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11 Mar 2022 18:15:00
SET News :Thai listed companies report profit at THB 986 billion in 2021 with business back to normal
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                                                                      SET News 17/2022
                                                            March 11, 2022

Thai listed companies report profit at THB 986 billion in 2021 with business 
back to normal

-Total sales up 23.1% to THB 13.13 trillion in 2021
-Net profit up 79.9% to THB 985.70 billion
-Profitability index also returned to the pre-COVID-19 level

BANGKOK, March 11, 2022 - Companies listed on The Stock Exchange of Thailand 
(SET) reported considerable sales growth in 2021, resulting from higher
commodity prices and satisfactory adaptation to COVID-19 situation. The
profitability index has also returned to its pre-COVID-19 level.

SET Senior Executive Vice President Manpong Senanarong said that 757 listed 
companies, representing 97.1 percent of total 780 listed companies on SET and
Market for Alternative Investment (mai)  (excluding property funds,
infrastructure funds and companies with non-compliance or NC sign) submitted
their yearly financial performances ending December 31, 2021. The reports showed
that 592 companies recorded in net profit, accounting for 78.1 percent of the
listed companies that submitted their financial statements.

SET-listed companies recorded total sales worth THB 13.13 trillion (approx. USD 
393.35 billion) or a 23.1 percent rise year-on-year, with core operating profit
of THB 1.56 trillion or a 68.3 percent rise, and net profit of THB 985.70
billion, up 79.9 percent. The operating profit margin and the net profit margin
were at 11.9 percent and 7.5 percent respectively, higher than the same period
in the previous year. Regarding Thai listed companies' financial positions at
end-2021 (excluding those in the Financials industry group), their
debt-to-equity ratio was at 1.54 times, unchanged from the ratio at end-2020.

Compared with performances in 2019 - the year before the COVID-19 pandemic, 
listed companies delivered the improved financial performances in 2021 with
increases in sales, core operating profit and net profit, while their profit
margins bounced back to the similar level to 2019.

Yearly performance        2019        2020        2021        2021 compared with 2019        2021 compared 
with 2020
Sales (mln)            11,935,110     10,671,187     13,131,858     10.0%                 23.1%
Core operating profit (mln)    1,083,944     925,296     1,557,123     43.7%                68.3%
Net profit (mln)        880,150     547,854     985,699     12.0%                79.9%
Core operating profit margin     9.08%        8.67%        11.86%        
Net profit margin        7.37%        5.13%        7.51%        

"In 2021, there were three main factors behind the growth. Firstly, the higher 
commodity prices in consistent with the rising oil prices, business adaptation
to the new normal to cope well with the COVID-19 spread and the easing COVID-19
measures. Consequently listed companies had higher core operating profit,
particularly those engaged in commodity-related products such as energy,
petrochemicals, steel and transportation (waterway); healthcare business and
medicine & related

products such as rubber gloves; as well as the fast-recovering Industrials 
Industry Group including electronic components, industrial materials,
automotive," added Manpong.

Companies listed on Market for Alternative Investment (mai) posted total sales 
in 2021 at THB 171.24 billion or a 13.3 percent increase, operating profit at
THB 10.76 billion or a 38.9 percent rise, and net profit at THB 8.44 billion or
a whopping 273.6 percent rise.

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