Total Revenue & GPM
9M/2025
5,922.7
Million Baht
+12.6% YoY
Gross Profit Margin
(%)
(%)
Total Revenue
(Million Baht)
(Million Baht)
Net Profit & NPM
9M/2025
309.8
Million Baht
+27.6% YoY
Net Profit Margin
(%)
(%)
Net Profit
(Million Baht)
(Million Baht)
Total Assets
Q3/2025
6,111.8
Million Baht
Total Liabilities
Q3/2025
3,085.2
Million Baht
Equity
Q3/2025
3,026.6
Million Baht
(Unit: Million Baht)
(Unit : Million Baht)
| Income Statement | 2020 | 2021 | 2022 | 2023 | 2024 | 9M/2024 | 9M/2025 | YoY |
|---|---|---|---|---|---|---|---|---|
| (Unit : Million Baht) | ||||||||
| Sales | 4,930.5 | 5,242.7 | 6,156.9 | 7,157.0 | 7,743.4 | 5,226.9 | 5,900.9 | +12.9% |
| Other Income | 19.5 | 22.3 | 75.8 | 47.7 | 46.9 | 33.4 | 21.9 | -34.4% |
| Total Revenue | 4,950.0 | 5,265.0 | 6,232.7 | 7,204.7 | 7,790.3 | 5,260.3 | 5,922.7 | +12.6% |
| Cost of Sales | 3,172.9 | 3,375.0 | 4,390.9 | 5,010.2 | 5,350.9 | 3,613.3 | 4,114.1 | +13.9% |
| Selling and Distribution Expenses | 867.6 | 892.3 | 975.6 | 1,136.8 | 1,256.3 | 836.2 | 942.4 | +12.7% |
| Administrative Expenses | 502.1 | 559.8 | 499.0 | 591.5 | 597.6 | 441.0 | 443.3 | +0.5% |
| EBITDA | 533.2 | 605.6 | 551.9 | 647.4 | 777.0 | 504.0 | 596.4 | +18.3% |
| Depreciation and Amortization | 167.4 | 175.9 | 184.7 | 181.3 | 212.7 | 155.2 | 173.4 | +11.7% |
| Operating Profit (EBIT) | 365.8 | 429.6 | 367.2 | 466.2 | 564.3 | 348.7 | 423.0 | +21.3% |
| Net Profit | 244.2 | 303.4 | 241.1 | 305.9 | 405.8 | 242.9 | 309.8 | +27.6% |
(Unit : Million Baht)
| Statement of Financial Position | 2020 | 2021 | 2022 | 2023 | 2024 | Q3/2024 | Q3/2025 | YoY |
|---|---|---|---|---|---|---|---|---|
| (Unit : Million Baht) | ||||||||
| Total Assets | 4,241.1 | 4,601.8 | 5,539.6 | 5,872.0 | 5,993.8 | 5,733.9 | 6,111.8 | +6.6% |
| Total Liabilities | 2,754.5 | 3,111.0 | 4,356.1 | 3,178.1 | 3,052.4 | 2,954.1 | 3,085.2 | +4.4% |
| Paid-up Capital | 330.0 | 390.0 | 390.0 | 545.0 | 545.0 | 545.0 | 545.0 | +0.0% |
| Equity attributable to owners of the Company | 1,486.6 | 1,490.8 | 1,183.5 | 2,693.9 | 2,941.4 | 2,779.9 | 3,026.6 | +8.9% |
| Liquidity Ratios | 2020 | 2021 | 2022 | 2023 | 2024 | Q3/2024 | Q3/2025 | YoY |
|---|---|---|---|---|---|---|---|---|
| Current Ratio (x) | 1.0 | 1.0 | 0.9 | 1.1 | 1.1 | 1.1 | 1.2 | +0.1x |
| Quick Ratio (x) | 0.6 | 0.6 | 0.4 | 0.7 | 0.7 | 0.5 | 0.6 | +0.1x |
| Profitabilty Ratios | 2020 | 2021 | 2022 | 2023 | 2024 | 9M/2024 | 9M/2025 | YoY |
|---|---|---|---|---|---|---|---|---|
| Gross Profit Margin (%) | 35.6% | 35.6% | 28.7% | 30.0% | 30.9% | 30.9% | 30.3% | -0.6% |
| EBIT Margin (%) | 7.4% | 8.2% | 5.9% | 6.5% | 7.2% | 6.6% | 7.1% | +0.5% |
| Net Profit Margin (%) | 4.9% | 5.8% | 3.9% | 4.2% | 5.2% | 4.6% | 5.2% | +0.6% |
| EBITDA Margin (%) | 10.8% | 11.5% | 8.9% | 9.0% | 10.0% | 9.6% | 10.1% | +0.5% |
| ROA (%) | 8.4% | 9.7% | 7.2% | 8.2% | 9.5% | 9.5% | 10.8% | +1.3% |
| ROE (%) | 17.4% | 20.4% | 18.0% | 15.8% | 14.4% | 14.5% | 16.3% | +1.8% |
| Leverage Ratios | 2020 | 2021 | 2022 | 2023 | 2024 | Q3/2024 | Q3/2025 | YoY |
|---|---|---|---|---|---|---|---|---|
| D/E (x) | 1.9 | 2.1 | 3.7 | 1.2 | 1.0 | 1.1 | 1.0 | -0.0x |
| IBD/E (x) | 1.2 | 1.2 | 2.5 | 0.7 | 0.6 | 0.6 | 0.5 | -0.1x |
| Share Information | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Par value (Baht) | - | - | - | 1.0 | 1.0 |
| Number of listed shares (mn shares) 1/ | - | - | - | 545.0 | 545.0 |
| Earnings per share (Baht)1/ | - | - | - | 0.56 | 0.74 |
| Dividend per share (Baht)1/ | - | - | - | 0.30 | 0.41 |
| Dividend Payout Ratio (%) 1/ | - | - | - | 53.4% | 55.1% |
| Dividend Policy | Not less than 40% of net profits based on our separate financial statements after deducting corporate income tax and any reserve funds as required by law and as determined by us in each year. | ||||
1/ The Company was listed on the Stock Exhchange of Thailand on 3 August 2023 and adjusted the average number of listed shares in 2023 to 545,000,000 shares
Note: Numbers may not align with the calculation by one decimal point due to rounding of figures.