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 3Q23 net profit of Bt319mn was in line with the expectation. The GPM was far better than our expectation, while both sales and earnings hit new highs.</li><li>The 3Q23 net profit increased by 79% YoY and 2% QoQ.</li><li>Sales growth marked at +30% YoY and +1% QoQ to Bt1.67bn in 3Q23 (overseas sales accounted for 83% vs. domestic sales at 17%).</li></ul>

The 3Q23 net profit of Bt319mn was in line with the expectation. The GPM was far better than our expectation, while both sales and earnings hit new highs.The 3Q23 net profit increased by 79% YoY and 2% QoQ.Sales growth marked at +30% YoY and +1% QoQ to Bt1.67bn in 3Q23 (overseas sales accounted for 83% vs. domestic sales at 17%).

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