Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Equity Bottom-Up

<ul><li>The firm reported a 2Q22 net profit of Bt50mn (+219% YoY, -28% QoQ), driven by strong revenue growth and a healthy GPM.</li><li>Sales revenue surged 37% YoY to Bt419mn in 2Q22, spurred on by the expanding sales of cosmetic and consumer products.</li><li>Our valuation matrix still suggests an Underperform rating.</li></ul>

The firm reported a 2Q22 net profit of Bt50mn (+219% YoY, -28% QoQ), driven by strong revenue growth and a healthy GPM.Sales revenue surged 37% YoY to Bt419mn in 2Q22, spurred on by the expanding sales of cosmetic and consumer products.Our valuation matrix still suggests an Underperform rating.

Australia

Supply Network Limited provides after sales service for the commercial vehicle (truck, bus and coach) market.  The Company provides these services through its branches in Australia and New Zealand.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Supply Network (SNL AU)

Earnings Review

The firm reported a 2Q22 net profit of Bt50mn (+219% YoY, -28% QoQ), driven by strong revenue growth and a healthy GPM. Sales revenue surged 37%...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)