The Company operates as a holding company of the group which the main business are to manufacture the automotive part and agriculture machinery.
| 6M23 | 6M22 | 2022 | 2021 |
|---|
| Revenues | 4,513.31 | 9,093.39 | 8,717.74 | |
| Expenses | 3,998.05 | 8,046.59 | 7,680.30 | |
| Net Profit (Loss) | 469.29 | 939.97 | 952.65 |
| Assets | 10,093.06 | 10,350.80 | 9,830.11 | |
| Liabilities | 2,424.24 | 2,384.51 | 2,187.70 | |
| Shareholders' Equity | 7,648.82 | 7,950.51 | 7,642.41 |
| Operating | 793.56 | 1,218.39 | 1,379.07 | |
| Investing | 488.02 | -174.31 | -1,267.94 | |
| Financing | -478.96 | -647.69 | -489.99 |
| EPS (Baht) | 1.10 | 2.21 | 2.24 | |
| GP Margin (%) | 17.74 | 18.09 | 19.25 | |
| NP Margin (%) | 10.40 | 10.29 | 10.96 | |
| D/E Ratio (x) | 0.32 | 0.30 | 0.29 | |
| ROE (%) | 11.47 | 12.06 | 12.97 | |
| ROA (%) | 10.38 | 10.68 | 11.92 |
The company has set the Strategic Directions as follows:
1) S: Strengthen core competencies to gain competitive advantages and enhance global market expansion :
- Build a strong core competency by creating cost advantages to be able to compete in the world market.
- Asset optimization.
- Using core competency to develop new products.
2) B: Broaden into future automotive market (xEV) with new materials, processes, and/or business models:
- Using core competency to develop new products.
- Diversify into EV Platform industry through JV company.
3) G: Grow new businesses by leveraging on current assets.
- Diversify into automation industry and system integration through JV Company.
- Develop and upgrade tools and equipment for agricultural machinery.
Key Pillars of Sustainability
1.) Environmental: The goal is to reduce greenhouse gas emissions by 30% by 2030 compared to the 2018 baseline.
2.) Social: Create Value for Society
- Human Capital Development Develop human capital with the potential to be ready for organizational changes. Maintain employee’s engagement.
- Creating Shared Value (CSV) Project Develop the value of individuals, the company and communities in order to grow together, with the goal more than 0.1% of revenue by 2026.
3.) Governance: Moral integrity and Transparency
- Corporate Governance Enhance stakeholder trust and raise awareness of anti-corruption efforts.
- Risk and Business Continuity Management Use risk management and business continuity to safeguard the company and build customer trust.
- Customer Relationship Management Establish customer relationships to exceeds than expectations.
- In April 2023, SAT established a new company named “Somboon Advance Agriculture Co.,Ltd.” (SAA) with the purpose to expand existing agriculture product line by further developing from a single part to value added component set for customer
- In June 2023, SAA started operation
SAT 2Q2023 performance had resulting sales revenue 2,153 million baht, decreased -14.5% from 1Q2023 (QoQ) resulting from seasonal decline of automotive business and EL Nino effect on agriculture business. However, compared to 2Q2022 (YoY) sales revenue increased +2.3% mainly from new orders which started mass production in 2Q2022 (product: axle shaft and intermediate shaft).
Net profit 2Q2023 was 223 million baht, sales revenue decreased -18.7% from 1Q2023 (QoQ) due to decrease in sales revenue. However, compared to 2Q2022 (YoY) net profit increased +6.1% due to increase in sales revenue and improve profit margin.
- In Dec’2022, joint venture company; STRON sign MOU with E-Tuk Factory (ETF) (a Netherland partner) to be a manufacturing hub to produce SMART E-Tuk in order to serve logistics business and services business both in Thailand and worldwide
- In Jan’2023, SAT sign MOU with WICE Logistics to mutually study land development of Somboon Group
- Established Somboon Advance Agriculture Co.,Ltd. (SAA) in April’2023 and started production in Jun 2023
- End of 3Q2023, STRON will start production
Somboon Group has adopted risk management system under the global standard of COSO ERM 2017 as part of corporate governance to control and minimize impact from risk within acceptable level by setting working team at functional risk level in order to monitor KRI (Key Risk Indicator) and to report to enterprise risk management committee to evaluate, determine risk management plan and business continuity plan.
In 2022:
- Change Agent Award 2022: from the Thai Private Sector Collective Action Against Corruption (CAC)
- Winning the first runner-up Silver award for Kaizen Suggestion System (KSS) from Technology Promotion Association (Thailand-Japan)
- Winner Golden Award Golden Award in the “New Born” category of the Thailand Quality Prize Award 2022 (National level QCC): from Technology Promotion Association (Thailand-Japan)
- Amata Best Waste Awards Platinum Con. (Excellence) from Amata City Industrial Estate, Rayong
- Investors’ Choice Award 4th from Thai Investor Association
- Sustainability Awards of Honor from The Stock Exchange of Thailand (SET)
- Be chosen to be listed as "Sustainable Shares" of Thailand Sustainability Investment (THSI)
- Corporate Governance Report of Thai Listed Companies (CGR): (Excellent CG Scoring)
In 2023:
- Winner QCC Kaizen Golden award Junior Manufacturing QCC: from Technology Promotion Association (Thailand-Japan)
- Renew membership of Thai Private Sector Collective Action Against Corruption: CAC)
| as of 30/06/23 | SAT | AUTO | SET |
|---|---|---|---|
| P/E (X) | 8.41 | 13.28 | 17.96 |
| P/BV (X) | 0.98 | 1.25 | 1.46 |
| Dividend yield (%) | 7.94 | 4.30 | 3.12 |
| 30/06/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 8,036.16 | 8,929.07 | 9,269.23 |
| Price (B/Share) | 18.90 | 21.00 | 21.80 |
| P/E (X) | 8.41 | 9.84 | 9.15 |
| P/BV (X) | 0.98 | 1.15 | 1.24 |
