SISB Public Company Limited (SET: SISB) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q23 | 3Q22 |
| Net Profit (Loss) Million Baht |
128.53 | 99.44 |
| Earning Per Share (Baht) |
0.1400 | 0.1100 |
| % Change | 29.26 | |
| 9 Months | 2023 | 2022 |
| Net Profit (Loss) Million Baht |
442.99 | 240.93 |
| Earning Per Share (Baht) | 0.47 | 0.26 |
| % Change | 83.87 | |
SISB reported net income of THB 128.53 million in 3Q23, with net profit margin at 26.09%, an increase from the same period of previous year of THB 99.44 million. The increase in net profit was due to the increase in the revenue and most administrative expenses of the company are fixed.
Net income excluding new schools in Nonthaburi and Rayong was THB 186.92 million in 3Q23, with net profit margin at 39.32%. Net loss from new schools was THB 58.39 million divided into one-time pre-operating expenses of THB 25.83 million and operating cost and expense of THB 32.56 million. The new schools started revenue recognition in September 2023 and operating cost and expense recognition in August 2023
The company’s revenue from sales and services for the 3-month period ended 30 September 2022 and 2023 were THB 341.56 million and THB 477.57 million respectively. Revenue increased by THB 136.01 million or 39.82%. This mainly came from the opening of new schools (Nonthaburi Campus and Rayong Campus), higher number of students both Thai students and Foreign students and increased tuition fee of Academic Year (AY)2023/2024.
Revenues from sales and services consist of Tuition fees and services income and Education equipment income which accounted for 98.70% and 1.30% of revenues from sales and services in the 3-month period 2023 respectively.
Tuition fee income for 3Q22 and 2023 was THB 321.27 million and THB 455.12 million respectively, increasing by 41.66% resulting from the number of students increased from both Thai students and Foreign students from 2,793 to 3,756 (excluded the number of students from Singapore International School Chiang Mai). In addition, average tuition fee income per student increased from THB 0.48 million to THB 0.53 million per student or 10.00%, mainly came from the opening of new schools in Nonthaburi and Rayong and increased tuition fee of AY2023/2024 which is related to the industry and increased in staff remunerations. The new schools and the increased tuition fee started to be recognized in September 2023.
Application and enrollment fee incomes of the company for 3Q22 and 2023 were THB 15.94 million and THB 16.22 million respectively. Application and enrolment fee increased by 1.76% from the same period of previous year, due to increasing number of students.
