KCE’s 1Q21 Earnings Rise 18%, Reporting an Acquisition of Land for Business Expansion
KCE reported a net profit growth by 18% in 1Q21 and an acquisition of land in Rojna worth 221 million baht for the business expansion.
KCE reported a net profit growth by 18% in 1Q21 and an acquisition of land in Rojna worth 221 million baht for the business expansion.
11 พ.ค. 2564

KCE Electronics Public Company Limited (KCE) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

KCE recorded a net profit of 503 million baht in 1Q21, increased 18.48% from a net profit of 424 million baht in 1Q20. The strong performance was the result of better efficiency, revenue growth from an automotive market recovery and the effect of a change in product mix, whereas the gross margin widened and SG&amp;A increased slightly. This resulted in basic earnings per share of Bt0.43 in 1Q21.
 
Consolidated sales revenue in baht terms in 1Q21 was reported at 3,414.9 million baht, representing a slight decline of 0.09% QoQ but an increase of 4.76% YoY, while sales revenue in USD terms grew by 0.74% QoQ and 8.15% YoY. The strengthened THB against the US dollar in the period caused a loss in revenue recognition in baht terms by 16 million baht and 50 million baht in QoQ and YoY, respectively.
 
The gross profit margin as a percentage of sales widened both QoQ and YoY to 25.03% in 1Q21 following a significant increase in production capacity utilization, which reflected a firm recovery of order bookings from the beginning of the first quarter. However, the margin was pressured by the strengthened THB against the US dollar and a continual increase in the price of LME Copper, which led to the cost of goods sold increased by 1.94% YoY. In addition, the increase in volume of HDI PCBs of 51.35% YoY, helped reduce the cost of goods sold despite an annual adjustment in selling price.
 
In addition, the Board of Directors’ Meeting of KCE Electronics Public Company Limited (KCE) No. 5/2021, held on May 11, 2021, passed a resolution approving the purchase of asset, which is the Land in Rojana, from the seller, Sanyo Semiconductor (Thailand) Co., Ltd. with a transaction value of 221 million baht.
The Asset is located at 1/7 Rojana Industrial Park , Moo 5, Khanham, Uthai , Phra Nakhon Sri Ayutthaya, Thailandthe total area of 67-2-91 Rai. The purpose of the investment is to support business expansion, as well as to enhance long-term value for shareholders.