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>Insights from the latest analyst meeting indicate a continued recovery in 1Q25E, both in same-store sales growth (SSSG) and profit margins, with a 2025E sales growth target of 7% to over 10% and a three-year store expansion plan.</li><li>For 2025, the company expects SSSG growth of 5%, a gross profit margin of 18% (vs. 17.1% in 2024), an increase in the house brand contribution to 22% (from 19% in 2024), and an operating expense-to-sales ratio of 10-11% (vs. 13.7% in 2024) driven by stricter branch cost control.</li><li>DOHOME aims to expand the number of large-format stores from 24 in 2024 to 32 by 2027 and small-format (To Go) stores from 15 in 2024 to 50 by 2027.</li></ul>

Insights from the latest analyst meeting indicate a continued recovery in 1Q25E, both in same-store sales growth (SSSG) and profit margins, with a 2025E sales growth target of 7% to over 10% and a three-year store expansion plan.For 2025, the company expects SSSG growth of 5%, a gross profit margin of 18% (vs. 17.1% in 2024), an increase in the house brand contribution to 22% (from 19% in 2024), and an operating expense-to-sales ratio of 10-11% (vs. 13.7% in 2024) driven by stricter branch cost control.DOHOME aims to expand the number of large-format stores from 24 in 2024 to 32 by 2027 and small-format (To Go) stores from 15 in 2024 to 50 by 2027.

Flash News - DOHOME: Positive View from the Analyst Meeting

Dohome PCL

Flash News - DOHOME: Positive View from the Analyst Meeting