Stocks in the news (a, acap, anan, asefa, bcpg, br, fpi, global, grand, ivl, jas, lalin, lhk, mtls, pf, prin, sawad, sprc, spvi, stec, tse, tvo) 22.02.17
A
A expects 1Q17 sales to reach Bt2bn, with total sales of Bt9bn in 2017, bringing revenue of at least Bt6bn. It plans to launch eight new projects with a total value of Bt7.4bn. It has budgeted Bt1bn to buy land to develop new projects. (Thun Hoon, 22/02/17)
Comment: The company seems to be continually growing, it’s one of the most stable stock prices I have ever seen
ACAP
ACAP expects loans to hit Bt6bn this year. It plans to issue Bt4bn in debentures (Bt1bn/quarter), with the first issued in March. It is negotiating for one M&A transaction, with some conclusion in 1H17. (Kao Hoon, 22/02/17)
ANAN
ANAN targets 2017 revenue of Bt25bn, up 57%. Its backlog is Bt41.24bn of which it expects to book Bt16.5bn this year. It plans to launch 17 projects worth Bt41.8bn, which it expects to raise 2017 presales to Bt30.4bn (+21%). (Kao Hoon, 22/02/17)
Comment: Same story, nothing amazing happening, just continuing growth.
ASEFA
ASEFA announced 2016 revenue of Bt2.8bn with 39.41% net profit growth, a record high. It will pay a dividend of Bt0.32/share. It targets 2017 revenue growth of 10-15% on the back of its strong fundamentals. (Thun Hoon, 22/02/17)
BCPG
BCPG has budgeted Bt16bn to develop a power plant. It is working on 2-3 M&A power plant deals in Asia-Pacific which will expand its capacity. It expects to COD no less than 600MW by end2017. It targets 2017 EBITDA growth of 20%. (Thun Hoon, 22/02/17)
BR
BR expects to get more orders after Europe is hit by bird flu. It targets 2017 sales growth of 5-10% driven by its factory in Europe after competitors shut down. It plans to get into processed food, which will expand both revenue and margin. (Thun Hoon, 22/02/17)
Comment: This news seems to be a repeat of from 3 months ago.
FPI
FPI reported 2016 net profit of Bt285mn, up 48%, fostered by numerous orders. It expects 2017 earnings to mark a record high, brought by Bt800mn backlog. (Kao Hoon, 22/02/17)
GLOBAL
GLOBAL targets 2017 revenue growth of 10% supported by customer expansion. It has budgeted Bt2bn to open more outlets in Thailand and abroad. It plans to open a store in Cambodia with a partner. It will pay both cash and share dividend, with XD on Mar 16. (Thun Hoon, 22/02/17)
Comment: Great 4Q’s, but mainly because of accounting adjustments.
GRAND
GRAND plans to open Grand Hyatt Regency Bangkok, which is expected to increase 2018 revenue to Bt2bn. It plans to launch a mixed-use project in Rayong worth Bt4.7bn. It plans to set up an REIT by 3Q17. (Kao Hoon, 22/02/17)
Comment: Can this dog turnaround?
IVL
IVL targets 2017 revenue to grow 9-10% from 2016’s Bt260bn on the back of higher capacity from a new plant (about 9%) as well as revenue contribution from the old plant running at full capacity. It is budgeting Bt35bn for a four-year investment plan. It expects to benefit from Trump’s tax policy. (Kao Hoon, 22/02/17)
Comment: In 2016, 1/2 of their profits came from revaluing acquisitions. They don’t have this trick in 2017 so unless the spreads move in their favour I wouldn’t be surprised to see their earnings drop by at least a 1/3
JAS
JAS expects to book Bt12-14bn extra gain from selling 980,000 core km fiber optic line to JASIF via its subsidiary (TTTBB), valued at Bt50-70bn. It plans to ask board approval on Apr 27. It expects to pay an extra dividend soon . (Kao Hoon, 22/02/17)
Comment: I’ve been reading estimates of 3-4 baht/share upside from this special dividend. Then after this asset sale what will JAS have left?
LALIN
LALIN plans to open 8-10 new projects, which it expects will grow total revenue 15% to Bt3.1bn. It targets presales of Bt3.6bn. It plans to cooperate with commercial banks to implement a new strategy which it hopes will reduce the loan rejection rate from commercial banks . (Thun Hoon, 22/02/17)
LHK
LHK expects FY2016/2017 earnings to be robust. It expects net margin to reach 4-5% with 5% revenue growth. Behind this is cost control and improving production. It expects a solid performance in 4QFY16/17. (Kao Hoon, 22/02/17)
MTLS
MTLS reported 2016 revenue of Bt4.47bn with net profit of Bt1.46bn which reflects its leadership positioning in motorcycle loans and nano-finance. It targets 2017 loan growth at above 50%. It plans to open 600 branches this year which will increase revenue and net profit to a new high. Its board approved a dividend payment of Bt0.1/share. (Thun Hoon, 22/02/17)
Comment: Just incredible and the growth is still continuing, does make me wonder how much more black market loans are out there?
PF
PF targets 2020 revenue to reach Bt30bn. It expects 2017 revenue of Bt22bn with Bt4bn backlog. It plans to launch 16 projects with total value of Bt22.19bn, which will lift 2017 presales to Bt18.3bn. (Kao Hoon, 22/02/17)
Comment: They have raised equity again, whoever’s backing/financing these guys seem to have deep enough pockets
PRIN
PRIN reported 2016 profit of Bt215.9mn, surging 225.15%, supported by government stimulus. The board approved a dividend of Bt0.06/share. It plans to launch four projects worth Bt1.8bn. It targets sales of Bt3.2bn. (Thun Hoon, 22/02/17)
SAWAD
SAWAD reported 2016 net profit of Bt2bn, up 50%. It plans to hold a roadshow with 40 local and foreign institutional investors. (Kao Hoon, 22/02/17)
SPRC
SPRC targets 2017 refinery output of 165,000 barrels with 100% utilization rate. It plans to improve refinery efficiency which will push up refinery margin to US$0.25/barrel. It is budgeting US$20mn to invest in downstream businesses such as retail to diversify its income. (Thun Hoon, 22/02/17)
SPVI
SPVI will sign a Bt3.5mn contract to sell 182 iPads to Assumption School Rama ll. It plans to focus on the education segment and bring revenue from the segment to 20% within 3-5 years. It targets 2017 revenue to grow 5%, backed by opening 2-3 repair centers. (Thun Hoon, 22/02/17)
STEC/TSE
TSE and STEC are entering a JV in order to invest in a 155MW Japanese solar farm, worth Bt20bn. It expects this to provide sustainable growth. (Kao Hoon, 22/02/17)
Comment: Clever move on the part of STEC, it’s making its money from these massive infra projects and then saying “I’ve had enough dealing with the government I’m going for yield now”
TVO
TVO expects 2017 sales to grow at least 5% from last year. It expects gross margin to be above 15% on the back of lower soy pulp prices. (Thun Hoon, 22/02/17)