Reported Earnings • May 08
First quarter 2026 earnings released: EPS: ฿0.09 (vs ฿0.20 loss in 1Q 2025) First quarter 2026 results: EPS: ฿0.09 (up from ฿0.20 loss in 1Q 2025). Revenue: ฿5.49b (up 5.9% from 1Q 2025). Net income: ฿96.4m (up ฿302.6m from 1Q 2025). Profit margin: 1.8% (up from net loss in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 32 percentage points per year, which is a significant difference in performance. Board Change • Apr 18
High number of new directors Independent Director Chintapun Dansubutra was the last director to join the board, commencing their role in 2026. New Risk • Mar 19
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 7.1% 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 Risk Earnings have declined by 61% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). New Risk • Feb 12
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: 3.4% 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 Risk Earnings have declined by 61% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. Reported Earnings • Feb 11
Full year 2025 earnings released: ฿0.67 loss per share (vs ฿0.26 loss in FY 2024) Full year 2025 results: ฿0.67 loss per share (further deteriorated from ฿0.26 loss in FY 2024). Revenue: ฿19.9b (up 4.8% from FY 2024). Net loss: ฿683.8m (loss widened 158% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Duyuru • Feb 09
Global Green Chemicals Public Company Limited, Annual General Meeting, Mar 30, 2026 Global Green Chemicals Public Company Limited, Annual General Meeting, Mar 30, 2026, at 09:30 SE Asia Standard Time. Board Change • Dec 03
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Sirin Daengchaiwat was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Third quarter 2025 earnings released: ฿0.38 loss per share (vs ฿0.18 loss in 3Q 2024) Third quarter 2025 results: ฿0.38 loss per share (further deteriorated from ฿0.18 loss in 3Q 2024). Revenue: ฿4.66b (up 4.0% from 3Q 2024). Net loss: ฿384.8m (loss widened 111% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: ฿100 (vs ฿0.17 loss in 2Q 2024) Second quarter 2025 results: EPS: ฿100 (up from ฿0.17 loss in 2Q 2024). Revenue: ฿5.37b (up 18% from 2Q 2024). Net loss: ฿168.3m (loss narrowed 5.6% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • May 09
First quarter 2025 earnings released: ฿0.20 loss per share (vs ฿0.053 loss in 1Q 2024) First quarter 2025 results: ฿0.20 loss per share (further deteriorated from ฿0.053 loss in 1Q 2024). Revenue: ฿5.19b (up 15% from 1Q 2024). Net loss: ฿206.1m (loss widened 280% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Duyuru • Apr 01
Global Green Chemicals Public Company Limited Approves Dividend for 2024, Payable on Apr. 21, 2025 Global Green Chemicals Public Company Limited announced that at its AGM held on March 31, 2025, approved the allocation of profit as legal reserve at THB 10,542,000 or 5% of 2024 net profits and the dividend payment for the year 2024 at the rate of THB 0.10 per share, totaling approximately THB 102 million, or 49% of the net profit according to the separated financial statement, which will be paid from the unappropriated retained earning which was subject to corporate income tax of 20% whereby individual shareholders are entitled to claim tax credit equaling the product of dividend times 20/80 under the section 47 bis of the Code of Revenue. GGC shall be paid to the shareholders whose names are listed on the Record Date on, February 25, 2025 and the shareholders are entitled to receive dividend on, April 21, 2025. New Risk • Mar 19
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 7.3% 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 Risk Earnings have declined by 31% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). Upcoming Dividend • Feb 17
Upcoming dividend of ฿0.10 per share Eligible shareholders must have bought the stock before 24 February 2025. Payment date: 21 April 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Thai dividend payers (7.6%). Lower than average of industry peers (3.5%). Reported Earnings • Feb 11
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: ฿0.26 loss per share (further deteriorated from ฿0.20 loss in FY 2023). Revenue: ฿19.0b (up 7.3% from FY 2023). Net loss: ฿264.9m (loss widened 32% from FY 2023). Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Duyuru • Feb 11
Global Green Chemicals Public Company Limited, Annual General Meeting, Mar 31, 2025 Global Green Chemicals Public Company Limited, Annual General Meeting, Mar 31, 2025, at 09:30 SE Asia Standard Time. Duyuru • Feb 10
Global Green Chemicals Public Company Limited Proposes Dividend for 2024, Payable on Apr. 21, 2025 The Board of Directors of Global Green Chemicals Public Company Limited deemed appropriate to propose the Annual General Meeting of Shareholders, to be held on Mar. 31, 2025 to consider and approve the allocation of Profit to be legal reserve at THB 10,542,000 and the dividend payment for the year 2024 operating performance of THB 0.10 per share, totaling approximately THB 102 million, which will be paid from profit of separate financial statement, or dividend payout ratio at 49% of the net profit of separate financial statement, which will be paid from the unappropriated retained earning which was subject to corporate income tax of 20% where individual shareholders are entitled to claim tax credit equaling the product of dividend times 20/80 under the section 47 bis of the Code of Revenue. Record date for the right to receive dividends Feb. 25, 2025 with Ex-dividend date on Feb. 24, 2025 and Payment date is Apr. 21, 2025. Reported Earnings • Nov 08
Third quarter 2024 earnings released: ฿0.18 loss per share (vs ฿0.26 loss in 3Q 2023) Third quarter 2024 results: ฿0.18 loss per share (improved from ฿0.26 loss in 3Q 2023). Revenue: ฿4.48b (up 14% from 3Q 2023). Net loss: ฿182.6m (loss narrowed 30% from 3Q 2023). Revenue is forecast to grow 18% p.a. on average during the next 2 years, while revenues in the Chemicals industry in Thailand are expected to remain flat. 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. Reported Earnings • Aug 07
Second quarter 2024 earnings released: ฿0.17 loss per share (vs ฿0.007 profit in 2Q 2023) Second quarter 2024 results: ฿0.17 loss per share (down from ฿0.007 profit in 2Q 2023). Revenue: ฿4.55b (down 4.1% from 2Q 2023). Net loss: ฿178.3m (down ฿185.4m from profit in 2Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 2.6% growth forecast for the Chemicals industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jul 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to ฿6.10. The fair value is estimated to be ฿7.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Duyuru • Jul 15
Global Green Chemicals Public Company Limited Announces Notification of the Court of Appeal's Judgement on Civil Black Case Brought by Triconeer Acme Co., Ltd Global Green Chemicals Public Company Limited disclosed the judgement of the Court of First Instance in Civil Blank Case No. Por.2704/2563, between Triconeer Acme Co. Ltd. (Plaintiff) and the Company (Defendant), where the court ordered the Company to pay the Plaintiff in the amount of THB 60,318.54 together with interest until payment is completed. The Company would like to notify that on July 10, 2024, the Court of Appeal upheld the judgment of the Court of First Instance. However, the case is not yet final. The litigant who disagrees with the Court of Appeal's judgement is entitled to ask permission to petition the case to the Supreme Court within one month from the date the court rendered such judgement. Buy Or Sell Opportunity • Jun 17
Now 28% undervalued after recent price drop Over the last 90 days, the stock has fallen 29% to ฿5.60. The fair value is estimated to be ฿7.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Duyuru • May 16
Global Green Chemicals Public Company Limited Appoints Narongsak Jivakanun to Be Director and Chairman of the Board of Directors Global Green Chemicals Public Company informed that the Company's Board of Directors at the meeting No. 5/2024 held on May 15, 2024 has passed the resolution for the appointment of Mr. Narongsak Jivakanun to be Director and Chairman of the Board of Directors in replacement of Director who resigned, effective from May 15, 2024 onwards. Reported Earnings • May 08
First quarter 2024 earnings released: ฿50.00 loss per share (vs ฿0.039 profit in 1Q 2023) First quarter 2024 results: ฿50.00 loss per share (down from ฿0.039 profit in 1Q 2023). Revenue: ฿4.52b (down 3.1% from 1Q 2023). Net loss: ฿54.3m (down 236% from profit in 1Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 2.4% growth forecast for the Chemicals industry in Thailand. 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 10% per year, which means it has not declined as severely as earnings. Duyuru • Apr 30
Global Green Chemicals Public Company Limited Announces Resignation of Kongkrapan Intarajang as Director and Chairman Global Green Chemicals Public Company Limited informed that Mr. Kongkrapan Intarajang, Director and Chairman has resigned from the Directorship of the Company, effective from 13 May 2024 onwards. In this regard, the Company would proceed to appoint a qualified person to replace the vacant positions and would make further notification to the Stock Exchange of Thailand in due course. Duyuru • Apr 26
Global Green Chemicals Public Company Limited Announces Appointment of Sub-Committee Members Global Green Chemicals Public Company Limited inform that the Company's Board of Directors No. 4/2024 held on April 24, 2024 has passed the resolution for the appointment of Sub-Committee members as follows: The Audit Committee: Prof. Dr. Kumchai Jongjakapun as Chairman; Mrs. Kannika Ngamsopee as Director; Mrs. Sommai Siriudomset as Director. The Nomination and Remuneration Committee: Mr. Jarun Wiwatjesadawut Chairman, Lt. Gen. Titawat Satiantip Director, Mr. Saroj Putthammawong Director. The Corporate Governance and Sustainable Development Committee: Pol. Gen. Suchart Theerasawat Chairman, Lt. Gen. Titawat Satiantip Director, Mr. Kajohn Srichavanotai Director, Mrs. Sommai Siriudomset Director. The Risk Management Committee: Mrs. Kannika Ngamsopee Chairman, Mr. Jarun Wiwatjesadawut Director, Mr. Saroj Putthammawong Director, Mr. Thanakorn Manoonpol Director, Mr. Kridsada Prasertsuko Director. The appointment of new Sub-Committee members is effective from April 24, 2024 onwards. Duyuru • Apr 03
Global Green Chemicals Public Company Limited Approves Omission of Dividend Payment for the Year 2023 Global Green Chemicals Public Company Limited announced that at its AGM held on April 2, 2024, approved the omission of the allocation of profit to be legal reserve since the company had net loss stated in the consolidated financial statements of 2023 THB 201,518,414 and net loss stated in the separate financial statements THB 79,639,425 and the omission of the dividend payment as well as acknowledged the interim dividend payment on September 6, 2023 at the rate of THB 0.10 per share, totaling THB 102,366,670. Buy Or Sell Opportunity • Feb 12
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.5% to ฿8.60. The fair value is estimated to be ฿11.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Duyuru • Feb 10
Global Green Chemicals Public Company Limited, Annual General Meeting, Apr 02, 2024 Global Green Chemicals Public Company Limited, Annual General Meeting, Apr 02, 2024, at 13:30 SE Asia Standard Time. Agenda: To Acknowledge GGC's Operation for the Year 2023 and the Recommendation for GGC's Business Plan and Approve GGC's Financial Statements for the Year ended December 31, 2023; to consider and approve the Omission of the Allocation of Profit, the Legal Reserve Fund, and the Dividend Payment from the Operating Result in 2023 and Acknowledge the Interim Dividend Payment; to Consider and Elect New Director to Replace Those Who are due to Retire by Rotation; to consider and approve the Directors' Remuneration; to consider the appointment of the Auditor and Determine the Auditors Annual Fee for the year 2024; and to consider other issues (If any). Reported Earnings • Feb 10
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: ฿0.20 loss per share (down from ฿0.93 profit in FY 2022). Revenue: ฿17.7b (down 29% from FY 2022). Net loss: ฿201.5m (down 121% from profit in FY 2022). Revenue missed analyst estimates by 19%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 1.8% growth forecast for the Chemicals industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 10
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: ฿0.20 loss per share (down from ฿0.93 profit in FY 2022). Revenue: ฿17.7b (down 29% from FY 2022). Net loss: ฿201.5m (down 121% from profit in FY 2022). Revenue missed analyst estimates by 19%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 1.8% growth forecast for the Chemicals industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Duyuru • Feb 09
Global Green Chemicals Public Company Limited Proposes Omission of Dividend for the Year 2023 Global Green Chemicals Public Company Limited at its board meeting held on February 9, 2024, approved to propose at its Annual General Meeting of Shareholders to be held on April 2, 2024, the Omission of the Allocation of Profit, the Legal Reserve Fund, and the Dividend Payment from the Operating Result in 2023. Duyuru • Jan 17
Global Green Chemicals Public Company Limited Announces Executive Changes Global Green Chemicals Public Company Limited announced that the Company's Board of Directors No. 1/2024 held on January 17, 2024 has passed the resolution of the appointment Mr. Saroj Putthammawong to be Director, Director to Nomination and Remuneration Committee, and Director to Risk Management Committee in replacement of Director who resigned with a recommendation by the Nomination and Remuneration Committee. The Company Board of Directors and Sub-Committee members as of January 17, 2024 as follows: Mr. Kongkrapan Intarajang Chairman Prof. Dr. Kumchai Jongjakapun Chairman of Independent Director /Chairman of Audit Committee, Mrs. Kannika Ngamsopee Independent Director /Chairman of Risk Management Committee /Director to Audit Committee Pol. Gen. Suchart Theerasawat Independent Director /Chairman of Corporate Governance and Sustainable Development Committee, Mr. Jarun Wiwatjesadawut Independent Director /Chairman of Nomination and Remuneration Committee /Director to Risk Management Committee, Lt. Gen. Titawat Satiantip Independent Director /Director to Audit Committee /Director to Nomination and Remuneration Committee /Director to Corporate Governance and Sustainable Development Committee, Mr. Kajohn Srichavanotai Independent Director /Director to Corporate Governance and Sustainable Development Committee Mrs. Sommai Siriudomset Independent Director /Director to Audit Committee Mr. Saroj Putthammawong Director /Director to Nomination and Remuneration, Committee /Director to Risk Management Committee Mr. Thanakorn Manoonpol Director /Director to Risk Management Committee and Mr. Kridsada Prasertsuko Director /Director to Risk Management Committee. Duyuru • Dec 15
Global Green Chemicals Public Company Limited Announces Resignation of Director and Sub-Committee Members, Effective from January 1, 2024 Global Green Chemicals Public Company Limited informed that Mr. Varit Namwong, Director, Director to Nomination and Remuneration Committee, and Director to Risk Management Committee, has resigned from his positions, effective from January 1, 2024 onwards. Duyuru • Nov 24
Global Green Chemicals Public Company Limited Announces CFO Changes Global Green Chemicals Public Company Limited announced termination of appointment of Miss Wanlapa Sophiskhaunkhant, CFO. Effective Date of Termination: 01 January, 2024. The Company also announced the appointment of Mr. JITTASAK SOONTHORNPAN as CFO. Effective Date of appointment: 01 January, 2024. Duyuru • Nov 23
Global Green Chemicals Public Company Limited Announces Appointment of Sommai Siriudomset to Be Independent Director and Director to Audit Committee Global Green Chemicals Public Company Limited informed that the Company's Board of Directors No. 14/2023 held on November 22, 2023 has passed the resolution of the appointment Mrs. Sommai Siriudomset to be Independent Director and Director to Audit Committee in replacement of Director who resigned with a recommendation by the Nomination and Remuneration Committee as follows. The Company Board of Directors and Sub-Committee members as of November 22, 2023 as follows: Mr. Kongkrapan Intarajang, Chairman; Prof. Dr. Kumchai Jongjakapun, Chairman of Independent Director /Chairman of Audit Committee; Mrs. Kannika Ngamsopee, Independent Director /Chairman of Risk Management Committee /Director to Audit Committee; Pol. Gen. Suchart Theerasawat, Independent Director /Chairman of Corporate Governance and Sustainable Development Committee; Mr. Jarun Wiwatjesadawut, Independent Director /Chairman of Nomination and Remuneration Committee /Director to Risk Management Committee; Lt. Gen. Titawat Satiantip, Independent Director /Director to Audit Committee /Director to Nomination and Remuneration Committee /Director to Corporate Governance and Sustainable Development Committee; Mr. Kajohn Srichavanotai, Independent Director /Director to Corporate Governance and Sustainable Development Committee; Mrs. Sommai Siriudomset, Independent Director /Director to Audit Committee; Mr. Varit Namwong, Director /Director to Nomination and Remuneration Committee /Director to Risk Management Committee; Mr. Thanakorn Manoonpol, Director /Director to Risk Management Committee; Mr. Kridsada Prasertsuko, Director /Director to Risk Management Committee. Reported Earnings • Nov 04
Third quarter 2023 earnings released: ฿0.26 loss per share (vs ฿0.068 profit in 3Q 2022) Third quarter 2023 results: ฿0.26 loss per share (down from ฿0.068 profit in 3Q 2022). Revenue: ฿3.94b (down 32% from 3Q 2022). Net loss: ฿262.4m (down 477% from profit in 3Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Thailand are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Duyuru • Nov 02
Global Green Chemicals Public Company Limited Announces Executive Changes Global Green Chemicals Public Company Limited informed that the Company's Board of Directors No. 13/2023 (Special Meeting) held on November 1, 2023 has passed the resolution of theappointment Lt. Gen. Titawat Satiantip be Director to the Audit Committee in replacement of Director who resigned with a recommendation by the Nomination and Remuneration Committee as follows. The Company Sub-Committee members as of November 1, 2023 as follows: Prof. Dr. Kumchai Jongjakapun, Chairman of Independent Director /Chairman of Audit Committee; Mrs. Kannika Ngamsopee, Independent Director /Chairman of Risk Management Committee /Director to Audit Committee; Pol. Gen. Suchart Theerasawat, Independent Director /Chairman of Corporate Governance and Sustainable Development Committee; Mr. Jarun Wiwatjesadawut, Independent Director /Chairman of Nomination and Remuneration Committee /Director to Risk Management Committee; Lt. Gen. Titawat Satiantip, Independent Director /Director to Audit Committee /Director to Nomination and Remuneration Committee /Director to Corporate Governance and Sustainable Development Committee; Mr. Kajohn Srichavanotai, Independent Director /Director to Corporate Governance and Sustainable Development Committee; Mr. Varit Namwong, Director /Director to Nomination and Remuneration Committee /Director to Risk Management Committee; Mr. Thanakorn Manoonpol, Director /Director to Risk Management Committee; Mr. Kridsada Prasertsuko, Director /Director to Risk Management Committee. Duyuru • Nov 01
Global Green Chemicals Public Company Limited Resignation of Mr. Thanwa Laohasiriwong as Independent Director and Sub-Committee Members Global Green Chemicals Public Company Limited informed that Mr. Thanwa Laohasiriwong, Independent Director, Director to the Audit Committee, and Director to the Corporate Governance and Sustainability Committee, has resigned from his positions due his other business engagement, effective from October 31, 2023 onwards. New Risk • Oct 31
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 7.3% 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: Minor Risks Dividend is not well covered by earnings (394% payout ratio). Share price has been volatile over the past 3 months (7.3% average weekly change). Profit margins are more than 30% lower than last year (0.5% net profit margin). Upcoming Dividend • Aug 14
Upcoming dividend of ฿0.10 per share at 1.7% yield Eligible shareholders must have bought the stock before 21 August 2023. Payment date: 06 September 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.7%. Lower than top quartile of Thai dividend payers (6.4%). Lower than average of industry peers (3.1%). Duyuru • Aug 09
Global Green Chemicals Public Company Limited Declares Interim Dividend Payment, Payable on September 6, 2023 Global Green Chemicals Public Company Limited declared Interim Dividend of THB 0.10 payment, payable on September 6, 2023. Ex-dividend date is August 21, 2023. New Risk • Aug 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.5% Last year net profit margin: 4.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (dividend per share is over 5x earnings per share). Profit margins are more than 30% lower than last year (0.5% net profit margin). Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: ฿0.01 (vs ฿0.41 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.01 (down from ฿0.41 in 2Q 2022). Revenue: ฿4.74b (down 37% from 2Q 2022). Net income: ฿7.01m (down 98% from 2Q 2022). Profit margin: 0.1% (down from 5.6% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Thailand are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 09
First quarter 2023 earnings released: EPS: ฿0.04 (vs ฿0.48 in 1Q 2022) First quarter 2023 results: EPS: ฿0.04 (down from ฿0.48 in 1Q 2022). Revenue: ฿4.66b (down 36% from 1Q 2022). Net income: ฿39.8m (down 92% from 1Q 2022). Profit margin: 0.9% (down from 6.7% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 1.4% decline forecast for the Chemicals industry in Thailand. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 11
Price target increased by 10% to ฿14.35 Up from ฿13.03, the current price target is an average from 2 analysts. New target price is 11% above last closing price of ฿12.90. Stock is down 2.3% over the past year. The company is forecast to post earnings per share of ฿0.80 for next year compared to ฿0.93 last year. Upcoming Dividend • Feb 16
Upcoming dividend of ฿0.25 per share at 3.7% yield Eligible shareholders must have bought the stock before 23 February 2023. Payment date: 20 April 2023. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (5.6%). Higher than average of industry peers (3.3%). Major Estimate Revision • Jan 21
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from ฿1.34 to ฿0.91 per share. Revenue forecast steady at ฿25.0b. Net income forecast to grow 2.4% next year vs 29% growth forecast for Chemicals industry in Thailand. Consensus price target of ฿13.93 unchanged from last update. Share price was steady at ฿14.90 over the past week. Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Director Thanakorn Manoonpol was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Nov 09
Global Green Chemicals Public Company Limited Announces Director Changes Global Green Chemicals Public Company Limited announced that referring to the resignation of Mr. Piroj Samutthananont, from Director and Managing Director effective from 31 December 2022. The Board of Directors Meeting No. 13/2022 on 8 November 2022, has resolved by the recommendation of the Nomination and Remuneration Committee to appoint Mr. Kridsada Prasertsuko to be Director and Managing Director of the Company. The appointment shall be effective on 1 January 2023. Reported Earnings • Nov 09
Third quarter 2022 earnings released: EPS: ฿0.07 (vs ฿0.24 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.07 (down from ฿0.24 in 3Q 2021). Revenue: ฿5.76b (up 16% from 3Q 2021). Net income: ฿69.7m (down 72% from 3Q 2021). Profit margin: 1.2% (down from 4.9% in 3Q 2021). Revenue is expected to fall by 1.9% p.a. on average during the next 3 years compared to a 1.4% decline forecast for the Chemicals industry in Thailand. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Sep 20
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ฿24.9b to ฿23.0b. EPS estimate also fell from ฿0.89 per share to ฿0.78 per share. Net income forecast to shrink 24% next year vs 19% growth forecast for Chemicals industry in Thailand . Consensus price target of ฿13.03 unchanged from last update. Share price was steady at ฿16.10 over the past week. Upcoming Dividend • Aug 15
Upcoming dividend of ฿0.25 per share Eligible shareholders must have bought the stock before 22 August 2022. Payment date: 06 September 2022. Payout ratio is a comfortable 58% but the company is paying out more than the cash it is generating. Trailing yield: 3.4%. Lower than top quartile of Thai dividend payers (5.5%). Lower than average of industry peers (4.8%). Reported Earnings • Aug 13
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: ฿7.50b (up 56% from 2Q 2021). Net income: ฿422.1m (up 430% from 2Q 2021). Profit margin: 5.6% (up from 1.7% in 2Q 2021). Over the next year, revenue is expected to shrink by 5.0% compared to a 2.4% decline forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 11
Consensus revenue estimates increase by 14% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from ฿22.1b to ฿25.3b. EPS estimate increased from ฿0.63 to ฿1.17 per share. Net income forecast to grow 51% next year vs 12% growth forecast for Chemicals industry in Thailand. Consensus price target up from ฿12.73 to ฿13.03. Share price was steady at ฿14.70 over the past week. Duyuru • Aug 10
Global Green Chemicals Public Company Limited Announces Interim Dividend, Payable on September 6, 2022 Global Green Chemicals Public Company Limited announced Interim Dividend value of THB 0.25 per share. Payment date is September 6, 2022. Ex-dividend date is August 22, 2022. Record date for the right to receive dividend is August 23, 2022. Duyuru • Jun 30
Global Green Chemicals Public Company Limited Appoints Kumchai Jongjakapun as Chairman of Independent Directors Global Green Chemicals Public Company Limited announced independent directors meeting no. 1/2022 held on June 29, 2022 has passed the resolution to appoint Prof. Dr. Kumchai Jongjakapun to be the chairman of independent directors effective from June 29, 2022 onwards. The company board of directors and sub-committees members as of June 29, 2022 are as follows: 1. Mr. Kongkrapan Intarajang - chairman, 2. Prof. Dr. Kumchai Jongjakapun - chairman of independent directors /chairman of audit committee, 3. Mrs. Kannika Ngamsopee - independent director /director to audit committee /chairman of risk management committee, 4. ACM Songtam Chokkanapitag - independent director /chairman of nomination and remuneration committee 5. Pol. Gen. Suchart Theerasawat - independent director /chairman of corporate governance and sustainable development committee, 6. Mr. Jarun Wiwatjesadawut - independent director /director to risk management committee, 7. Mr. Thanwa Laohasiriwong - independent director /director to audit committee /director to corporate governance and sustainable development committee, 8. Maj. Gen. Titawat Satiantip - independent director /director to nomination and remuneration committee /director to corporate governance and sustainable development committee, 9. Mr. Varit Namwong - director /director to nomination and remuneration committee /director to risk management committee 10. Mr. Thanakorn Manoonpol - director, 11. Mr. Piroj Samutthananont - director /director to risk management committee. Duyuru • Jun 16
Global Green Chemicals Public Company Limited Announces Executive Changes Global Green Chemicals Public Company Limited inform that the Company's Board of Directors at the meeting held on June 15, 2022 has passed the resolution by the recommendation of The Nomination and Remuneration Committee for the appointment of Director and Sub- Committee member in replacement of resigning Director as follows: Thanakorn Manoonpol as Director and Thanwa Laohasiriwong as Director to Audit Committee. Effective from June 15, 2022 onwards. The Director and Director to Audit Committee will hold the remaining period of time of position. The Company Board of Directors and Sub-committees members as of June 15, 2022 are as follows: Mr. Kongkrapan Intarajang as Chairman. Prof. Dr. Kumchai Jongjakapun as Independent Director /Chairman of Audit Committee. Mrs. Kannika Ngamsopee as Independent Director /Director to Audit Committee /Chairman of Risk Management Committee. ACM Songtam Chokkanapitag as Independent Director /Chairman of Nomination and Remuneration Committee. Pol. Gen. Suchart Theerasawat as Independent Director /Chairman of Corporate Governance and Sustainable Development Committee. Mr. Jarun Wiwatjesadawut as Independent Director /Director to Risk Management Committee. Mr. Thanwa Laohasiriwong as Independent Director /Director to Audit Committee /Director to Corporate Governance and Sustainable Development Committee. Maj. Gen. Titawat Satiantip as Independent Director /Director to Nomination and Remuneration Committee /Director to Corporate Governance and Sustainable Development Committee. Mr. Varit Namwong as Director /Director to Nomination and Remuneration Committee /Director to Risk Management Committee. Mr. Thanakorn Manoonpol as Director. Mr. Piroj Samutthananont as Director /Director to Risk Management Committee. Reported Earnings • May 13
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: ฿0.48 (up from ฿0.092 in 1Q 2021). Revenue: ฿7.32b (up 47% from 1Q 2021). Net income: ฿487.0m (up 417% from 1Q 2021). Profit margin: 6.7% (up from 1.9% in 1Q 2021). Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) missed analyst estimates by 38%. Over the next year, revenue is expected to shrink by 4.7% compared to a 10% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 12
Consensus revenue estimates increase by 10% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from ฿20.0b to ฿22.1b. EPS estimate increased from ฿0.62 to ฿0.65 per share. Net income forecast to grow 133% next year vs 9.4% growth forecast for Chemicals industry in Thailand. Consensus price target up from ฿12.40 to ฿12.73. Share price was steady at ฿13.90 over the past week. Price Target Changed • Apr 27
Price target increased to ฿12.40 Up from ฿11.48, the current price target is an average from 4 analysts. New target price is 13% below last closing price of ฿14.20. Stock is up 28% over the past year. The company is forecast to post earnings per share of ฿0.61 for next year compared to ฿0.32 last year. Board Change • Apr 27
High number of new directors There are 8 new directors who have joined the board in the last 3 years. Independent Director Thanwa Laohasiriwong was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Mar 04
Global Green Chemicals Public Company Limited Announces Changing of Chief Accountant Global Green Chemicals Public Company Limited announced Mrs. Nuttaya Wudtisuk resigned as chief accountant Division Manager Accounting and Budgeting Effective Date of Termination 28 February 2022. Miss Phunnapa Homyen appointed as Chief Accountant, Division Manager, Accounting and Budgeting, Effective Date of Appointment March 1, 2022. Upcoming Dividend • Feb 17
Upcoming dividend of ฿0.35 per share Eligible shareholders must have bought the stock before 24 February 2022. Payment date: 20 April 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.6%. Lower than top quartile of Thai dividend payers (5.0%). Lower than average of industry peers (3.3%). Reported Earnings • Feb 13
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ฿0.32 (down from ฿0.55 in FY 2020). Revenue: ฿20.9b (up 15% from FY 2020). Net income: ฿330.2m (down 41% from FY 2020). Profit margin: 1.6% (down from 3.1% in FY 2020). Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) missed analyst estimates by 38%. Over the next year, revenue is expected to shrink by 13% compared to a 11% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 28
Clarification of the Court of Appeal's Judgement Regarding to the Lawsuit Against Loan Receivable and Its Trade Partner Asia Capital Group Public Company Limited has filed a lawsuit against loan receivable, Thai Bio Innovation Company Limited as the first defendant and its trade partner, Global Green Chemicals Public Company Limited as the second defendant since 20 August 2018. On 20 January 2022, the Court of Appeal upheld the judgment made by the Court of First Instance that the second defendant has to pay 289,563,527.50 baht with interest of 15% from the due date to the date that debts have already been paid. Price Target Changed • Nov 11
Price target increased to ฿12.40 Up from ฿11.48, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ฿12.30. Stock is up 46% over the past year. The company is forecast to post earnings per share of ฿0.49 for next year compared to ฿0.55 last year. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS ฿0.24 (vs ฿0.097 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿4.99b (up 30% from 3Q 2020). Net income: ฿244.0m (up 145% from 3Q 2020). Profit margin: 4.9% (up from 2.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Price Target Changed • Sep 09
Price target increased to ฿11.48 Up from ฿10.23, the current price target is an average from 4 analysts. New target price is 5.3% above last closing price of ฿10.90. Stock is up 23% over the past year. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS ฿0.078 (vs ฿0.34 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿4.81b (up 22% from 2Q 2020). Net income: ฿79.6m (up ฿423.4m from 2Q 2020). Profit margin: 1.7% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ฿10.30, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 17x in the Chemicals industry in Thailand. Total loss to shareholders of 15% over the past three years. Reported Earnings • May 09
First quarter 2021 earnings released: EPS ฿0.09 (vs ฿0.23 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿4.97b (down 5.0% from 1Q 2020). Net income: ฿94.2m (down 61% from 1Q 2020). Profit margin: 1.9% (down from 4.6% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 17
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from ฿0.68 to ฿0.57 per share. Revenue forecast steady at ฿17.1b. Net income forecast to grow 21% next year vs 45% growth forecast for Chemicals industry in Thailand. Consensus price target down from ฿11.89 to ฿11.22. Share price fell 4.3% to ฿11.10 over the past week. Upcoming Dividend • Feb 18
Upcoming Dividend of ฿0.35 Per Share Will be paid on the 21st of April to those who are registered shareholders by the 25th of February. The trailing yield of 3.3% is below the top quartile of Thai dividend payers (6.2%), but it is higher than industry peers (1.9%). Analyst Estimate Surprise Post Earnings • Feb 12
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 7.8%. Earnings per share (EPS) also surpassed analyst estimates by 96%. Over the next year, revenue is expected to shrink by 5.0% compared to a 9.8% growth forecast for the Chemicals industry in Thailand. Reported Earnings • Feb 11
Full year 2020 earnings released: EPS ฿0.55 (vs ฿0.092 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿18.2b (up 39% from FY 2019). Net income: ฿560.1m (up 496% from FY 2019). Profit margin: 3.1% (up from 0.7% 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 46% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 11
New 90-day high: ฿10.60 The company is up 25% from its price of ฿8.50 on 13 November 2020. The Thai market is up 14% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 31% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿42.97 per share. Duyuru • Feb 11
Global Green Chemicals Public Company Limited, Annual General Meeting, Apr 02, 2021 Global Green Chemicals Public Company Limited, Annual General Meeting, Apr 02, 2021, at 02:30 Coordinated Universal Time. Agenda: To consider the company's operation for the year 2020 and the recommendation for the company's business plan and approve the company's financial statements for the year ended December 31, 2020; to consider and approve the allocation of profit from the operating results in the year 2020 and dividend payment; to consider and elect new director to replace those who are due to retire by rotation; to consider and approve the directors' remuneration; and to consider the appointment of the auditor and determine the auditors annual fee for the year 2021. Is New 90 Day High Low • Dec 16
New 90-day high: ฿10.30 The company is up 18% from its price of ฿8.70 on 17 September 2020. The Thai market is up 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 33% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿48.29 per share. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue and earnings miss expectations Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 52%. Over the next year, revenue is forecast to grow 1.7%, compared to a 4.2% growth forecast for the Chemicals industry in Thailand. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS ฿0.10 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿3.85b (up 24% from 3Q 2019). Net income: ฿99.8m (up ฿197.1m from 3Q 2019). Profit margin: 2.6% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 22
New 90-day low: ฿7.95 The company is down 22% from its price of ฿10.20 on 24 July 2020. The Thai market is down 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is down 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿39.34 per share. Duyuru • Sep 26
Global Green Chemicals Public Company Limited Announces Thai Bio Innovation Co., Ltd. Filed A Civil Lawsuit Regarding the Breach of an Agreement Global Green Chemicals Public Company Limited announced that on 8 September 2020, the Company received a summons and a copy of a Civil Court plaint, in which Thai Bio Innovation Co. Ltd. a former supplier of the Company, filed a civil lawsuit regarding the breach of an agreement concerning the reclaiming of purchase price on crude palm oil (CPO) and crude palm kernel oil (CPKO), and claiming damages in the amount of THB 595,095,227.16 with interest at a rate of 7.5% per annum on the principal, amounting to THB 470,029,947.44 starting from the date of the lawsuit and continuing until the date of completion of payment. In this respect, the abovementioned case is a matter arising from the problem concerning the inventory shortfall situation of the Company. The Company had reported the criminal case to the inquiry officer against the suppliers who have caused damage to the Company as previously disclosed in details to the investors and the Stock Exchange of Thailand. The Company is of the view that the cause of the Plaintiff's claim is related to such report in the criminal case. The Company is confident that it has not breached the agreement as claimed by the Plaintiff. However, in order to protect the Company's legal rights, the Company will file testimony in the lawsuit with the court and proceed with its defense in accordance with the court proceeding and the applicable law. 