Good Corporate Governance Rating

Excellent

Srithai Superware Pcl. attaches great importance to the disclosure of information with accuracy, completeness and in a timely manner. Such information is disclosed in accordance with the situation relating to financial information (such as financial circumstances, and performance) as well as non-financial information (such as shareholdings structure, Company governance, and other business-related information), in order to benefit all shareholders and outside persons. The Investor Relations Unit is assigned to be responsible for providing and disclosing such up-to-date information with accuracy and completeness, as well as for providing easy access via all communications channels arranged by the Company. Hence, investors and outsiders can effectively contact the Investor Relations Unit to inquire about such information in a convenient and speedy manner.

Stock Price

Last Updated : 02 Jun 2020 16:38

SITHAI (THB)

0.75

Change(% Change)

-0.05(-6.25%)

Volume (Shares)

5,166,400

Bid Price / Volume (Shares)

0.74 / 132,700

Day's Range

0.75 - 0.79

Open

0.79

Prior

0.80

52 Weeks' Range

0.44 - 1.13

Summary of Operating Results of the Group

The summary of operating result for 2019 decreased from 2018.Sales of Baht 8,846 million, a decrease by Baht 716 million or 7.5% YoY. This was mainly due to a drop in sales for household and industrial products of domestic operations, resulting from domestic economic slowdown, delayed investment and spending by private sector, intense market competition, prolonged trade war as well as the appreciation of Thai Baht. Nevertheless, overseas operations in Vietnam showed decent result with growing profit, whereas operation in India has grown continually and started to deliver profit for the Group

Gross profit of Baht 764 million, decreased by Baht 379 million or 33.2% YoY with gross profit margin of 8.6%, decreased from 12.0% in 2018. Decrease in gross profit resulted from the decrease in sales following the economic slowdown, a stronger Thai Baht affecting foreign orders, and the deep discount offerings to clear aging inventories. While the overall production costs and selling and administrative expenses increased due to low utilization of production capacity, annual wage adjustment, the effect of the compensation adjustment under new labour law, severance pay, and substantial loss from impairment of fixed assets. A large number of non-recurring adjustments this year contributed to the Group’s substantial operating loss of Baht 190 million, representing operating loss margin of 2.1% compared with operating profit of Baht 125 million (operating profit margin of 1.3%) in 2018.

Earnings before interest, tax, depreciation and amortization (“EBITDA”) of Baht 623 million (EBITDA margin 7.0%), decreased by Baht 374 million or 37.5% YoY. As such, net loss of 2019 was Baht 212 million with a loss attributable to the equity holders of the Company being Baht 215 million. This represents a Loss Per Share of Baht 0.08, a decrease from an Earning Per Share of Baht 0.03 YoY. See the document

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