Company Summary
GULF GULF ENERGY DEVELOPMENT PUBLIC COMPANY LIMITED
Resources/Energy & Utilities
SET50 / SETCLMV / SETTHSI
CG Report:   
 
  Data as of 11 Aug 2022  
Price (B.) 52 Week High/Low P/E (X) P/BV (X) Paid-up (MB.) Market Cap (MB.) EV (MB.) EBITDA (MB.) EV/EBITDA
50.00 52.75 / 36.50 62.19 5.66 11,733.15 586,657.50 846,827.98 12,223.62 36.35
News
Date/Time Subject
11 Aug 2022 20:00   Divestment of a 50.01% equity stake in Borkum Riffgrund 2 Investor Holding GmbH
11 Aug 2022 18:00   Management Discussion and Analysis Quarter 2 Ending 30 Jun 2022
11 Aug 2022 17:47   Financial Performance Quarter 2 (F45) (Reviewed)
11 Aug 2022 17:46   Financial Statement Quarter 2/2022 (Reviewed)
08 Aug 2022 08:29   Investment in Lightrock Climate Impact Fund SCSp
more

Company Profile
Address 87 M Thai Tower 11th floor All Seasons Place, Wireless Road, Lumpini, Pathumwan Bangkok 10330
Telephone 0-2080-4499
Fax 0-2080-4455
URL http://www.gulf.co.th
  Annual Report 2021
Establish Date 08/2011 Listed Date 06/12/2017
IPO Price (Baht) 45.00 @Par5.00 Baht
IPO Financial Advisory
  • KASIKORN SECURITIES PUBLIC COMPANY LIMITED
  • BUALUANG SECURITIES PUBLIC COMPANY LIMITED
  • THE SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED
    		•
    Par 1.00 Baht
    Last Par Change Old 5.00 : New 1.00 @ 16/04/2020

    Business
    Holding company that invests in a portfolio of conventional and renewable power generation and distribution businesses, as well as natural gas supply and distribution, infrastructure development projects, and other related businesses.

    Free Float 07 Mar 2022 08 Mar 2021
    % /Shareholders
    26.23% 41,036 26.23% 48,132
    Foreign Shareholders 36.34% (As of 11/08/2022) Foreign Limit 49.00%
    NVDR Shareholders  3.86% (As of 11/08/2022)
    5 Yr Price Performance (Adjusted Price)
    Price Performance (Adjusted Price) Compare to Stock (%) Compare to Sector (%) Compare to Market (%)
    5 Days 2.04 -0.77 0.56
    20 Days 4.17 0.24 0.00
    60 Days 8.11 4.74 7.51
    120 Days -0.99 0.19 3.71
    YTD 9.29 7.72 11.67
    P/E (X) 62.19 12.29 18.39
    P/BV (X) 5.66 1.48 1.70
    Turnover Ratio (%) 0.15 0.35 0.93

    Top 10 Major Shareholders(@07 Mar 2022) Share %
    1. นาย สารัชถ์ รัตนาวะดี 4,171,077,797 35.55
    2. UBS AG SINGAPORE BRANCH 1,473,068,577 12.55
    3. GULF CAPITAL HOLDINGS LIMITED 1,160,431,363 9.89
    4. GULF INVESTMENT AND TRADING PTE. LTD. 877,250,502 7.48
    5. บริษัท กัลฟ์ โฮลดิ้ง (ประเทศไทย) จำกัด 551,729,877 4.70
    6. บริษัท Thai NVDR Company Limited 451,413,981 3.85
    7. RAFFLES NOMINEES (PTE) LIMITED 248,442,940 2.12
    8. บริษัท SINO-THAI ENGINEERING & CONSTRUCTION PUBLIC COMPANY LIMITED 220,000,000 1.88
    9. SOUTH EAST ASIA UK (TYPE C) NOMINEES LIMITED 146,574,329 1.25
    10. BANGKOK BANK PUBLIC COMPANY LIMITED 145,539,022 1.24

    Management Position
    1. Mr. VISET CHOOPIBAN CHAIRMAN OF THE BOARD OF DIRECTORS / INDEPENDENT DIRECTOR
    2. Mr. SARATH RATANAVADI CHIEF EXECUTIVE OFFICER / VICE CHAIRMAN
    3. Mrs. PORNTIPA CHINVETKITVANIT DIRECTOR
    4. Mr. BOONCHAI THIRATI DIRECTOR
    5. Miss YUPAPIN WANGVIWAT DIRECTOR
    6. Mrs. CHOTIKUL SOOKPIROMKASEM DIRECTOR
    7. Mr. KASEM SNIDVONGS NA AYUDHYA INDEPENDENT DIRECTOR / CHAIRMAN OF THE AUDIT COMMITTEE
    8. Mr. SANTI BOONPRAKUB INDEPENDENT DIRECTOR
    9. Mrs. RAWEPORN KUHIRUN INDEPENDENT DIRECTOR / AUDIT COMMITTEE
    10. Mr. SOMMAI PHASEE INDEPENDENT DIRECTOR / AUDIT COMMITTEE
    11. Mr. PREDEE DAOCHAI INDEPENDENT DIRECTOR
    12. Mr. SOMPRASONG BOONYACHAI INDEPENDENT DIRECTOR
    Accumulated: Turnover Ratio, Value Trade/Day
    Statistics YTD
    11 Aug 2022    		 2021
    30 Dec 2021    		 2020
    30 Dec 2020
    Listed share (M.) 11,733.15  11,733.15  11,733.15 
    Market Cap (MB.) 586,657.50  536,791.61  401,860.39 
    Price (B./share) 50.00  45.75  34.25 
    BVPS (B./Share) 8.83  7.60  4.98 
    P/BV (X) 5.66  6.02  6.88 
    P/E (X) 62.19  82.95  120.22 
    Turnover Ratio (%) 29.50  56.39  84.55 
    Value Trade/Day (MB.) 1,155.31  1,046.13  1,568.21 
    Beta 1.29  1.00  1.08 
     
    Rate of Return YTD  2021  2020 
    Price Change (%) 9.29  33.58  4.34 
    Dividend Yield (%) 0.88  0.83  0.69 
    Payout Ratio 0.55  0.69  0.83 
    Dividend Policy No less than 30% of the Company?s separate net profit, after deducting tax, legal reserve and other obligations under financing agreements (with additional conditions)

    Dividend
    Operation Period Dividend/Share Unit Payment Date Type
    01 Jan 2021 - 31 Dec 2021 0.44 Baht 28 Apr 2022 Cash
    01 Jan 2020 - 31 Dec 2020 0.38 Baht 28 Apr 2021 Cash
    01 Jan 2019 - 31 Dec 2019 1.30 Baht 28 Apr 2020 Cash
     
    Auditor
    (Effective Until 31/12/2022)
    MR. WAIYAWAT KORSAMARNCHAIYAKIJ/KPMG PHOOMCHAI AUDIT LIMITED
    MR. NATTHAPHONG TANTICHATTANON/KPMG PHOOMCHAI AUDIT LIMITED
    MS. SOPHIT PROMPOL/KPMG PHOOMCHAI AUDIT LIMITED
    		F/S Year ended 31/12
    Latest Type of Report Unqualified opinion
    Financial Data
    Statement of Financial Position (MB.) 6M/2022 
    (01/01/22 
    -30/06/22)     		 6M/2021 
    (01/01/21 
    -30/06/21)     		 2021 
    (01/01/21 
    -31/12/21)     		 2020 
    (01/01/20 
    -31/12/20)     		 2019 
    (01/01/19 
    -31/12/19) 
    Accounting Type Consolidate Consolidate Consolidate Consolidate Consolidate
    Cash And Cash Equivalents 16,818.84 15,042.13 19,846.84 15,902.24 14,389.80
    A/R Net 18,507.81 8,522.35 10,961.06 6,336.88 5,205.16
    Inventories 2,115.47 1,002.47 1,302.60 331.02 156.88
    Current Assets 41,804.86 29,983.92 38,811.16 30,354.37 22,416.88
    PP&E Net 126,957.84 124,960.61 130,128.00 129,718.34 80,960.73
    Non-Current Assets 346,443.86 238,944.69 323,862.69 215,226.14 111,860.67
    Total Assets 388,248.72 268,928.62 362,673.85 245,580.51 134,277.54
    OD 9,416.00 24,627.03 9,927.03 11,500.00 68.00
    A/P Net 18,420.83 7,622.23 14,810.17 9,550.16 5,096.76
    Current portion of LT 20,587.95 8,348.44 9,528.00 6,786.72 2,821.24
    Current Liabilities 49,972.24 42,095.53 35,016.23 29,642.63 9,808.95
    Non-Current Liabilities 219,946.16 148,062.46 220,148.48 143,858.06 75,428.65
    Total Liabilities 269,918.41 190,157.99 255,164.71 173,500.69 85,237.60
    Authorized Capital 11,733.15 11,733.15 11,733.15 11,733.15 10,666.50
    Paid-Up Capital 11,733.15 11,733.15 11,733.15 11,733.15 10,666.50
    Premium (Discount) on Share Capital 51,822.14 51,822.14 51,822.14 51,822.14 20,889.30
    Retained Earnings (Deficit) 36,693.97 6,502.06 36,931.18 7,967.85 6,488.09
    Treasury Stock - - - - -
    Shares Of The Company Held By Subsidiaries - - - - -
    Other Components Of Equity 3,356.13 -904.81 -3,890.53 -7,496.00 383.22
     - Surplus (Deficits) 1,173.51 1,173.51 1,173.51 1,173.51 1,173.51
    Shareholders' Equity 103,605.40 69,152.55 96,595.95 64,027.15 38,427.11
    Minority Interest 14,724.92 9,618.08 10,913.19 8,052.67 10,612.84
    more
    Statement of Comprehensive Income (MB.) 6M/2022 
    (01/01/22 
    -30/06/22)     		 6M/2021 
    (01/01/21 
    -30/06/21)     		 2021 
    (01/01/21 
    -31/12/21)     		 2020 
    (01/01/20 
    -31/12/20)     		 2019 
    (01/01/19 
    -31/12/19) 
    Accounting Type Consolidate Consolidate Consolidate Consolidate Consolidate
    Revenue From Operations 43,631.53 20,276.81 47,467.33 32,827.13 30,039.67
    Other Income 13.18 3.09 7.56 19.86 14.27
    Total Revenues 43,764.34 21,060.85 49,983.74 33,370.44 30,343.36
    Costs 34,631.90 14,554.04 34,388.04 23,702.24 22,791.05
    Selling And Administrative Expenses 1,190.41 1,016.02 2,297.36 2,079.91 1,713.10
    Total Cost And Expenses 35,822.31 15,570.07 36,685.40 25,782.15 24,504.15
    EBITDA 12,223.62 8,123.50 20,098.55 13,347.99 12,482.05
    Depre. & Amor. 2,487.53 2,445.82 4,988.95 3,431.38 2,433.92
    EBIT 9,736.10 5,677.68 15,109.61 9,916.60 10,048.13
    Net Profit : Owners Of The Parent 4,925.29 3,038.69 7,670.30 4,282.11 4,886.56
    EPS (B.) 0.42 0.26 0.65 0.39 2.29
    more
    Statement of Cash Flow (MB.) 6M/2022 
    (01/01/22 
    -30/06/22)     		 6M/2021 
    (01/01/21 
    -30/06/21)     		 2021 
    (01/01/21 
    -31/12/21)     		 2020 
    (01/01/20 
    -31/12/20)     		 2019 
    (01/01/19 
    -31/12/19) 
    Accounting Type Consolidate Consolidate Consolidate Consolidate Consolidate
    Operating Cash Flow 6,726.21 6,707.53 14,014.71 10,578.78 8,048.44
    Investing Cash Flow -15,989.36 -18,592.09 -78,206.25 -70,410.16 -12,572.65
    Financing Cash Flow 6,226.44 11,018.42 68,128.14 63,100.59 2,220.54
    Net Cash Flow -3,036.72 -866.14 3,936.60 3,269.20 -2,303.67
    more
    Annualized: ROE, ROA
    Ratios 6M/2022  6M/2021  2021  2020 
    Current Ratio (X) 0.84 0.71 1.11 1.02
    ROE (%) 11.06 12.46 9.55 8.36
    ROA (%) 5.83 5.61 4.97 5.22
    D/E (X) 2.28 2.41 2.37 2.41
    Total Asset Turnover (X) 0.22 0.18 0.16 0.18
    Gross Profit Margin (%) 20.63 28.22 27.55 27.80
    EBIT Margin (%) 22.25 26.96 30.23 29.72
    Net Profit Margin (%) 13.27 17.21 18.34 18.41

    Information only PP, PO, XR and XD
    Capital Movement (Last 3 Year)
    Date CA Type Changed paid up share Paid up share Par
    18 Sep 2020 XR 1,066,649,998 11,733,149,998 1.00

    Growth Rate (%) 6M/2022  6M/2021  2021  2020 
    Sales Growth 115.18 29.64 44.60 9.28
    COGs Growth 137.95 22.09 45.08 4.00
    Total Revenue Growth 107.80 33.38 49.78 9.98
    Total Expense Growth 130.07 22.66 42.29 5.22
    Net Profit Growth 62.09 107.05 79.12 -12.37

    Annualized
    Cash Cycle 6M/2022  6M/2021  2021  2020 
    A/R Turnover (Times) 6.09 5.52 5.97 5.69
    Avg. Collection Period (Days) 59.94 66.15 61.15 64.17
    Inventory Turnover (Times) 34.94 43.32 42.10 97.16
    Avg. Inventory Period (Days) 10.45 8.43 8.67 3.76
    A/P Turnover (Times) 5.22 5.34 3.31 3.24
    Avg. Payment Period (Days) 69.91 68.40 110.31 112.78
    Cash Cycle (Days) 0.48 6.18 -40.49 -44.85


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    Only Preferred Share and Warrants
    Other Securities
    Securities Name -

    Remark - Calculated from adjusted price
      - Presented and calculated from the consolidated statement and displayed as cumulative quarterly statement by fiscal year (Company statement will be presented and calculated incase consolidated statement is not available.)
      - The information is quarterly updated within 7 business days after the new financial statement is submitted.
      -
         		 Information on the financial statements is presented according to the information that the listed companies submit on that period. The investors should study additional information from the companies' financial statements since some companies may restate the comparing financial statements on the latest financial statements.
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