Thai listed companies report profit at THB 986 billion in 2021 with business back to normal.

  • -Total sales up 23.1% to THB 13.13 trillion in 2021
  • -Net profit up 79.9% to THB 985.70 billion
  • -Profitability index also returned to the pre-COVID-19 level

Profitability index back to pre-COVID-19 level

Companies listed on The Stock Exchange of Thailand (SET) reported considerable sales growth in 2021, resulting from higher commodity prices and satisfactory adaptation to COVID-19 situation. The profitability index has also returned to its pre-COVID-19 level.

SET Senior Executive Vice President Manpong Senanarong said that 757 listed companies, representing 97.1 percent of total 780 listed companies on SET and
Market for Alternative Investment (mai) (excluding property funds, infrastructure funds and companies with non-compliance or NC sign) submitted their yearly financial performances ending December 31, 2021.

The reports showed that 592 companies recorded in net profit, accounting for 78.1 percent of the listed companies that submitted their financial statements.

SET-listed companies’ total sales up 23%

SET-listed companies recorded total sales worth THB 13.13 trillion (approx. USD 393.35 billion) or a 23.1 percent rise year-on-year, with core operating profit of THB 1.56 trillion or a 68.3 percent rise, and net profit of THB 985.70 billion, up 79.9 percent.

The operating profit margin and the net profit margin were at 11.9 percent and 7.5 percent respectively, higher than the same period in the previous year. Regarding Thai listed companies’ financial positions at end-2021 (excluding those in the Financials industry group), their debt-to-equity ratio was at 1.54 times, unchanged from the ratio at end-2020.

Compared with performances in 2019 – the year before the COVID-19 pandemic,
listed companies delivered the improved financial performances in 2021 with
increases in sales, core operating profit and net profit, while their profit margins bounced back to the similar level to 2019.

“In 2021, there were three main factors behind the growth. Firstly, the higher
commodity prices in consistent with the rising oil prices, business adaptation
to the new normal to cope well with the COVID-19 spread and the easing COVID-19
measures.

Consequently, listed companies had higher core operating profit, particularly those engaged in commodity-related products such as energy, petrochemicals, steel and transportation (waterway); healthcare business and medicine & related products such as rubber gloves; as well as the fast-recovering Industrials Industry Group including electronic components, industrial materials, automotive,” added Manpong.

Companies listed on Market for Alternative Investment (mai) posted total sales in 2021 at THB 171.24 billion or a 13.3 percent increase, operating profit at THB 10.76 billion or a 38.9 percent rise, and net profit at THB 8.44 billion or a whopping 273.6 percent rise.

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