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.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Equity Bottom-Up

<ul><li>We have a positive outlook for 2Q25E, expecting strong profit growth both YoY and QoQ, supported by higher sales and improved margins.</li><li>For 3Q25E, profit is expected to soften QoQ but remain better than 1Q25, driven by lower raw material costs and seasonal demand for broiler exports.</li><li>Although swine prices have declined, a recovery is anticipated in 4Q25E, in line with the rebound in domestic tourism and the overall economy.</li></ul>

We have a positive outlook for 2Q25E, expecting strong profit growth both YoY and QoQ, supported by higher sales and improved margins.For 3Q25E, profit is expected to soften QoQ but remain better than 1Q25, driven by lower raw material costs and seasonal demand for broiler exports.Although swine prices have declined, a recovery is anticipated in 4Q25E, in line with the rebound in domestic tourism and the overall economy.

Betagro - Expect 2Q25E Earnings to Grow 3-Fold YoY and 38% QoQ