Lee Pattana Group is principally engaged in
(1) manufacturing of animal feed
(2) crop drying, silo business and the distribution of raw materials for animal feed manufacture
(3) experimental farming and
(4) crop farming.
| 2022 | 2021 | 2020 | 2019 |
|---|
| Revenues | 3,385.29 | 3,788.10 | 2,883.39 | 2,677.79 |
| Expenses | 3,355.02 | 3,631.22 | 2,655.66 | 2,486.10 |
| Net Profit (Loss) | 29.65 | 136.08 | 187.05 | 149.70 |
| Assets | 3,051.44 | 3,237.52 | 3,142.82 | 2,982.17 |
| Liabilities | 339.22 | 446.98 | 411.54 | 324.50 |
| Shareholders' Equity | 2,683.33 | 2,760.57 | 2,700.57 | 2,627.86 |
| Operating | 101.65 | 90.02 | 147.28 | 169.20 |
| Investing | 55.15 | 121.94 | -23.07 | -123.05 |
| Financing | -135.65 | -180.96 | -126.65 | -74.73 |
| EPS (Baht) | 0.03 | 0.15 | 0.20 | 0.16 |
| GP Margin (%) | 5.81 | 7.57 | 14.08 | 13.68 |
| NP Margin (%) | 0.84 | 3.57 | 6.57 | 5.60 |
| D/E Ratio (x) | 0.13 | 0.16 | 0.15 | 0.12 |
| ROE (%) | 1.09 | 4.98 | 7.02 | 5.79 |
| ROA (%) | 0.96 | 4.92 | 7.59 | 6.19 |
- Conduct research and development to devise new quality products.
- Enhance manufacturing process with deployment of innovation.
- Create, consolidate, and expand customer bases.
- Respond to customers’ requirements and reach their maximum satisfaction.
In the writing process.
More than 40 years in this business, the Group is well known and regarded. Our R&D for feed formulas and customized products has differentiated our stance. The Group also has the production capacity to meet increases in market demand.
The Group’s 2022 operating result, it generated a net profit of 29.65 million baht while that of the previous year was 136.08 million baht, meaning the net profit decreased by 106.43 million baht. The reason for this drop is mainly from the selling price of animal feed not being adjusted to keep up with the rising costs of its raw materials, as feed products are regulated products and their prices are controlled by the government. However, based on the Group's experience and know-how, it is necessary to accelerate the development and improvement of solutions to reduce costs. For example, this year, the Group will begin to integrate modern machinery as an automated system in production to enhance production efficiency and consistently maintain high quality at reasonable costs and market competitiveness.
- 1983 : Established.
- 1988 : The first feed mill was built in Nakhon Pathom.
- 1990 : Listed on the Stock Exchange of Thailand and the second feed mill was built in Saraburi under Lee Pattana Feed Mill Co., Ltd. ("LPFM")
- 1994 : Became a limited public company.
- 1996 : Closed the first feed mill in Nakhon Pathom due to the limited area available for expansion and opened the new feed mill in Petchburi under Lee Feed Mill Public Co., Ltd ("LFM").
- 2002 : Opened aquaculture feed mill in Petchburi under LFM.
- 2004 : Established Lee Pattana Agro Silo Co.,Ltd., operates its business as silo grain storage and the purchase and sale of animal feed material.
- 2007 : Opened aquaculture feed mill in Saraburi under LPFM.
- 2012 : Invested in Bodhi Ngarm Sea Farms Co.,Ltd., in order to experimental farming for the aquaculture business.
- 2020 : Invested in P A F (2020) Co., Ltd., a subsidiary, operates its business as a distributing pet feed. (Formerly known as “Pattana Agro Future Co., Ltd.”, an associated company)
- 2021 - 2022 : Invested in automatic machines totaling 277 million baht to enhance production efficiency.
Risk from Fluctuations in Raw Materials Price
The main raw materials are agricultural products such as maize, soybean meal, and fish meal. The Group is affected by the price volatility of raw materials for the manufacture of animal feeds. However, the Group has closely monitored the raw material market situation, purchased, and stored raw materials in quantities appropriate to production levels for use during periods of rising raw material prices. Nevertheless, the Group is allowed to increase the selling prices of animal feeds with approval obtained from the Department of Internal Trade.
The Volatility on Foreign Exchange Rate Risk
The Group's exposure to foreign currency risk arises mainly from purchase of goods that are dominated in foreign currencies. The Group seeks to reduce the risk by entering into forward exchange contracts when it considers appropriate. Generally, the forward contracts mature within one year for hedge the foreign currency risk arising on the import of raw materials.
| as of 30/12/22 | LEE | AGRI | SET |
|---|---|---|---|
| P/E (X) | 29.81 | 7.93 | 18.16 |
| P/BV (X) | 0.83 | 0.96 | 1.65 |
| Dividend yield (%) | 5.42 | 9.14 | 2.50 |
| 30/12/22 | 30/12/21 | 30/12/20 | |
|---|---|---|---|
| Market Cap (MB) | 2,213.23 | 2,489.89 | 2,121.01 |
| Price (B/Share) | 2.40 | 2.70 | 2.30 |
| P/E (X) | 29.81 | 17.34 | 11.05 |
| P/BV (X) | 0.83 | 0.95 | 0.80 |
