Eastern Polymer Group

EPG: Expect 3QFY22 Core Earnings to Grow QoQ but Contract YoY

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148 Views, 12 Jan 2022 14:54
EXECUTIVE SUMMARY
  • We expect the company to report 3QFY22 (Oct-Dec) core profit at Bt400m (+9%QoQ -12%YoY). QoQ expansion will be due to recovery for thermal insulator sales after selling price adjustment 
  • We maintain positive outlook for earnings growth in FY2023 (+14%YoY) backed by; 1.) an increase in revenue for thermal insulator and consumer packaging segments, 2.) improving operating margin
  • We assume profit margin to remain at high level at above 31% in the remaining quarters of FY22 as demand for most of the products remain strong while
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