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>The 4Q23 core profit was 5% below the expectation, but the 2023 earnings were in line with the forecast.</li><li>The sustained momentum of the GPM improvement over four consecutive quarters in 2023 underscores the company's effective management amid sales challenges stemming from diminished purchasing power in line with the prevailing economic conditions.</li><li>Our earnings projections are maintained.</li></ul>

The 4Q23 core profit was 5% below the expectation, but the 2023 earnings were in line with the forecast.The sustained momentum of the GPM improvement over four consecutive quarters in 2023 underscores the company's effective management amid sales challenges stemming from diminished purchasing power in line with the prevailing economic conditions.Our earnings projections are maintained.

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