KCE Electronics Public Company Limited (SET: KCE) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q23 | 3Q22 |
| Net Profit (Loss) Million Baht |
519.53 | 655.24 |
| Earning Per Share (Baht) |
0.4400 | 0.5500 |
| % Change | -20.71 | |
| 9 Months | 2023 | 2022 |
| Net Profit (Loss) Million Baht |
1,241.18 | 1,816.92 |
| Earning Per Share (Baht) | 1.0500 | 1.5400 |
| % Change | -31.69 | |
KCE reported a net profit of 519 million baht in 3Q23, decreased 20.71% from a net profit of 655 million baht in 3Q22. The decrease was mainly due to lower revenue in the quarter and higher selling and administrative expenses as well as a loss in FX.
Consolidated sales revenue of 3Q23 in Baht terms was reported at 4,326.5 million baht, increased 11.00% QoQ but decreased 6.63% YoY, while sales revenue in USD terms also increased by 8.86% QoQ but decreased 3.27% YoY. The FX rate change of Thai Baht against the US dollar in the period resulted in a gain in revenue recognition in Thai Baht terms of 59.15 million baht in QoQ but resulted in a loss 103.02 million baht in YoY.
The gross profit margin in 3Q23 was 22.0% of sales, increased from 19.1% in 2Q23 but decreased from 24.3% in 3Q22. The main factors come from the fluctuation of the Thai Baht against the US Dollar, where the depreciation has a positive impact on income..
