KCE Electronics Public Company Limited (SET: KCE) announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q22 | 1Q21 |
| Net Profit (Loss) Million Baht |
589.77 | 503.32 |
| Earning Per Share (Baht) |
0.50 | 0.43 |
| % Change | 17.18 | |
For the three-month period ended March 31, 2022, KCE’s sales and net profit totaled THB4,532.6 million and THB589.8 million, respectively, compared to THB3,414.9 million and THB503.3 million in the first quarter of 2021.
The fluctuation in foreign currency exchange rates in the period caused a loss in revenue recognition in Baht terms by THB40.9 million in QoQ but a gain of THB261.6 million in YoY
The YoY profitability improved as a result of revenue growth from better efficiency and higher product mix of special grade products (HDI). However, an increase in raw material price impacted to a higher cost of goods sold, which was partially compensated by the adjustment of selling prices. In addition, there was a non-operating loss from the recognition of FV on a financial investment in the period. This resulted in basic earnings per share of THB0.50 in 1Q22.
The increase in sale was resulted from a change in product mix particularly of special grade products (HDI) which increased 53.7% QoQ and 61.0% YoY. In addition, new selling prices that took effect on January 1, 2022, represented an effective markup of 2-3% of sales, helped compensate for the high cost of raw materials.
