2023-04-30 09:30:11
in 2022 “Srinanaporn Marketing Public Company Limited or SNNP” has a lot of supporting factors together with a marketing plan Made the company successful in recognizing profits and income “New High” from the company’s operations in 2022, resulting in continued into 2023, where the company continues to focus on creating growth. mainly from ASEAN in the Greater Mekong Region (CLMV). However, the company plans to build a factory in Indonesia. Which is currently in the process of studying while “Factory in Vietnam” is helping push the company to have a total production capacity of 11,000 pieces per year. and has a lower cost than in Thailand
Mr.Wiroj Wachiradechkul Senior Deputy Managing Director Domestic Business Division SNNP said that the results of the first quarter of 2023 continued to grow according to the company’s target. reflect domestic sales and abroad to grow more than the first quarter of 2022, being the driving force for the performance of the year 2023 to grow by at least 10% from “Flagship Product” Of the companies that rank No. 1 in the Food & Beverage category are Bento holding 74% of the market share and Jele holding 77% of the market share, etc.
SNNP counters low season
Dao Securities It is estimated that in the first quarter of 2023, SNNP’s profit will reach 158 million baht, growing 50% compared to the same period in 2022 (YoY) from the total revenue increase of 30% YoY due to domestic revenue that grew 26%. and foreign revenues that grew by 45%, resulting in the full year 2023, the normalized profit was estimated at 722 million baht, and the year 2024, which was seen as the golden year of SNNP, expected normal profit at 914 million baht, causing recommend “Buy” SNNP price 30 baht
wade out products “New flavor”
while TISCO Securities recommends “Buy” SNNP price 30 baht SNNP expects a net profit of 162 million baht in the first quarter of 2023, an increase of 53% YoY, with total revenue expected to increase by 40% from the packaging adjustment. and continues to launch new products, including Jele Light Freshy with 3 new flavors, Jele Chevy with sour milk flavor and Lotus Crispy Chicken Skin, Mala Flavor
For the second quarter of 2023, profits are expected to increase continuously. from increased sales both domestically and internationally By benefiting from the recovery of the tourism sector, the development of new products and expansion of distribution channels As a result, domestic sales grew by 13% and internationally by 22%, mainly due to CLMV groups, especially Vietnam. following recognizing revenue from the expansion of a new factory totaling 3 phases
In addition, the margin rate is expected to continue to increase. from factory expansion in Vietnam and the trend of raw material costs and shipping by ship that began to decline.
Brokers Point Q1 “All Time High”
side Maybank Securities (Thailand) recommends “Buy” SNNP price 27.50 baht After estimating the first quarter of 2023 will be All Time High and increasing every quarter of this year, it is expected that the profit will be 157 million baht, or 49% YoY, as domestic sales tend to grow 24% YoY, including domestic consumption. recover and new products have been well received As a result, overseas sales will increase 56% YoY.
Moving forward to open a new production line
however Asia Plus Securities recommends “Buy” SNNP price 27 baht The latter sees that although it is not a peak or high season, but it is expected that in the first quarter of 2023 there will be a profit of 155 million baht, an increase of 47% YoY due to revenue. and higher margins According to the proportion of foreign sales, therefore, the normalized profit for the year 2023 is estimated at 754 million baht, as it tends to continue to grow every quarter from the positive results of the season in the 2nd and 4th quarters, together with the margin that will Move higher following the opening of new production lines in Vietnam.
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