿0.026 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ฿209.9m (down 9.0% from FY 2019). Net income: ฿42.7m (up 1.3% from FY 2019). Profit margin: 20% (up from 18% in FY 2019). The increase in margin was driven by lower expenses. 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 8% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 28
New 90-day high: ฿0.74 The company is up 23% from its price of ฿0.60 on 29 September 2020. The Thai market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 22% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: ฿0.65 The company is up 20% from its price of ฿0.54 on 03 September 2020. The Thai market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 5.0% over the same period. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS ฿0.006 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿47.9m (down 16% from 3Q 2019). Net income: ฿8.90m (down 20% from 3Q 2019). Profit margin: 19% (down from 20% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 8% per year. Is New 90 Day High Low • Oct 13
New 90-day high: ฿0.64 The company is up 16% from its price of ฿0.55 on 15 July 2020. The Thai market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is down 3.0% over the same period. Is New 90 Day High Low • Sep 26
New 90-day high: ฿0.61 The company is up 9.0% from its price of ฿0.56 on 26 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is down 2.0% over the same period. 
