Thai listed firms record 9M/2009 net profits of over THB300 billion

In 9M/2009, companies listed on The Stock Exchange of Thailand (SET) posted aggregate net profits of THB 323.94 billion (approx. USD9.76 billion) and total sales of THB4.50 trillion (approx. USD135.77 billion), while Q3/2009 performance recorded an increase of 24% over the same period last year. The top three industry groups were, in descending order of profitability, Resources, Financials, and Property and Construction Industry Groups. The top five firms, in descending order of profitability were PTT, SCC, PTTEP, SCB, and BBL.


As of September 30, 466 of 500 SET-listed companies, including 25 property funds, had reported their operating results for 9M/2009, with aggregate net profits of THB323.94 billion (approx. USD9.76 billion), a 17% drop year-on-year (y-o-y). Among those which submitted their reports, 353 companies posted net profits, while 113 reported net losses - a 76:24 ratio. Total net profits in Q3/2009 were THB115.10 billion (approx. USD3.47 billion), a 24% year-on-year (y-o-y) increase, revealed SET President Patareeya Benjapolchai.

“If we look at the overview picture of SET-listed firms’ quarterly performance from Q1/2009-Q3/2009, it shows continual improvement in their operating performance. The total net profit in Q2/2009 was at THB124.20 billion (approx. USD3.74 billion), a 51% increase over Q1/2009’s net profit of THB82.46 billion (approx. USD2.48 billion). The operating performance decreased slightly in Q3/2009, which recorded a total net profit of THB115.11 billion (approx USD3.47 billion), 7% down over Q2/2009.

“Meanwhile, SET-listed firms recorded a consistent rise in total sales. Total sales in Q2/2009 increased 12% over those of Q1/2009, while Q3/2009 sales increased 9% over those of Q2/2009. This record shows the strength and potential of listed companies even though they had to confront with economic crisis,” noted Ms. Patareeya.

SET100 Index companies’ Q3/2009 net profits was at THB97.30 billion (approx. USD2.93 billion), or a 22% increase y-o-y, while 9M/2009 net profits was at THB287.56 billion (approx. USD8.66 billion), accounting for 89% of total net profits of SET-listed firms, or a 15% decrease (y-o-y), with total sales dropping by 24%. Meanwhile, cost of sales recorded a 27% drop, resulting in an increase in gross profit margin to 20%, from 17%.

The top five most profitable stocks, in descending order, were PTT PCL (PTT), The Siam Cement PCL (SCC).PTT Exploration and Production PCL (PTTEP), The Siam Commercial Bank PCL (SCB), and Bangkok Bank PCL (BBL).

The 448 listed firms in the eight industry groups (excluding companies in the non-compliance and non-performing groups) saw total net profit in 9M/2009 of THB323.41 billion (approx. USD9.75 billion), a 17% decrease y-o-y. The operating performance in Q3/2009 showed the net profit of THB114.27 (approx. USD3.44 billion), a 23% increase y-o-y. The Resources, Financials and Property and Construction are the industry groups with the highest net profit.

In order of descending net profitability, the industry groups’ 9M/2009 results are as follows:

1. Resources Industry Group: (consisting of the Energy and Utilities and Mining sectors) This group’s combined net profit was THB129.20 billion (approx. USD3.90 billion), a 16% drop y-o-y. Meanwhile, Q3/2009 net profit recorded a 75% increase over Q3/2008, which recorded net profit of THB40.04 billion (approx. USD1.20 billion)

2. Financial Industry Group: (consisting of the Banking, Finance and Securities and Insurance sectors) This group’s combined net profit was THB76.08 billion (approx. USD2.30 billion), a 4 % decrease y-o-y. Meanwhile, Q3/2009 net profit recorded a 10% increase over Q3/2008, which recorded net profit of THB28.39 billion (approx. USD855.49 million)

3. Property and Construction Industry Group: (consisting of the Property Development and Construction Materials sectors, plus Property Funds) This group’s combined net profit was THB46.52 billion (approx. USD1.40 billion), a y-o-y increase of 3%. Meanwhile, Q3/2009 net profit recorded a 39% increase over Q3/2008, which recorded net profit of THB17.75 billion (approx. USD534.82 million)

4. Technology Industry Group: (consisting of the Information and Communication Technology and Electronic Components sectors) These firms’ combined net profit was THB30.15 billion (approx. USD908.37 million), a y-o-y decrease of 18%. Meanwhile, Q3/2009 net profit recorded a 5% increase over Q3/2008, which recorded net profit of THB10.35 billion (approx. USD311.99 million)

5. Agro and Food Industry Group: (consisting of the Food and Beverage and Agribusiness sectors). This group’s net profit was THB21.15 billion (approx. 637.21 million), a 32% increase y-o-y. Meanwhile, Q3/2009 net profit recorded a 48% increase over Q3/2008, which recorded net profit of THB8.65 billion (approx. USD260.73 million).

6. Services Industry Group: (consisting of the Commerce, Health Care Services, Media and Publishing, Professional Services, Tourism and Leisure, and Transportation and Logistics sectors). This group posted a combined net profit of THB17.09 billion (approx. 514.99 million), a decrease of 7% over 9M/2008. Meanwhile, Q3/2009 net profit recorded a 65 % decrease over Q3/2008, which recorded net profit of THB2.60 billion (approx. USD77.41 million)

7. Consumer Products Industry Group: (consisting of Fashion, Home and Office Products, Personal Products and Pharmaceuticals sectors) This group posted a net profit of THB 3.64 billion (approx. USD 109.74 million), a y-o-y decrease of 12%. Meanwhile, Q3/2009 net profit recorded a 3 % increase over Q3/2008, which recorded net profit of THB1.34 billion (approx. USD40.50 million)

8. Industrials Industry Group: (consisting of the Automotive, Industrial Materials and Machinery, Packaging, Paper and Printing Materials and Petrochemicals and Chemicals sectors) This group’s combined net loss amounted to THB405 million (approx. USD12.20 million), a decrease y-o-y, which recorded net profit of THB38.16 billion (approx. USD1.15 billion). Meanwhile, Q3/2009 net profit recorded a 25 % decrease over Q3/2008, which recorded net profit of THB5.15 billion (approx. USD155.09 million)