Stock news 17:09 2024-02-15
NAT closed the first day of trading at 6.90 baht, an increase of 1.50 baht (+27.78%), trading value 1,756.35 million baht from the opening price of 5.95 baht, highest price 6.90 baht, lowest price 5.60 baht.
TISCO Securities stated that Nat Absolute Technologies Public Company Limited (NAT) business has high growth along with high competition. The business of consulting and system installation related to information and communication technology systems is highly competitive. Including there are quite a lot of related business operators. Each player is different in terms of service details. In addition, good relationships are built to maintain the existing customer base and create opportunities to expand the new customer base.
However, it is still a business with high growth opportunities following the trend of change into the digital age that is becoming more important. The company’s services meet the needs of services that cover infrastructure solutions to information technology equipment. In addition, we are a Titanium Partner (there are only 5 in Thailand) with Dell Technologies, as well as business alliances with many leading manufacturers of information technology equipment and software such as Genesys, VMware, Infoblox, Nokia and CyberArk, resulting in Increase the competitiveness of the company
It is expected that revenue in 2023 will grow prominently YoY from increased sales revenue and system contracting service revenue. According to the expansion of the number of new projects, the total revenue from sales and services in the 9-month period of 2023 grew approximately 90 percent YoY, while it is expected that in 2024-2025 Main income will continue to grow at a reduced rate from 2022-2023, with management targeting income growth of not less than 30 percent per year. The company’s products and services are in line with the trend of transition to the digital technology era in the sector. The state is giving importance
Net profit in 2023 is expected to increase YoY in line with revenue growth. Meanwhile, gross margin decreased YoY from higher prices of electronic equipment and IT infrastructure equipment. And net profits are expected to expand in 2024-2025 following continued revenue growth from increased project work. and expanding the customer base to the private sector. After being listed on the stock exchange, the company’s working capital will be able to support larger projects. However, it is expected that sales and administrative expenses will increase in 2024 because the company plans to increase personnel to support growth.
Raising funds to expand capacity to accept larger projects this time is appropriate. And there are further factors to follow in terms of diversifying the customer base to the private sector. and the growing trend of AI being used in organizations, which will be a positive trend for the company’s future income.
Important risks include 1) discontinuity of income 2) dependence on large customers 3) changes in technology
From the preliminary valuation with the average PER of similar business operators being 11-12 times, it was found that the value was appropriate, similar to the IPO price.
NAT has a consulting service business, designs, procures, sells equipment along with installation. and system installation contractors related to information and communication technology systems (Information and Communication Technology System Integration) through providing advice by a team with knowledge, ability and experience in information technology regarding appropriate solutions. which is in line with the needs of customers Including providing contract services for system maintenance. In addition, it also provides other services related to information and communication technology, such as providing IT staff (IT Outsourcing), document printer rental services. Photocopier computer notebook
By InfoQuest News Agency (15 Feb. 2024)
Tags: NAT, Thai stocks, NAT Absolute Technologies
2024-02-15 10:14:14
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