The Erawan Group - Expect Soft 2Q25E Earnings...
We expect 2Q25E core profit to decline both YoY and QoQ due to seasonal factors and a slowdown in Chinese tourist arrivals.
350 Views
ERW - 2Q25E to Be Negatively Impacted by Lower Chinese Tourist Arrivals..
Core profit has been revised downward to reflect a decline in Chinese tourist arrivals and the impact of the earthquake. 1Q25E core profit is...
169 Views
The Erawan Group - Upbeat 4Q24 Earnings Due to Good GPM
We remain positive on the fundamentals, as the market price implies a significant upside of 47% to the fair value. However, our tactical outlook...
184 Views
The Erawan Group - Better 4Q24E Earnings Outlook Due to Strong EBITDA Margin
Core profit for 4Q24E is expected to have grown beyond the previously estimated range due to effective cost control, resulting in a stronger-than...
219 Views
The Erawan Group - Rising D/E Concerns Given Resumed Investments in Non- Budget Hotels
We maintain an Outperform rating as the current price still offers 18% upside to the 12M fair value of Bt4.70 (based on a required return of 3.4%).
183 Views