.jpg)
- 2023 total sales up 2.1% to THB 200 bln
- Yearly operating profits down 10.2% to THB12.19 bln
- Agro & Food Industry, Property & Construction and Financials Industry Groups saw higher growth in sales and net profits
Market for Alternative Investment (mai)-listed companies reported a 2.1 percent year-on-year increase in the combined sales to THB 200.18 billion (approx. USD 5.75 billion) in 2023. However, a 0.5 percent rise in 2023 cost of goods sold to THB 147.99 billion and a 13.4 percent increase in selling, general and administrative expense (SG&A) erode operating profits, decreasing 10.2 percent from a year earlier. Agro & Food Industry, Property & Construction and Financials were the three industry groups recorded growth in both sales and profits.
mai President Prapan Charoenprawatt said that 207 mai-listed companies or 96 percent of the total 215 companies (excluding those in the non-compliance or NC group and those with different accounting period close) submitted their financial reports. Of the total, 148 listed companies, accounting for 72 percent of those submitted financial statements, delivered net profits.
Despite an increase in gross profit margin (GPM) to 26.1 percent in 2023 from 24.9 percent in the previous year, their operating profit dropped by 10.2 percent to THB12.19 billion and net profit fell by 35.1 percent to THB 5.90 billion largely due to the 13.4 percent increase in SG&A expense.
"In 2023, most of listed companies saw the higher sales, in the wake of the country’s reopening but the rise in SG&A expense bumped up by the rising economic activities, coupled with higher financial costs lowered listed companies’ profitability. Nevertheless, three industry groups, namely the Agro & Food Industry, the Property & construction, and the Financials continued to show growth in both sales and net profits," added Prapan.
In terms of financial position, mai-listed companies’ total assets at the end of 2023 rose 10.11 percent from the previous year to THB 339.05 billion. The overall financial structure was strengthened, with debt-to-equity ratio (D/E ratio) of 0.79 times, down from 0.81 times at the end of 2022.
As of March 7, 2024, there were 215 mai-listed companies. mai index closed at 409.80 points, with the total market capitalization of THB 414.24 billion and average daily trading value of THB 2.02 billion.
