2023-11-28 02:00:53
Mr. Siwit Anantakul Assistant Vice President Investor Relations Department Sino-Thai Engineering and Construction Public Company Limited or STEC Revealing the overall performance of the company at the event Opportunity Day Organized by the Stock Exchange of Thailand (SET) on 27 Nov. ’23 that the trend for the 4th quarter of 2023 is normally in the delivery phase. It is seen that construction income grew better than in the 3rd quarter of 2023, but costs also increased.
At present, there is a large backlog of 100,111 million baht, coming from both the public and private sectors. With many potential projects The company invests in other businesses such as concession projects (yellow and pink lines, M6 and M81 motorways, U-Tapao) and energy and data centers that can generate regular income. The majority of income will still come from the construction business.
For the mass transit system project, the total contract value is 260,319 million baht. The company currently has the Western Orange Line project in the bidding process. There is a contract value of 85,200 million baht and the Brown Line has a contract value of 41,720 million baht, which is expected to be presented to the Cabinet. Around the 1st quarter of 2024, the Thammasat-Mahachai red line, worth 6,468 million baht, and Salaya-Hua Mak, worth 15,364 million baht, are expected to open for bidding within the 1st quarter of 2024.
The company also has a double-track train. Khon Kaen – Nong Khai section, contract value 29,748 million baht, has already been approved by the Cabinet. It is expected that bidding will be opened within the first quarter of 2024. As for Jira-Ubon Ratchathani Junction, the contract value of 37,527 million baht is still being proposed with the Minister of Transport. It is another project that targets the motorway, especially the M5-M8-M9, preparing to offer. to the Cabinet approximately half year 2024
N2 Expressway, Prasert Manukit – Outer Ring Road section, contract value 16,960 million baht, expected to be presented to the Cabinet. Within the 1st quarter of 2024, following N2 finishes bidding, N1, Srirat Ngamwongwan – Prasertmanukit, with a contract value of 36,000 million baht, will follow because they are connected.
In addition, the company chooses to invest in the recurring income business, a business that creates income and stability for the company. that will be able to drive strong operating results The company sets its 2024 revenue target at 30,000 million baht.
Incidentally, the company reported operating results for the 3rd quarter of 2023 with a net profit of 129.51 million baht, a decrease of 6.36% compared to the same period last year with a net profit of 138.30 million baht. Total income was 7,885 million baht, an increase of 5.50%. Compared to the same period last year, 7,451 million baht, mostly from motorway groups and various power plants.
While the operating results for the first 9 months of 2023 had a net profit of 454.14 million baht, a decrease of 16.39% compared to the same period last year with a net profit of 543.17 million baht.
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