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MAI-listed companies continue to recover in H2/2020
BANGKOK, March 12, 2021 – Companies listed on Market for Alternative Investment
(mai) reported combined sales of THB 166.88 billion (approx. USD 5.42 billion)
in 2020, down 7.2 percent from a year earlier.
Their core operating profit rose 8.3 percent to THB 6.44 billion in 2020, while aggregate net profit declined
63.0 percent to THB 3.37 billion due to COVID-19 pandemic impact. However, the recovery gathered steam in H2/2020.
- – Operating profit up 8.3 pct to THB 6.44 billion
- – Total sales down 7.2 pct to THB 166.88 billion
- – Earnings of mai-listed firms continued to rebound in Q4/2020
mai President Prapan Charoenprawatt said that 169 mai-listed companies,
representing 95 percent of the total 177 firms (excluding those in the
non-compliance group or NC, those using different accounting period, and those
not submitting the report in time), submitted the 2020 financial reports, ended
December 31, 2020. A total of 114 companies, accounting for 67 percent of those
submitted the yearly earnings, showed net profits.
mai-listed companies’ combined sales decreased to THB 166.88 billion, or 7.2
percent from the previous year. However, the improved cost control contributed
to a 7.4 percent drop in cost to THB 130.01 billion, triggering gross profit
margin to edge higher to 22.1 percent from 21.9 percent. Core operating profit
rose 8.3 percent to THB 6.44 billion, resulting in net profit margin increase to
3.9 percent from 3.3 percent. Combined net profits declined 63.0 percent to THB
3.37 billion due to a one-off gain from investment disposal of THB3.38 billion
in 2019 recorded by a firm listed on Resources industry group. If excluding the
firm’s one-time gain, the combined net profits would fall at a slower pace of
26.8 percent (not 63.0 percent) and the net profit margin would decrease to a
mere 2.0 percent (not 4.8 percent).
“The COVID-19 outbreak affected mai-listed companies across sectors, causing
aggregate sales plunge. However, sign of recovery was detected in the second
half of 2020 following the ease of COVID-19 containment measures. In addition,
listed companies were resilient and efficient in taking actions on cost control
and expense management. As a result, their profitability was improved at a
certain level. Industry groups with higher profitability comprised Industrials,
Resources, Consumer Products, Agro & Food Industry, and Technology,” said
Prapan.
Earnings of mai-listed firms continued to rebound in Q4/2020. Combined sales
surged 10.5 percent to THB 45.25 billion. Core operating profits jumped 28.5
percent to THB 2.15 billion, while net profits declined 19.2 percent to THB 1.27
billion.
Regarding financial positions of mai-listed companies, the combined assets
increased 4.6 percent to THB 281.62 billion from the end of 2019. Funding
structure remained strong with debt-to-equity ratio inching up to 1.10 times
from 1.03 times at end-2019.
Currently, there are 177 listed companies on mai (as of March 9, 2021). mai
Index closed at 398.55 points with market capitalization of THB 283.54 billion
and average daily trading value worth THB 2.78 billion.
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