Engage in the business of distributing complete range of furniture and home decorative items including kitchen furniture set, office furniture, outdoor furniture, electrical appliances, lighting products, decorative products and materials, household items, beddings, exercise equipment, and various products or technological equipment under the store's name "Euro Creations" and other stores under other brands
| 2023 | 2022 | 2021 | 2020 |
|---|
| Revenues | 1,274.76 | 1,068.45 | ||
| Expenses | 1,058.23 | 882.38 | ||
| Net Profit (Loss) | 162.52 | 106.16 |
| Assets | 1,446.77 | 1,244.69 | ||
| Liabilities | 1,259.29 | 1,023.72 | ||
| Shareholders' Equity | 184.76 | 172.07 |
| Operating | 125.30 | 207.84 | ||
| Investing | -81.25 | 36.32 | ||
| Financing | -98.55 | -177.00 |
| EPS (Baht) | 0.65 | 106.16 | ||
| GP Margin (%) | 47.05 | 46.95 | ||
| NP Margin (%) | 12.75 | 12.72 | ||
| D/E Ratio (x) | 6.72 | 4.63 | ||
| ROE (%) | 91.09 | 61.70 | ||
| ROA (%) | 16.47 | 14.93 |
Home & Living
- Mono-brand stores: Opening dedicated stores for brands, such as Molteni&C and Poltrona Frau (Thonglor Soi 5 showroom - under construction, expected to be completed in Q3 2024).
- Multi-Brand Stores: Developing multi-brand centers to provide a one-stop solution, featuring brands like Natuzzi Italia, Calligaris, and Gessi (Thonglor, CDC, and Siam Paragon showrooms).
- New Premium Brands: Expanding the market by adding new premium brands with diverse designs and prices (Thonglor Soi 1 showroom - under construction, expected to be completed in 2026).
Lifestyle
- Adding luxury lifestyle brands with a focus on opening more showrooms, such as Technogym and Frette.
The company recognizes the importance of conducting business in alignment with the United Nations' Sustainable Development Goals (SDGs) and is committed to responsible business practices concerning environmental, social, and governance (ESG) aspects. The company emphasizes ethical, moral, and principled business conduct, with consideration for stakeholders, the economy, society, and the environment. The company adheres to legal and relevant governance principles through its Sustainability Management Policy, which encompasses environmental, social, and governance aspects. This policy serves as a guideline for conducting business responsibly and sustainably across these three areas.
Euro Creations Public Company Limited is the exclusive distributor in Thailand for luxury global brands in both the Home & Living and Lifestyle sectors. These brands include Molteni&C, Natuzzi Italia, Cassina, Poltrona Frau, Calligaris, Giorgetti, Frette, and Technogym, among others. The company operates a total of 7 showrooms and pop-up stores, all strategically located in prime competitive locations at the heart of Thailand's Design District.
The company has a strong customer base with high purchasing power, which has been recorded in the company’s database since 2012. In 2022, all operational systems were integrated to maximize customer care and create sales opportunities.
The company has a management team with vision, experience, and expertise in the luxury business in Thailand for over 25 years. This is evidenced by past performance, where the company has maintained an EBITDA margin of over 20% since 2020.
Key Operating Results: For the year 2023, the company reported revenue from sales and services of 1,262.76 million Baht, with a gross profit margin of 47.05%. The proportion of selling expenses improved compared to the previous year, while administrative expenses slightly increased due to higher employee costs to support business expansion and expenses related to preparing for listing on the stock exchange in 2024. Consequently, the net profit margin for the period was 12.75%.
Key Financial Ratios: For the year 2023, the company had an EBITDA margin of 22.53%.
Industry Outlook: In 2023, the overall performance of the company is expected to trend positively, supported by various factors. These include the continuous growth of the luxury real estate industry in Thailand, evidenced by the rapid development of luxury housing projects, condominiums, and office buildings. Additionally, the ongoing trend of health and fitness through exercise, along with the popularity of using branded products, continues to have a positive impact on the company's business operations.
- In 2023, the company signed exclusive dealership agreements in Thailand with 3 global brands: Frette, Poltrona Frau, and Haworth.
The company recognizes the importance of enterprise risk management (ERM) and has implemented risk management and established a risk management policy using the ERM framework in accordance with COSO guidelines. This is to manage risks effectively at all levels of the organization by identifying, assessing, and managing unexpected risks to mitigate potential impacts. Additionally, risk management is integrated with strategic planning, operations, and decision-making processes to enhance corporate governance and operational efficiency. The company has clearly defined risk management responsibilities in every department and continuously improves and updates the risk management process, including the use of information technology to ensure that the risk management reporting system is efficient and up-to-date, supporting sustainable business growth.
| as of 31/12/23 | EURO | CONSUMP | mai |
|---|---|---|---|
| P/E (X) | N/A | 140.92 | 109.18 |
| P/BV (X) | N/A | 1.58 | 2.17 |
| Dividend yield (%) | N/A | 1.93 | 1.53 |
| 31/12/23 | - | - | |
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| Market Cap (MB) | N/A | N/A | N/A |
| Price (B/Share) | N/A | N/A | N/A |
| P/E (X) | N/A | N/A | N/A |
| P/BV (X) | N/A | N/A | N/A |