KCE Electronics Public Company Limited (SET: KCE) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss) Million Baht |
635.07 | 376.18 |
| Earning Per Share (Baht) |
0.5400 | 0.3200 |
| % Change | 68.82 | |
| 6 Months | 6M24 | 6M23 |
| Net Profit (Loss) Million Baht |
1,150.45 | 721.65 |
| Earning Per Share (Baht) | 0.97 | 0.61 |
| % Change | 59.42 | |
KCE reported a net profit of 635 million baht in 2Q24, a rise of 68% from the same period of last year.
The total consolidated revenue of 2Q24 was reported at 4,246.1 million baht, increased 6.18% Y-o-Y. This total revenue includes 4,011 9 million baht from product sales and 234.2 million baht from other income.
When comparing 2Q24 to 2Q23, the major increase in other income was due to a gain of 144.5 million baht from the sale of assets, including the sale of land and building of a subsidiary’s old factory in the Bangpoo Industrial Estate.
Meanwhile, consolidated sales revenue of 2Q24 in Baht terms was reported at 4,011.9 million baht. The change in the FX rate of THB against the USD and Euro during the period resulted in a gain in revenue recognition in Thai Baht terms of 82.55 million baht Q-o-Q and 189.91 million baht Y-o-Y.
As of the end of June 2024, the company still has a backlog of orders totaling approximately 5.9 million USD. Additionally, some products, valued at around 2.1 million USD, were delayed in delivery due to customer shipment authorization issues; these will contribute to revenue in 3Q24. The company remains focused on clearing all backlog orders, most of which are special-grade PCBs, by increasing manufacturing efficiency to boost HDI capacity.
The gross profit margin in 2Q24 was 24.8% of sales, increased from 23.1% and 19.1% Q-o-Q and Y-o-Y, respectively. This improvement is a result of the favorable impact of foreign exchange rates and the initiating process changes include efficiency enhancements as part of the cost reduction plan for this year.
Additionally, the company approved a dividend payment of THB0.60 per share to be paid on 11 September 2024. The ex-dividend date is 26 August 2024.
