Stocks in the news (aav, banpu, bem, ea, ivl, jwd, maco, ptg, sappe, tacc, wha) 13.11.17
AAV
AAV’s 3Q17 earnings dropped by 34% to Bt260.9mn on an increase in energy cost and a reduction in average fare by 7% in order to compete. It declared a dividend of Bt0.15/share. (Khao Hoon, 13/11/17)
Comment: Looks like a lot of the airlines in Thailand will have weak 3Q17 #’s because of the sudden rise in oil price during the quarter
BANPU
BANPU reported 3Q17 earnings of Bt2.025bn, growing by 2792% on an uptrend in all of its businesses and an increase in coal price. (Khao Hoon, 13/11/17)
Comment: Any time a Thai company buys something in Indonesia always raises my eyebrows and from the looks of that mine it looks like they “overpaid”
BEM
BEM 3Q17 earnings made a new high of Bt940mn, up by 16.3% from an increase in revenue from both expressway and subway. Its 9M17 earnings are reported at Bt2.36bn, increasing by 17.4%. (Khao Hoon, 13/11/17)
Comment: And theoretically they should show continually increasing earnings as more stations come online.
EA
EA continued to grow with 3Q17 earnings of Bt976mn, growing by 35% from last year after booking revenue from its 126MW wind power plant. It believes 4Q17 will continue to grow as energy and biodiesel businesses are on an uptrend. (Khao Hoon, 13/11/17)
IVL
IVL announced it will continue to take over new factories. It is currently working on a new deal in 4Q17. It believes 2018 revenue will grow by 20% and EBITDA will increase by 20% on a steady widening in spread from production cuts in the US and Europe. (Thun Hoon, 13/11/17)
JWD
JWD’s earnings turned positive in 3Q17. It reported earnings of Bt56mn in 3Q17 and 9M17 earnings of Bt146mn. It believes 4Q17 earnings will continue to grow and it is going to book revenue from international logistics. (Khao Hoon, 13/11/17)
MACO
MACO is going to budget Bt200mn to expand its advertising media. It plans to increase LED display screens to 29 points in 2018 from 21 in 2017. It believes 4Q17 earnings will continue to grow on a more positive outlook for the advertising industry and believes 2018 revenue will grow by 20% as targeted. (Thun Hoon, 13/11/17)
PTG
PTG reported 3Q17 net profit of Bt157mn, increasing by 46% from 3Q16 on an increase in sales quantity to 799mn liter. It maintains its target to expand to 1,800 gas stations this year. (Khao Hoon, 13/11/17)
Comment: Still a compounding machine, 3Q is typically the worst for them given that the majority of their stations are upcountry.
SAPPE
SAPPE reported 3Q17 earnings of Bt111.17mn, growing by 19.36% with revenue of Bt738mn, increasing 11% in tandem with the growth in world exports. (Khao Hoon, 13/11/17)
TACC
TACC 9M17 profit grew by 8% to Bt79mn and it believes 2017 revenue will grow by 5-8% from a good response to its new product launches in 7-Eleven. It also expects revenue proportion from overseas will reach 35% in 2020 as it will distribute new products to penetrate the Dubai market. (Khao Hoon, 13/11/17)
WHA
WHA 3Q17 earnings surged 1,088% to Bt505.8mn in tandem with the increase in share of profit from its joint venture. (Khao Hoon, 13/11/17)
Comment: A lot of the profit has come from WHAUP and you do have to be a bit careful b/c a fair amount of WHAUP’s profit has come from FX gain’s.