COM7 distributes IT products such as laptops, desktop computers, mobile phones, tablets, related accessories and product repair services. COM7 is the largest IT chain store in term of branches. COM7 distributes IT products via its own branches which are retail stores in leading department stores, shopping malls, and hypermarkets covering Bangkok and upcountry provinces.
| 2023 | 2022 | 2021 | 2020 |
|---|
| Revenues | 69,641.67 | 63,025.62 | 51,154.66 | 37,352.90 |
| Expenses | 65,954.83 | 59,090.15 | 48,041.98 | 35,581.96 |
| Net Profit (Loss) | 2,857.17 | 3,037.71 | 2,630.39 | 1,490.68 |
| Assets | 22,976.25 | 19,162.45 | 15,965.74 | 9,206.72 |
| Liabilities | 14,788.64 | 11,910.55 | 10,664.99 | 5,335.89 |
| Shareholders' Equity | 8,046.76 | 7,154.47 | 5,284.86 | 3,852.29 |
| Operating | 909.90 | 1,643.72 | 559.81 | 2,308.37 |
| Investing | -1,352.40 | -2,434.55 | -715.18 | -515.94 |
| Financing | 854.64 | 463.36 | 940.10 | -2,224.33 |
| EPS (Baht) | 1.19 | 1.27 | 2.19 | 1.24 |
| GP Margin (%) | 13.23 | 13.45 | 13.39 | 12.63 |
| NP Margin (%) | 4.21 | 4.86 | 5.14 | 4.00 |
| D/E Ratio (x) | 1.81 | 1.64 | 2.01 | 1.38 |
| ROE (%) | 37.59 | 48.84 | 57.58 | 41.26 |
| ROA (%) | 17.82 | 22.41 | 25.67 | 20.43 |
The Company is committed to leading the distribution of cutting-edge technology products with excellent service through efficient management by a high-performing team. Its goal is to foster sustainable growth under responsible business governance throughout the value chain, taking into account the impact on stakeholders, society, and the environment. The company believes that operating sustainably is a crucial foundation for promoting stable organizational growth
The Company has expressed its dedication to achieving Net Zero organization by the year 2050 aligning with the objectives of the Paris Agreement.
At the end of Y2023, the Company had a total of 1,356 branches, an increase of 194 branches from Y2022 (Y2022: 1,162 branches). These branches consist of BaNANA, Studio7, U-Store, iCare, Bb, B-Play, BKK, KingKong Phone, BaNANA Franchise, E-quip, BeBePhone, True Shop by Com7, PetPaw, Dr.Pharma, Aion, and Brand shop.
The performance result for Y2023, the Company's revenue from sales and services amounted to 69,560 million Baht, an 11% YoY increase. However, the growth rate was lower than anticipated due to the ongoing economic recovery, coupled with delayed consumer spending, especially during the fourth quarter, which is the Company's peak season. This delay was attributed to consumers awaiting the implementation of tax deduction measures scheduled for January 1st, 2024. Consequently, the Company intensified its sales promotions during this period to maintain sales momentum, resulting in a 11.6% decrease in the gross profit ratio for the fourth quarter and 13.2% for the year. However, the Company expects consumer demand to improve in the following quarters.
SG&A expenses amounted to 5,484 million Baht, accounting for 7.8% of total revenue, an increase of 899 million Baht from Y2022. This increase primarily stemmed from the expansion of branches and closures for renovation throughout the year to enhance store attractiveness. During the closure and renovation periods, the Company continued to incur various expenses such as employee salaries, depreciation, rental cost, and other related costs.
Financial Cost amounted to 232 million Baht, an increase of 129 million Baht from Y2022 due to higher interest rates and increased short-term loan for purchasing products and expansion.
Profit owners of the parent amounted to 2,857 million Baht, declining by 6% YoY.
Com7 Holding company limited (Subsidiary)
Fourpaw Co. Ltd. changed its name from BNN Online co. Ltd in February 2023 to cinduct the business of selling pet food and supply. It also increased its registered capital from 5 million Baht to 30 million Baht.
iCare Insurance Public Co. Ltd. changes its named from Phutthatham Insurance Public Co. Ltd. in January 2023. It also increased its registered capital from 1,236.5 million shares to 1,401.7 million shares. This resulted in the Company's shareholding percentage in the subsidiary decreasing to 86.17% (previously 96.75%).
Gold Integrated Co. Ltd., in September 2023, Com7 Holding Co. Ltd. invested in Gold Integrated Co. Ltd. by holding a 40% stake to engage in the business of distributing electric vehicles under the Aion brand.
The Company regularly assesses organizational risks and incorporates risk management into annual business planning, guided by the following policy:
- Cultivating a culture of risk management among all executives and employees.
- Establish quality risk management processes, guidelines, and measures.
- Operate within acceptable risk levels, setting defined limits to mitigate potential losses.
- A 5-star "Excellent CG Scoring" rating in Y2023 from IOD.
- A SET ESG Ratings "A" from SET.
| as of 28/12/23 | COM7 | COMM | SET |
|---|---|---|---|
| P/E (X) | 18.32 | 27.98 | 18.42 |
| P/BV (X) | 7.58 | 2.06 | 1.36 |
| Dividend yield (%) | 3.17 | 1.87 | 3.32 |
| 28/12/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 57,119.96 | 81,599.94 | 98,100.00 |
| Price (B/Share) | 23.80 | 34.00 | 81.75 |
| P/E (X) | 18.32 | 26.72 | 43.04 |
| P/BV (X) | 7.58 | 12.78 | 22.42 |
