CENTEL: Hotel Business Recovery Drives 1Q22 EBITDA Growth
We downgrade to HOLD rating from BUY rating with TP unchanged at Bt43, derived from DCF (WACC of 10% and TG of 2%), implying 28.6xPE’23. We...
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CENTEL: Brighter Outlook in 2022 and Beyond
Analyst meeting came out with a positive tone. We expect 2022 EBITDA to grow by 78%YoY supported by strong recovery in hotel businesses especially...
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CENTEL: The Seventh Consecutive Quarter Loss in 3Q21
We maintain BUY rating and roll-over our TP to Bt43 (+23% from previous TP) based on DCF method (WACC of 10% and terminal growth of 2%), implying...
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CENTEL: Losses Continue into 1Q21 Earnings
CENTEL reported 1Q21 net loss was at Bt476m compared to net loss of Bt45m in 1Q20 and net loss of Bt1.4bn in 4Q20. We upgrade our recommendation to...
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CENTEL: Losses Continue into 2021 Earnings
We expect earnings to remain at loss in 2021 before returning to pre-COVID level in 2023, driven by recovery of tourist arrivals to Thailand since...
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