DEXON Technology PLC is a technology company providing advanced inspection and engineering services to the industrial sector. Including oil & gas pipelines, oil storage tanks, and gas storage tanks to name a few.
In-house research development and engineering teams comprising of 70 researchers have been responsible for tool development as well as offering customized tool modification for inspection of challenging pipelines for the last 27 years.
DEXON Technology PLC is a leading technology company providing in-line inspection ("ILI"), advance Non-Destructive Testing (NDT), and asset integrity (AI) management services globally.
| 3M23 | 3M22 | 2022 | 2021 |
|---|
| Revenues | 145.49 | 104.31 | 610.47 | |
| Expenses | 137.54 | 97.90 | 488.00 | |
| Net Profit (Loss) | 4.09 | 3.89 | 105.15 |
| Assets | 1,159.70 | 643.05 | 643.05 | |
| Liabilities | 345.09 | 369.96 | 369.96 | |
| Shareholders' Equity | 814.60 | 273.10 | 273.09 |
| Operating | 46.23 | 19.29 | 175.96 | |
| Investing | -31.73 | -20.74 | -112.73 | |
| Financing | 537.03 | -23.32 | -81.42 |
| EPS (Baht) | 0.01 | 0.02 | 0.43 | |
| GP Margin (%) | 33.12 | 30.58 | 41.81 | |
| NP Margin (%) | 2.81 | 4.10 | 17.22 | |
| D/E Ratio (x) | 0.42 | 1.35 | 1.35 | |
| ROE (%) | 10.23 | 1.56 | 38.50 | |
| ROA (%) | 8.64 | 0.66 | 19.30 |
Dexon has seen exceptional growth for the past 27 years with the international expansion into foreign markets using funds generated through the recent IPO by implementing the following strategy:
Firstly, investing in research & development to capture customized need of clients.
Secondly, expanding into the U.S. pipeline inspection market. Dexon Technology USA Inc. was incorporated in 2023 to serve one of the largest and most complex pipeline markets in the world, with the plan to support industry Hydrogen Conversion in the near future.
Thirdly, expanding to European market by incorporating Dexon Europe BV in 2021 to capture the growth in European region.
Investors can learn more about Dexon’s sustainable business practices by clicking the following link: Sustainability (dexon-technology.com
- DEXON is a leading technology company providing intelligent in-line inspection ("ILI") services globally.
- DEXON having a team of 70 researchers who professionally create the innovation to serve the customized needs of clients.
- DEXON provides Advanced Non-Destructive Testing and Conventional Non-Destructive Testing globally.
- DEXON has generated an extensive network of satisfied long-term customers both locally and internationally which has produced stable revenue growth via repeat business.
Revenue 3M/2023
In the 1st Quarter of 2023, the company generated revenue through the sales of service totaling of 144.69 million baht, increasing by 40.38-million-baht (+38.72% YoY) revenue growth came from the following revenue streams:
- R&D Revenue increased by 17.15 million baht (+858% YoY) due to continued research projects with domestic customers.
- Revenue from Advance Inline Inspection (ILI) increased by 11.62 million baht (+51% YoY) due to an increase in the number of local and international awarded contracts.
- Revenue from Conventional Inspection Technology increased by 5.15 million baht (+25.6% YoY) from onshore and offshore clients.
- Revenue from Advance Non-Destructive Testing service increased by 3.9 million baht (+7% YoY) due to receiving more offshore service contracts.
Net Profits 3M/2023
In the 1st Quarter of 2023, the company saw net profits equal to 4.09 million baht, increased by 0.21 million baht (+5.3% YoY). Resulting in a Net profit margin of 2.8%. The net profit margin growth was less than revenue growth due to IPO expenses of 7.1 million baht.
1996 - Founded in Thailand with 2-million-baht registered capital. (Former name : DACON)
1990 - 1st phase of Intelligent Pigging Development
2007 - R&D teams successfully develop UT-R in-line inspection tools. Key Achievement of the company as a starting point of pipeline inspection services.
2016 - R&D teams successfully develop MFL in-line inspection tools for pipeline inspection in gas products.
2020-2021 - Company restructuring, increase of capital to 75.82 million baht and incorporation of subsidiaries.
2022 - The company name was changed to Dexon Technology Public Company Limited (DEXON) and registered capital was increased to 238.25 million baht.
2023 - 1st day trading on Thailand's Market for Alternative Investment (MAI) under the ticker code "DEXON" on the 31st of March,2023.
View Dexon’s Risk management policy here: risk-management-policy-th.pdf (dexon-technology.com) (Available in Thai only)
View awards and recognitions received by Dexon here: News (dexon-technology.com)
| as of 31/03/23 | DEXON | SERVICE | mai |
|---|---|---|---|
| P/E (X) | 20.94 | 50.41 | 66.21 |
| P/BV (X) | 2.66 | 3.28 | 2.85 |
| Dividend yield (%) | - | 1.48 | 1.26 |
| 31/03/23 | - | - | |
|---|---|---|---|
| Market Cap (MB) | 2,201.43 | N/A | N/A |
| Price (B/Share) | 4.62 | N/A | N/A |
| P/E (X) | 20.94 | N/A | N/A |
| P/BV (X) | 2.66 | N/A | N/A |