AU
AU reported 2017 earnings of Bt129mn, growing by 30.47% with net margin improving from 16.23% to 17.53% thanks to higher sales and effective cost management. It announced a dividend of Bt0.15/share, XD on May 7. (Khao Hoon, 02/03/18)
Comment: Earnings of THB 129mn, a market cap of THB 10.6bn, ok, so perhaps they can double earnings in the next 3 years to THB 250 mn, but would you pay for that at today’s price?

BANPU
BANPU believes margin will remain at 14-15% as coal prices remain high. It projects sales volume to rise to 44.8mn tons this year. It plans to invest more in the gas business in March and has budgeted US$70mn to invest in energy innovation and green energy business, aiming to raise production capacity of solar rooftop to 300 MW within three years. It is planning on an acquisition or a joint venture deal, which it expects to finalize in 2Q18. (Thun Hoon, 02/03/18)

BCPG
BCPG is negotiating an M&A for a power plant in Asia with production capacity of 150 MW, which it expects to finalize this year. It says its total capacity for electricity will rise significantly from now at 600 MW if the deal goes through. It targets 2018 revenue to grow by 20% backed by higher electricity sales. (Thun Hoon, 02/03/18)
Comment: Still on a mission to expand

BEM
BEM reported 2017 net profit of Bt3.1bn, growing 20% on the full-year booking of the Sri Rat expressway and Purple Line skytrain. (Khao Hoon, 02/03/18)

BR
BR reported 2017 earnings of Bt553mn, growing 160% thanks to a substantial rise in sales. It announced a dividend of Bt0.4/share, XD on March 14. It has budgeted Bt1.3bn to renovate its office and improve production lines. (Khao Hoon, 02/03/18)
Comment: Surprised a lot of analysts with this.

ERW
ERW reported 2017 earnings of Bt506mn, growth of 38%. It announced a dividend of Bt0.09/share, XD on March 12 with payment on May 25. It targets 10% hotel revenue growth this year and plans to open nine hotels with 1,157 rooms. It also targets RevPar to grow by 4%. (Khao Hoon, 02/03/18)
Comment: No surprises here, but I would say wait for a domestic crisis that would led to its share price declining by 30-50% before touching it again, think this ridiculous? Just have a look at the history of the past 10 years.

KOOL
KOOL expects 2018 earnings will turn positive and targets 2018 revenue to grow by 25%, as it will launch new products this year and expand its online selling channel. It has budgeted Bt30mn to market its brand. It plans to expand to Vietnam, Myanmar and Cambodia. (Thun Hoon, 02/03/18)

ORI
ORI targets 1Q18 presales at Bt5bn from the launch of three projects worth Bt6bn. It believes presales for the whole year will reach its Bt20bn target. It currently has backlog of Bt27-28bn, of which 80% will be booked as revenue this year. It is researching raising funds via an initial coin offering (ICO), which it expects to finalize soon. (Thun Hoon, 02/03/18)

SAMART
SAMART reported a 2017 net loss of Bt948mn from the booking of reserve for doubtful accounts after it shut down its mobile phone business, SIM. It plans for SDC to generate most of its revenue rather than SIM and believes earnings will turn around. It announced a dividend of Bt0.1/share, XD on March 26 and it will issue a free warrant in the proportion of 3 shares for one warrant, XW on May 8. (Khao Hoon, 02/03/18)
Comment: It’s been a difficult few years for this group with only SAMTEL showing 1/2 decent #’s