mai-listed companies post promising sales & profit growth for 9-month of 2022

BANGKOK, Companies listed on Market for Alternative

Investment (mai) reported a 23.8 percent on year increase in total sales to THB

153.58 billion (approx. USD 4.31 billion), a 4.0 percent rise in aggregate

operating profits to THB 8.14 billion, and a 1.0 percent rise in total net

profits to THB 6.57 billion during the first nine months of 2022.


mai President Prapan Charoenprawatt said that 185 mai-listed companies or 96

percent of the total 192 companies (excluding those in the non-compliance or NC

list and those with different accounting period closing dates) submitted their

operating results for the first nine months of 2022. A total of 131 companies

reported net profits, representing 71 percent of all the companies that

submitted financial statements.


In the first nine months of 2022, mai-listed companies cost of sales rose by

28.0 percent from the same period a year earlier to THB 121.25 billion,

narrowing gross profit margin (GPM) to 21.0 percent from 23.6 percent, Over the

same period, four industry groups recorded an increase in total sales, total

operating profits, and total net profits, namely Agro & Food industry, Property

& Construction, Services, and Technology.


For the third quarter of 2022, mai-listed companies’ total sales rose by 22.8

percent from a year earlier to THB 52.29 billion, total operating profits

increased by 13.4 percent to THB 2.96 billion and total net profits dropped by

18.6 percent to THB 2.18 billion.


“For the nine-month period of 2022, most mai-listed companies reported sales

growth, in line with the economic pickup which is gaining speed for the post

COVID-19 pandemic and the return of foreign tourists. All industry groups, with

exception of the Financials, recorded sales increase. Although most listed

companies faced higher costs from rising oil and commodity prices, lowering the

profitability rate, they managed to control the ratio of sales and

administrative expenses to total sales. As a result, operating profits continued

to increase. In addition, restaurants, event organizing, tourism-related, and

export businesses – that gained benefit from the weaker baht – started to

recover,” added Prapan.


In terms of financial position, mai-listed firms’ total assets rose by 7.3

percent from the end of 2021 to THB 309.64 billion, with overall stronger

capital structure. The debt-to-equity ratio (D/E ratio) declined to 0.89 time

from 1.03 times over the same period.


Currently, there are 193 mai-listed companies. As of November 24, 2022, mai

Index closed at 580.47 points, with the total market capitalization of THB

518.42 billion and average daily trading value of THB 5.85 billion.


Source: The Stock Exchange of Thailand