- Domestic and international sale of sport clothing and equipment, everyday wear and casual clothing.
- Provide sports-related health services such as Physiotherapy & Performance Studio, Sports Science Center (Warrix Run Hub), Fitness and Nutrition Educator (Fit Junction).
| 3M23 | 3M22 | 2022 | 2021 |
|---|
| Revenues | 257.28 | 193.14 | 1,074.62 | 658.09 |
| Expenses | 243.10 | 173.44 | 906.43 | 622.34 |
| Net Profit (Loss) | 11.07 | 12.45 | 128.49 | 14.24 |
| Assets | 1,906.58 | 861.00 | 1,878.87 | 746.56 |
| Liabilities | 454.70 | 740.60 | 438.38 | 571.30 |
| Shareholders' Equity | 1,451.88 | 120.50 | 1,440.49 | 175.27 |
| Operating | -113.27 | 160.79 | 49.38 | 14.02 |
| Investing | -53.43 | -195.89 | -256.36 | 1.19 |
| Financing | -36.07 | -104.45 | 726.10 | 6.47 |
| EPS (Baht) | 0.02 | 0.06 | 0.35 | 1.42 |
| GP Margin (%) | 44.95 | 44.98 | 46.27 | 45.11 |
| NP Margin (%) | 4.30 | 6.45 | 11.96 | 2.16 |
| D/E Ratio (x) | 0.31 | 0.30 | 0.30 | 3.26 |
| ROE (%) | 12.91 | 20.53 | 15.90 | 8.12 |
| ROA (%) | 11.90 | 6.71 | 12.81 | 4.79 |
WARRIX creates brand awareness with license marketing strategy by being a sportswear distributor and extending to become a Sport - Health & Lifestyle brand. Reaching into all types of customers, such as athletes, sports fans, health lovers, young generation, and working people. WARRIX is developing business in 3 areas as follows:
1) Sport & Active Lifestyle: Expand sports clothing and equipment segment to cover more types of sports such as running, training, golf, basketball, and table tennis. Expand product portfolio to women's products, footwear, and lifestyle clothing. Including, Warrix Lifestyle @ Siam Square project to penetrate into a new higher-value market.
2) Health: Plan to expand health business; Warrix Run Hub at QSCC, which is the second sports science center, including a new project on Rama IX Road. Enhancing service quality and increased revenue growth of health business by acquiring all digital and intellectual properties of Fit Junction.
3) Event & Explorer: Expanding customer base by combining sports-related experience with a wide range of events, such as running events, music festivals, food events, and other events related to Sport - Health & Lifestyle.
- Unique & modern design with exclusive innovation serving various needs of customers. Global brand quality products at an affordable price.
- Strong partnerships derived from licenses of Thai national football team, football clubs, educational institutions, organizations, and regional sports events to enhance brand awareness.
- Extensive distribution channel directly reaching customers.
- Data-driven with marketing strategy to increase efficiency by planning production orders, pricing, managing distribution channels, marketing campaigns, and business partnerships.
- Growing along the wave of healthy lifestyles and government policies that promote Thailand as the World's Best Sports Tourism Destination.
In 1Q23, WARRIX generated revenue from sales and services of 249.82 MB, which increased by 30.71% YoY. COGS also increased at the same growth rate as revenues. Moreover, SG&A increased due to recruitment expenses, an increased number of employees, and investment in data management systems to support the company's long-term growth. As a result, WARRIX had net profit of 11.07 MB and had total comprehensive income of 11.39 MB, which slightly declined by 7.05% YoY.
According to separate financial statements, net profit was 15.55 MB, which increased by 20.32% YoY. But considering the consolidated financial statements, WARRIX's net profit for 1Q23 declined by 7.05% YoY because the first quarter is the end of the international football season, which affects low sales. Moreover, there are discounts for season-ending sales. WARRIX acquired such subsidiary in Singapore at the end of January 2023, so during the first quarter, the company was revising the products’ sale plan and increasing marketing to generate more sales.
2023: Acquired Fit Junction and Premier Football in Singapore.
2022: Capital increase to 300 MB by issuing 180 M of new ordinary shares for IPO. Listed on mai and started trading on December 21, 2022.
2021: Win the rights to produce Thai national football team and basketball team sportswear for 8 years and 5 years, respectively. Establised Warrix Sdn. Bhd. in Malaysia.
2020: Established Warrix Holding Pte. Ltd. in Singapore
2018: Win the rights to produce Myanmar national football team sport wear products for 6 years.
2016: Win the rights to produce Thai national football team sport wear products for 4 years.
2013: Established Warrix Sport Co., Ltd.
1) Risk from slow-moving or obsolete inventories: WARRIX will sell products at discount prices with marketing campaign, transform into products that are easier to sell, expand distribution channels in line with demand, and use data to analyze sales and customer needs for each distribution channel and manage efficient supply chain.
2) Risk from the obligations in business agreements: For Licensed products, WARRIX has assessed risk-return and feasibility studies before entering into contracts to support sports teams and periodically re-assess. WARRIX also diversify risks by developing product under WARRIX's brand (Non-Licensed) as well as expanding new channels for selling products related to health and fitness to increase the proportion of Non-Licensed products and services.
3) Risk from the dependency of a few major suppliers: WARRIX has an efficient procurement process and sourcing for new quality suppliers. In addition, suppliers are easily sourced domestically and internationally.
| as of 31/03/23 | WARRIX | CONSUMP | mai |
|---|---|---|---|
| P/E (X) | 51.83 | 44.53 | 66.21 |
| P/BV (X) | 4.62 | 2.16 | 2.85 |
| Dividend yield (%) | 1.71 | 1.86 | 1.26 |
| 31/03/23 | 30/12/22 | - | |
|---|---|---|---|
| Market Cap (MB) | 6,660.00 | 4,320.00 | N/A |
| Price (B/Share) | 11.10 | 7.20 | N/A |
| P/E (X) | 51.83 | 42.31 | N/A |
| P/BV (X) | 4.62 | 3.05 | N/A |