The movement of the Thai stock market in the morning as of May 2, 2024. The new stock SPREME or Supreme Distribution Public Company Limited opened for trading on the first day above reserve, rising 29.23% or increasing by 0.76 baht or the rate of baht from the IPO at 2.60 baht.
Ekarin Wongsiri, Director of Securities Analysis Department, Trinity Securities, disclosed that the Department of Analysis expects total revenue in 2023-2025 at 1.2 billion baht, 1.6 billion baht, and 1.7 billion baht , respectively In 2023, the company will be able to apply for large projects, and in 2024, it is still considered that its inclination to the company etc. There will be more large applications for jobs from 2023 because in 2023, the budget of the Ministry of Education will pay Less than the budget set, but in 2024, the budget of the Ministry of Education is still similar to 2024 at approximately 328 billion baht, but the payment of the budget is expected to be faster and higher than in 2023 after the government is established at the end of 2023.
As for the gross profit margin in 2023-2025, the analytical department estimated it at 25.38 percent, 23.94 percent, and 23.70 percent, respectively, which is higher than in the past at about 21 percent because the company earns income from large jobs on the rental of computer systems and peripherals. which has a relatively high profit rate of 40 to 50 percent, meaning that the company’s overall profit rate is increasing
As for profits in 2023-2025, the analytical department estimates them at 156 million baht, 208 million baht, and 218 million baht, respectively, representing a CAGR of 30 percent based on revenue higher and high profit rate
While the stock valuation estimates the fair value at the end of 2024 at 4.80 baht per share, the analysis section Estimate the value of SPREME shares at the end of 2024 at 4.80 baht using the PE Ratio method at 17 times, which the average of stocks in the System Integration group is 17.4 times, based on the 2024 EPS forecast of 0.28 baht per share.
Worachart Tuaycharoen, Managing Director of Finnex Advisory Company Limited, as a financial advisor, said that SPREME is a new stock on the stock exchange. which could generate good returns for investors Because of strong fundamentals With management’s experience in business operations for 20 years and with the strength of SPREME which operates System Integrator business, which is a mega moving business with high growth potential. There is a lot of potential for future growth. according to the model of the country’s educational development and the country’s development into the smart city form and public safety
“SPREME is a leader in the System Integrator industry that has the strength to be a hybrid stock of both Growth Stock and Dividend Stock This time by raising money on the stock exchange to enable a strong capital base increase. and use it to further develop industries related to information and communication technology, which is a global mega trend. It also increases the chances of applying for government jobs. Especially the Ministry of Education, which the company receives work regularly.
SPREME has offered 200,000,000 shares to the general public (IPO), with a par value of 0.50 baht per share, at a price of 2.60 baht per share, which will be listed on the Stock Exchange of Thailand (SET) in the group information and communication business technology (ICT)
Panuwat Khanthamolikul, Chief Executive Officer of Supreme Distribution Public Company Limited or SPREME, revealed that business fundamentals, both financial status and cash flow, are strong. It has a low debt-to-equity (D/E) ratio of 0.77 times After the IPO it will be reduced to around 0.34 times There is no interest bearing debt. and is in the megatrend business group
After raising money in SET, the company will use the money to prepare for bids for large government jobs worth more than 1,000 million baht, which is work the company is doing. to have experience Especially the work of the Ministry of Education that the company Receives application work regularly over a period of more than 20 years, including investment in business construction to expand the company’s business (M&A ) and use as working capital. To create strong and sustainable growth Increase future business potential
“To raise money this time will make the company famous. It is widely known and accepted. Importantly, it creates capital to support growth. including bids for large government projects with a size of more than 1,000 million baht and conducting M&A to further expand information and communication technology related businesses. And most importantly, the group of major shareholders and existing shareholders are ready to lock up all their shares 100%.
For operating results in 2023, the company had a total income of 1,276.41 million baht, including 1. income from sales and installation businesses in the amount of 1,108.81 million baht, 2 .MA business in the amount of 97.17 million baht, 3. Rental business in the amount of 50.34 million baht, 4. Other income 20.09 million baht and net profit 156.59 million baht
The top 3 shareholders of SPREME after the IPO are 1) Khanthamoleekul family group. (Individuals and legal persons) holding 67.57% of the shares 2) Group of brothers and sisters Mr. Panuwat and Ms. Suporn holds 6.15% of the shares and 3) Mr. which can be mentioned This is calculated as a price to net earnings per share ratio of 12.29 times, which is calculated from net profits in the last 4 quarters. From January 1, 2023 to December 31, 2023 divided by the number of common shares after this share offering. Calculated as net profit per share equal to 0.21 baht. After deduction of corporate income tax and allocation of legal resources.
Manpong Senanarong, Assistant Manager, Head of Securities Disclosure Department The Stock Exchange of Thailand revealed that the Stock Exchange welcomes Supreme Distribution Public Company Limited to register and start trading on the stock exchange. in the technology business group Information and communication technology business category Using the securities trading abbreviation as “SPREME” on May 2, 2024.
SPREME has been engaged in providing information and communication technology services for a long time by designing, supplying, installing and distributing complete equipment related to information technology systems and systems networking, including Hardware, Software, network systems such as LAN, WAN, WLAN, Cyber systems, data center systems, etc., as well as providing maintenance , repair, and rent computer systems and peripherals. Focus on customers in the government sector Especially organizations related to the education sector The company has experience and is the main representative for the distribution of educational software from Microsoft. And knowledge has been transferred to develop services that are always up to date with today’s technology. Therefore, it has continuously won the trust of customers As of December 31, 2023, the company has work that has not yet been delivered (Backlog) worth about 442 million baht, which will recognize the future of phase in from 2024 onwards.
2024-05-02 03:14:00
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