Listed companies on The Stock Exchange of Thailand (SET) have reported record-high annual total profits for 2010 of THB614.29 billion (approx. USD 20.15 billion), a 32.42% year-on-year (y-o-y) rise from THB463.90 billion (approx. USD15.22 billion). Last year’s total sales were THB7.33 trillion (approx. USD240.48 billion), or a 16.87% y-o-y increase. The top-3 industry groups with the highest profits were, in declining sequence, Resources, Financials and Property & Construction, with PTT, PTTEP, SCC, BANPU and BBL as the top-5 companies with the highest net profit, in declining sequence.
A total of 463 companies, or 91.68% of 505 SET-listed firms (including 30 property funds), have reported their 2010 earnings, as of December 31, 2010. All industry groups recorded an increase in net profits, with combined 2010 figures of THB614.29 billion (approx. USD20.15 billion), vs. THB463.90 billion (approx. USD15.22 billion) in 2009, or a 32.42% y-o-y increase. Their total sales were THB7.33 trillion (approx. USD240.48 billion), or a 16.87% y-o-y rise. In the fourth quarter of last year alone, all listed companies reported total net profits of THB165.81 billion (approx. USD5.44 billion), which represented a 41.86% y-o-y increase, while their total sales were THB1.94 trillion (approx. USD 63.65 billion), or a 12.48% y-o-y rise, revealed SET President Charamporn Jotikasthira.
Of all SET-listed companies which have filed their 2010 financial reports, 413 of them, or 86.40%, recorded net profits.
“Total net profits from listed firms in 2010 were a record high, mainly due to high sales in all industry groups. Moreover, since 2008, even though there was an on-going financial crisis, listed companies’ net profits have grown continuously, with the compound annual growth rate (CAGR) for 2008-2010 reaching 40.61% and the CAGR for 2001-2010 being a still-impressive 17.14% . All of this has shown that the Thai economy has recovered rapidly and reflects the strong economic fundamentals as well as the potential of listed Thai companies”, said Mr. Charamporn.
Companies in the SET100 Index had total net profits in 2010 of THB521.21 billion (approx. USD17.10 billion), or 84.40% of all listed companies’ net profits and a 26.92% y-o-y rise. Their total sales also increased 17.14% and gains from foreign exchange surged 133.05%, while their interest burden eased 1.08% and cost of sales went up 18.45%. As a result, their gross profit margin fell slightly from 19.35% to 18.45%.
In 2010, top-5 listed companies with the highest net profit were PTT PCL (PTT), PTT Exploration and Production PCL (PTTEP), The Siam Cement PCL (SCC), Banpu PCL (BANPU) and Bangkok Bank PCL (BBL).
At the same time, the top-5 industry groups with the highest net profit were, in descending order, Resources, Financials, Property & Construction, Technology and Services, while the top-5 sectors with the highest net profit were, in descending order Energy & Utilities, Banking, Construction Materials, Information & Communication Technology and Property Development. All these sectors have posted a combined net profit of THB434.35 billion (approx. USD 14.25 billion), or 70.71% of total net profits.