Business Overview
- The Company was established with the objective to operate a retail business in home improvement segment by offering products and complete range of services relating to construction, extension, refurbishment, renovation, makeover and improvement of buildings, houses, and residential places through One Stop Shopping Home Center, under the trade name of “HomePro” to serve home-owner customers and the trade name of “Mega Home” to serve technicians and contractors, which is the Company’s trademark.
Financial Statement
| 2023 | 2022 | 2021 | 2020 |
|---|
Income Statement (MB)
| Revenues | 72,821.77 | 69,389.43 | 63,925.79 | 61,765.43 |
| Expenses | 64,307.02 | 61,301.82 | 56,883.05 | 55,116.58 |
| Net Profit (Loss) | 6,441.56 | 6,217.09 | 5,440.52 | 5,154.70 |
Balance Sheet (MB)
| Assets | 69,047.89 | 65,184.74 | 58,586.35 | 56,090.77 |
| Liabilities | 43,489.10 | 40,938.86 | 35,695.91 | 34,525.53 |
| Shareholders' Equity | 25,558.78 | 24,245.88 | 22,890.43 | 21,565.24 |
Cash Flow (MB)
| Operating | 9,792.49 | 9,951.98 | 7,825.41 | 8,362.88 |
| Investing | -5,244.55 | -5,509.17 | -1,673.08 | -3,144.81 |
| Financing | -3,535.84 | -3,567.59 | -4,915.31 | -4,797.48 |
Financial Ratio
| EPS (Baht) | 0.49 | 0.47 | 0.41 | 0.39 |
| GP Margin (%) | 27.45 | 26.98 | 26.31 | 26.26 |
| NP Margin (%) | 8.85 | 8.96 | 8.51 | 8.35 |
| D/E Ratio (x) | 1.70 | 1.69 | 1.56 | 1.60 |
| ROE (%) | 25.87 | 26.38 | 24.48 | 24.14 |
| ROA (%) | 12.69 | 13.07 | 12.28 | 12.30 |
Business Plan
- COMPANY DATABASE SYSTEM DEVELOPMENT PROJECT: To compile company database through various systems in regard to access information related to sales, procurement, including inventory level. The data will be used at several circumstances mainly for efficiency enhancement such as to make the appropriate order forecast based on purchasing and product selling transactions, which will reflect to sufficient goods in respond to customer demands and the proper inventory level.
- E-COMMERCE PLATFORM SYSTEM DEVELOPMENT PROJECT: To develop for better efficiency in response to suitable product type along with customer demands such as the recommendation for quantity of ceramic tiles usage or the suggestion with respect to appropriate size of air conditioner to be installed that match with each room based on the calculation.
- PRIVATE BRAND DEVELOPMENT PROGRAM: the development, design and ordering of various products in order to offer products that align with customer’s needs while also prioritizing environmental and social considerations.
Sustainable Development Plan
- Environmental-Friendly Products
- Circular Economy and Waste Management
- Green Transport and Supply Chain
- Customer care and convenient service to meet every customer need
- Associates Care
- Social and Community Development
- Supplier Sustainable Code of Conduct
Business Highlight
- The company aims to be a leading company in the Home Solution and Living Experience business in Thailand and Southeast Asia by focusing on the development of the entire value chain system to develop products and services under the One Stop Shopping concept while delivering sustainability to the environment, society and business at the same time.
Performance and Analysis
Business Performance Summary
- Net Profit: The Company’s net profit for the year of 2023 was Baht 6,441.56 million, representing an increase of Baht 224.47 million or up 3.61% as compared to the previous year.
- Revenues: Total revenues were Baht 72,821.77 million, an increase of Baht 3,432,34 million or up 4.95%, comprising of the following
1) Revenue from contracts with customers which comprised of product sales revenue and service income of Home Service was Baht 68,283.31 million, representing an increase of Baht 3,192.43 million or up 4.90% year-over-year.
2) Rental and service income amounted to Baht 1,882.23 million, an increase of Baht 161.65 million or up 9.39% from previous year.
3) Other income was Baht 2,656.23 million, an increase of Baht 78.27 million or up 3.04%.
Key Milestones
- The Company has introduced an ‘Old for New’ project in collaboration with external partners to encourage sustainability, known as the ‘Trade-In’ program. This focuses on an inclusive and proper waste management system to create a closed-loop supply chain contributing towards the Circular economy.
- In 2023, the Company opened 3 new HomePro stores: at Bang Bua Thong, at Phuket (Chaofa), and at Seacon Bangkae. This last store replaces the former store at Lotus Bangkae, which was relocated in the nearby area in order to provide more selling space for greater convenience. Besides, the Company opened 9 Mega Home stores at Rattanathibet, Bang Phli, Tiwanon, Nakhon Pathom, Chiang Mai, Bangsaen, Pluak Daeng, Thung Song and Phuket (Chaofa). At the end of 2023, there were 89 HomePro stores, 5 HomePro S stores, 27 Mega Home stores, 7 HomePro Malaysia stores. For the business in Vietnam, the Company still primarily distributes products via an e-marketplace.
Risk Management Policy
- Economic Volatility: The Company foresees opportunities on store expansion continuously, tracks the performance of stores and develops a marketing plan for sales promotion activities with business partners.
- Inventory Management: The Company aims to increase its inventory turnover such as expand distribution channel via online system, service improvement of sales associates, promotional activities, schematic management and interior design of stores, regularly adding new product items in order to increase numbers of customers, sales volumes, and efficiency of inventory management at an optimal level.
Recent Awards and Recognitions
- Listed as a member of Dow Jones Sustainability Index (DJSI) in emerging market for the seventh consecutive year in 2023.
- Listed in FTSE4Good Index, an award that recognizes organizations for their environmental, social and good corporate governance responsibility, together with promote investor confidence across countries.
- Selected to be included in SET ESG Ratings, AA level of The Stock Exchange of Thailand of the year 2023.
Revenue Structure
Stock Information
SET / SERVICE / COMM
| as of 28/12/23 | HMPRO | COMM | SET |
|---|---|---|---|
| P/E (X) | 23.98 | 27.98 | 18.42 |
| P/BV (X) | 6.44 | 2.06 | 1.36 |
| Dividend yield (%) | 3.25 | 1.87 | 3.32 |
| 28/12/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 153,869.02 | 203,843.57 | 190,692.37 |
| Price (B/Share) | 11.70 | 15.50 | 14.50 |
| P/E (X) | 23.98 | 32.16 | 36.60 |
| P/BV (X) | 6.44 | 9.02 | 9.06 |
CG Report:
Company Rating:
AA-/TRIS
Major Shareholders
as of 13/03/2024
Company Information and Contact
http://www.homepro.co.th
ir@homepro.co.th
02-832-1416
31 Prachachuennonthaburi Rd., Bangkhen, Amphoe Muang Nonthaburi 11000
Other Trading Info. :
https://www.settrade.com/C04_01_stock_quote_p1.jsp?txtSymbol=HMPRO
Remarks: This document is prepared by the listed company and aimed to disseminate the listed company’s information to investors for only investment decision support. The listed company does not give investment advice or recommendation regarding the listed company’s securities. Before making investment decisions, investors should study additional information and seek advice from relevant professionals. In no event shall the listed company be responsible for any loss or damage arising from the use of the information contained herein. The listed company reserves the right to amend the content specified in this document without prior notice. Unless otherwise permitted by the listed company, copy, modification, or dissemination of this document or the content contained herein is prohibited. In case there is any questions regarding the listed company’s information, the investors may seek for additional information from the report or information which the listed company has disclosed through the Office of the Securities and Exchange Commission’s and/or the Stock Exchange of Thailand’s channel.
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