Ref.: EFORL IR023/2022
August 15, 2022
Subject: Management Discussion and Analysis Quarter 2Ending 30 June 2022 (additional)
ToPresident
The Stock Exchange of Thailand
1. Overview financial performance of E for L Aim Public Company Limited ("EFORL" or "the Company") and its subsidiaries (collectively as "the Companies") for Q2/2022 Financial performances Comparison is as follows:
THB'000 | Q2/2022 | Q2/2021 | ∆% | Q1/2022 | ∆% | |||
Revenues from Sales and Services | 391,949 | 600,493 | -35% | 341,421 | 15% | |||
Other income | 3,342 | 410 | 715% | 3,630 | -8% | |||
Total Revenues | 395,291 | 600,903 | -34% | 345,051 | 15% | |||
Profit / (Loss) before interest and taxation | 17,014 | 99,475 | -83% | 23,689 | -28% | |||
Margin | 17% | 6% | 12% | |||||
Profit / (Loss) for the period | 9,462 | 62,480 | -85% | 15,264 | -38% | |||
Margin | 2% | 10% | 4% | |||||
Portion of the Companies' shareholders | 9,462 | 84,613 | -89% | 15,264 | -38% | |||
Margin | 2% | 14% | 4% | |||||
Financial performance in Q2/2022
Total revenue of EFORL and its subsidiaries in Q2/2022 was Baht 392 million decreased by 35% compared to the previous year mainly causing from late delivery products from suppliers due to lack of raw materials to produce the products and logistic problems. This reflects to the Company to deliver products and services to customers being late from such situations.
2. Key Highlights for performance for the second quarter 2022 and 2021
THB'000 | Q2/2022 | Q2/2021 | ∆% | H1/2022 | H1/2021 | ∆% | |
REVENUES FROM SALES AND SERVICES | |||||||
Revenues from sales and services of medical equipment | 391,949 | 599,907 | -35% | 733,370 | 1,015,704 | -28% | |
Revenues from sales and beauty treatment services | - | 586 | - | 2,764 | |||
Total revenues from sales and services | 391,949 | 600,493 | -35% | 733,370 | 1,018,468 | -28% | |
COSTS OF SALES AND SERVICES | |||||||
Costs of sales and services of medical equipment | (270,220) | (379,007) | -29% | (491,565) | (649,252) | -24% | |
Costs of sales and beauty treatment services | - | (1,281) | - | (2,107) | |||
Total costs of sales and services | (270,220) | (380,288) | -29% | (491,565) | (651,359) | -25% | |
Gross profit | 121,729 | 220,205 | -45% | 241,805 | 367,109 | -34% | |
Other income | 3,342 | 410 | 715% | 6,972 | 7,974 | -13% | |
Selling expenses | (66,534) | (73,284) | -9% | (131,355) | (138,231) | -5% | |
Administrative expenses | (38,760) | (49,596) | -22% | (70,534) | (88,768) | -21% | |
Loss on (reversal of) impairment of trade accounts | (2,763) | 1,740 | -259% | (6,184) | 1,337 | -563% | |
receivable and other receivables | |||||||
Profit before finance costs and income tax | 17,014 | 99,475 | -83% | 40,704 | 149,421 | -73% | |
Finance costs | (7,590) | (15,879) | -52% | (15,596) | (30,863) | -49% | |
Profit before income tax | 9,424 | 83,596 | -89% | 25,108 | 118,558 | -79% | |
Income tax income (expense) | 38 | (21,116) | -100% | (381) | (32,478) | -99% | |
Profit for the period | 9,462 | 62,480 | -85% | 24,727 | 86,080 | -71% | |
Profit (loss) for the period attributable to | |||||||
Equity holder of the Company | 9,462 | 84,613 | -89% | 24,727 | 120,425 | -79% | |
Non-controlling interests | - | (22,133) | - | (34,345) | |||
Key Financial Ratios | |||||||
Gross profit margin | 31.1% | 36.7% | -5.6% | 33.0% | 36.0% | -3.1% | |
SG&A as % to sales | 26.9% | 20.5% | 6.4% | 27.5% | 22.3% | 5.2% | |
Net profit margin | 2.4% | 10.4% | -8.0% | 3.4% | 8.5% | -5.1% | |
Net profit margin (Portion of the Company's | 2.4% | 14.1% | -11.7% | 3.4% | 11.8% | -8.5% | |
shareholders) | |||||||
Revenues from sales and services
Revenues from sales and services of the group of the Company in Q2/2022 were THB 392 million decreased by 35% comparing to same period at the previous year.
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Gross margin
Gross margin in Q2/2022 was THB 122 million decreased by 45% comparing to the same period at the previous year. Gross profit margin ratio in Q2/2022 was 31% decreased by 6% comparing to the same period at the previous year.
Selling and Administrative Expenses
Selling and Administrative expenses in Q2/2022 were THB 106 million consisting of selling expenses (THB 67 million) and administration expenses (THB 39 million). Selling expenses and administrative expenses in Q2/2022 decreased by 14% comparing to the same period at the previous year.
Financial costs
Financial costs in Q2/2022 were THB 8 million decreased by 52% compared to the same period at the previous year.
Net income/ Loss
In Q2/2022, the net profit of EFORL and its subsidiaries was THB 9 million or decreased by 85% comparing to the same period at the previous year. Net profit margin ratio was 2.4. Profit for the period attributable to Equity holder of the Company was THB 9 million.
On 20 July 2022, there was a fire exposed in a rental office of the Company. This caused a damages only to some office equipment, and part of assets. However, the Company has an insurance coverage that would cover all losses. The Company is currently coordinating with the valuator to determine the damages for filling claims to the insurance company. The Company does not expect to incur any loss on the claims of damages.
Please be informed accordingly.
Yours sincerely,
Preecha Nuntnarumit
(Mr. Preecha Nuntnarumit)
Chief Executive Officer
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E for L Aim pcl published this content on 16 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2022 11:23:09 UTC.