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27 May 2022 18:36:00
SET News :Thai listed firms post strong sales of THB 4 trillion in Q1/2022 due to ease of COVID-19 curbs
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                                                                      SET News 39/2022
                                                              May 27, 2022

Thai listed firms post strong sales of THB 4 trillion in Q1/2022 due to ease of 
COVID-19 curbs

- SET-listed companies fared well in Q1/2022, particularly Services industry 
- Q1 total sales up 37.5 pct y-o-y to THB 4.01 trn
- Core operating profit up 27.6 pct y-o-y to THB 478.79 bln

BANGKOK, May 27, 2022 - Stock Exchange of Thailand (SET) Senior Executive Vice 
President - Head of Issuer & Listing Division Manpong Senanarong said that 764
companies or 97.4 percent of 784 companies listed on SET and mai (excluding
property funds, infrastructure funds and non-compliance or NC) reported their
performance during the first quarter of 2022, ending March 31, 2022. A total of
571 companies reported net profits, representing 74.7 percent of the SET and
mai-listed companies that submitted their financial statements.

In the January-to-March 2022 versus a year ago, SET-listed companies' combined 
sales surged 37.5 percent to THB 4.01 trillion (approx. USD 117.22 billion)
while production costs rose 42.2 percent to THB 3.11 trillion. However, core
operating profits increased 27.6 percent to THB 478.79 billion. The higher
production costs could be partly attributed to the rising oil and commodities
prices, and the COVID-19 insurance claims. Their aggregate net profit dropped
1.7 percent to THB 246.85 billion, caused  by extra items such as losses from
derivatives contracts.
If excluding the Insurance sector, listed companies' net profits grew 11.1 
percent year-on-year to THB 275.47 billion.

Listed companies' operating profit margin and net profit margin were 11.93 
percent and 6.15 percent respectively, lower than the same period a year
earlier. Regarding financial status, as of March 31, 2022, Thai listed companies
(excluding those in the Financials industry group) had debt-to-equity ratio at
1.61 times, up from 1.51 times recorded a year earlier.

Quarterly performance  (THB million)    Q1/2021    Q4/2021    Q1/2022    % y-o-y    % q-o-q
Sales    2,918,432    3,769,605    4,011,949    37.5    6.4
Production costs    2,186,137    2,964,646    3,108,281    42.2    4.8
Core operating profit     375,142    350,287    478,793    27.6    36.7
Net profit    251,198    249,241    246,852    -1.7    -1.0
Core operating profit margin (%)    12.85    9.29    11.93        
Net profit margin (%)    8.61    6.61    6.15        

"The easing of COVID-19 measures in Thailand and other countries came as a boon 
to Services industry group such as Health Care Services, Commerce,
Transportation & Logistics, and Tourism & Leisure sectors. Although the surge in
oil prices boosted sales for Energy & Utilities, and Petrochemicals & Chemicals
sectors, it also affected costs of production in other listed companies,
narrowing their overall profit margin, as a result. In the foreseeable future,
they may face the increasing challenge of business operation environment, not
only from the surging oil and commodities price but also inflation and interest
rate hike," added Manpong.

As for the performance of companies listed on Market for Alternative Investment 
(mai) in the first quarter of 2022, combined sales amounted to THB 48.38
billion, or up 20.4 percent year-on-year. Their cost of sales rose 25.6 percent
from the same period last year to THB 38.44 billion, and operating profits fell
7.2 percent to THB 2.50 billion.

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