COM7 Public Company Limited (SET: COM7) has announced 2024 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
3,307.16 | 2,857.17 |
| Earning Per Share
(Baht) |
1.3900 | 1.2000 |
| % Change | 15.75 | |
COM7 reported a net profit in 2024 of Baht 3,307.16 million, an increase of Baht 449.99 million or 15.75% compared to the previous year. The increase in net profit was due to revenue gain from strong smartphone sales and demands across all operating systems, as well as government stimulus measures.
Revenue from sales and services totaled 79,074.2 million baht, an increase of 9,514.7 million baht (+13.7%) compared to the last year. The main reason for growth comes from the rise in smartphone sales across all operating systems, both iOS and Android.
Although there were periods of product shortages and delivery delays, market demand remained strong, particularly with the launch of the iPhone 16 in the late third quarter, which received a positive response from consumers.
In addition, government stimulus measures at the beginning of the year allowed consumers to use tax deduction benefits when purchasing products through the company’s retail and online channels. Combined with the digital wallet policy, which began implementation in the late third quarter, these factors contributed to a noticeable increase in sales of entry-level smartphones, especially those priced below THB 5,000. It reflects that smartphones persist as an essential product for consumers.
Moreover, the growth of artificial intelligence (AI) technology is another key factor driving the expansion of the smartphone market, as manufacturers compete to develop new features to meet increasingly diverse consumer needs.
At the same time, the company’s subsidiaries have also achieved revenue growth, especially Thunder FinFin Co., Ltd. and Double Seven Co., Ltd. The combination of these factors has enabled the company to preserve ongoing growth in revenue from sales and services.
Gross profit totaled 10,475.9 million baht, an increase of 1,270.8 million baht (+13.8%) compared to the previous year. While the gross profit margin remained stable at 13.2% of total revenue, the significant growth in gross profit was primarily attributable to two factors: the successful introduction of new products that resonated strongly with consumers, and the robust performance of our subsidiary group.
Other income totaled 159.0 million baht, an increase of 76.8 million baht (+93.4%) compared to the previous year, primarily driven by interest income, dividends from investments in assets, and non-operating income such as rental income from real estate holdings, management fees from subsidiaries, and revenue from rights transfers.
