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 : 29 Mar 2024 12:23

SITHAI (THB)

1.19

Change(% Change)

-0.01(-0.83%)

Volume (Shares)

23,500

Bid Price / Volume (Shares)

1.18 / 84,600

Day's Range

1.18 - 1.20

Open

1.20

Prior

1.20

52 Weeks' Range

1.07 - 1.54

Summary of Operating Results of the Group

Compared with Q4/2022, the Group generated revenue from sales of Baht 2,083 million in Q4/2023, a decrease by Baht 300 million or 12.6% YoY. The decline was attributed primarily to the industrial products, both domestic and overseas operations, which were mainly affected by the economic slowdown, leading to weaker purchasing power and consumers’ consumption. In addition, the decrease was influenced by lower product selling prices adjusted in line with the reduction in main raw material prices. Despite the drop in sales, gross profit margin was maintained, with an increase from 14.1% to 15.3% and EBITDA margin increased from 10.7% to 14.0%. Net profit attributable to equity holders of the Company increased by 84.2% or Baht 48 million to Baht 105 million.

Compared with Q3/2023, the Group experienced a slight increase in sales by Baht 32 million, or 1.6%, primarily driven by the Household products of the domestic operation. Gross profit margin adjusted favorably from 14.3% to 15.3% and EBITDA margin increased from 13.3% to 14.0%. Net profit attributable to equity holders of the Company increased by 10.5% or Baht 10 million.

For the full fiscal year 2023, the Group reported sales of Baht 8,550 million, reflecting a decrease of Baht 821 million or 8.8% compared with the previous year. The drop in sales was attributed to both industrial and household products of domestic and overseas operations, which were affected by various factors including weak economic conditions, interest rates and high energy costs lowering consumers’ purchasing power, while overseas operations faced impacts and uncertainties related to the Russia-Ukraine conflict, interest rates and inflation rates. EBITDA margin for the year 2023 increased to 13.0% from 12.1% YoY. In addition, the Company recorded extraordinary items in Q4/2023 totaling Baht 29 million, which primarily derived from gain from sales of investment properties net of relevant taxes and expenses of Baht 46 million and provision for impairment of fixed assets of Baht 17 million. Net profit attributable to the equity holders of the Company for the year was Baht 372 million, representing an increase by Baht 22 million from Baht 350 million or a 6.3% increase. As a result, earnings per share for the Company’s shareholders increased from 0.13 Baht to 0.14 Baht.

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