[ad_1]
HoonSmart.com >> Leo Global Logistics Gets Hard! COVID Garden Q3 Q3 profit of 15 million baht, 284% increase in imports and exports, keep an eye on the M&A deal, driving the jump in performance, Nomura Pattanasin Securities sees long-year profit growth of 65 Consistently stop making new heights through 4 baht
Mr. Kettiwit Sittisontornwong CEO Leo Global Logistics (LEO) revealed that in the third quarter of 2020, service revenue was 252.3 million baht, gross profit grew 23.58% compared to the previous year and a net profit of 15.1 million baht increased. It increased 11.2 million baht or a growth of 284% compared to the same period last year with a net profit of 3.9 million baht, which this third quarter still maintains a high gross profit margin of 34.9 % and a net profit margin of 6% compared to the same period last year. Net profit margin 1.7%
During the first nine months of 2020, which ended on September 30, 2020, service revenue was 789.6 million baht, a decrease of 5.6 million baht or 0.7% compared to the same period last year 795 million baht, which is considered to have a very low impact. From the COVID-19 crisis and a net profit of 43.4 million baht, an increase of 4.1 million baht or 10.4% compared to the same period last year, the profit of 39.3 million of baht, driven by effective cost management.
“Net income increased significantly despite a slowdown in sales in the first nine months. Of the impact of the coronavirus outbreak This reflects very well the capacity of our cost management and gross profit. Because the principle is not only focused on income But focus on generating profits We try to stay in the Blue Ocean market and not compete on prices. Focus on customer satisfaction as a priority. Complete logistics services by land, sea and air, and having a diverse group of clients. Help spread business risks AND increase revenue opportunity Able to cope with changing situations Too “
As for the 4Q20 trend, it is expected to continue growing. After the COVID-19 situation Began to develop Make entrepreneurs import and export Come back to use more transport services. And driven by the growing e-commerce business in the New Normal era, including entrepreneur promotion Boost sales at the end of the year Especially 11.11 and 12.12 promotions, including Christmas and New Years. Causing demand for more products to deliver Driving the performance trend this year Have the opportunity to continually set new highs
LEO Executive Director discusses the 2021 business plan, preparing to acquire 2-3 companies in both countries and ASEAN countries (ASEAN), a national company related to the air transport business and 2 companies in ASEAN, the goal is the companies. With revenues of about 100-200 million baht / year and net earnings have continued, it is expected that at least 1 year-end will be clearly seen
While revenue from the Self Storage business, the company’s new rising star, 9-month revenue grew 29% and generated a 61% YoY gross profit from the Self Storage business. The expansion of investment in the Leo Self Storage & E-Fulfillment Center business, which currently represents only 1% of revenue at the 30-40% average gross margin, expects a growth rate of said business of 200% after storage space is available. New place What is expected to be more than 2,000 square meters of the total investment plan. It will complement the growth of business operations in 2022-2023, growing between 30% and 40% starting in 2020.
Nomura Securities Co., Ltd. assesses LEO to have good cost management capabilities. Therefore, the net profit continues to grow. And expected this year Net profit was 58 million baht or increased 27% over the previous year and 2021-2022 profit of 70.80 million baht respectively, or growth of 20% and 15%, respectively. The basic LEO valuation was 4.36 baht for the multiple P / E at 20 times (based on the average P / E of the logistics stocks in SET and mai)
KGI Securities (Thailand) assessed the fair value of LEO shares for 2021 at a price of 4.50 baht, and forecast that earnings for 2020 and 2021 will grow by at least 20%, while Trinity Co., Ltd. gave a target price for 2021 of 4.45 baht. / Share, indicating that after this capital increase Have funds to invest in future businesses. While Finansia Syrus Securities Public Company Limited assessed the target price for 2021 of 4.44 baht.
As for the share price, LEO has continued to buy speculatively. The price made New Hi go through 4 baht to a high of 4.06 baht, an increase of 0.16 baht, the latest at 14.53 hours, the price moved to 4.02 baht, an increase of 0.12 baht or 3.08%.
