Conduct a high-quality furniture production and sales business with durability, unique design, up-to-date, attractive, and elegant products, creating diversity and distinctiveness in products that meet all customer needs in a comprehensive manner, covering all product groups such as office furniture, home furniture, kitchen furniture, importing materials and equipment used in furniture production, including interior decoration materials from leading countries around the world, by doing business in real estate and health-related businesses as well.
| 3M24 | 3M23 | 2023 | 2022 |
|---|
| Revenues | 469.82 | 555.62 | 2,576.84 | 2,434.47 |
| Expenses | 527.29 | 538.36 | 2,478.56 | 2,369.32 |
| Net Profit (Loss) | -62.84 | 4.10 | 60.03 | 39.05 |
| Assets | 3,280.62 | 3,335.20 | 3,275.21 | 3,351.93 |
| Liabilities | 1,047.10 | 1,036.07 | 967.91 | 1,066.47 |
| Shareholders' Equity | 2,225.69 | 2,290.79 | 2,299.24 | 2,277.50 |
| Operating | 88.76 | 8.59 | 313.83 | -38.31 |
| Investing | -2.95 | -18.17 | -7.70 | -238.52 |
| Financing | -0.39 | 42.65 | -111.54 | -52.94 |
| EPS (Baht) | -0.08 | 0.08 | 0.05 | |
| GP Margin (%) | 30.37 | 32.80 | 31.60 | 30.01 |
| NP Margin (%) | -13.43 | 0.80 | 2.33 | 1.62 |
| D/E Ratio (x) | 0.47 | 0.45 | 0.42 | 0.47 |
| ROE (%) | -0.31 | 2.33 | 2.62 | 1.70 |
| ROA (%) | 0.72 | 2.61 | 2.81 | 2.15 |
Main Business - The company aims to strengthen its organization and business foundation by setting a goal to be a leader in innovation that meets the real needs of customers, in order to be the number one brand in customers' minds. This is achieved through the delivery of high-quality products that meet international standards, emphasizing modern design, creating functional furniture that complements the lifestyle of modern people, as well as innovative products that benefit society through responsible design that prioritizes users' long-term health, is environmentally friendly.
Investment in Other Businesses - The company aims to invest in other businesses that create long-term sustainability.
Sustaining growth and driving the organization towards success, aiming to be one of the top brands in customers' minds, under a sustainable operation plan, with a distinctive marketing approach that prioritizes customers as the center (Consumer-centric). This is achieved by leveraging technology and innovation to improve operational processes or create new ones that suit the ever-changing business landscape of today, ensuring a superior customer experience that covers all aspects of business operations, organizational culture, and customer experience. Additionally, we focus on adding value to customers, eliminating non-value-added processes in production driving sustainable growth. This is achieved by integrating sustainability principles into our business strategy framework and incorporating them into our entire value chain, considering the impact on stakeholders and achieving a balance in social, environmental, and good governance aspects, aiming to become a sustainable brand.
In the first quarter of 2024, our company became the sole authorized importer and distributor of Chateau d'Ax products in Thailand, a high-quality furniture brand with a history of over 70 years, designing and manufacturing in Italy, a country renowned for its exceptional furniture quality.
Q1/2024, our company reported a total revenue of 466.5 million baht, a decrease of 94.2 million baht or 16.8% compared to the same period in 2023, broken down into a 114.6 million baht or 22.3% decline in sales revenue due to project delivery delays, 0.8 million baht or 2.6% decrease in rental and service income, 20.1 million baht or 275.7% increase in design and construction service income, and 1.1 million baht or 12.5% increase in other income.
1980, the company operated as an importer of furniture materials and interior decorations under the name of Home Decorative Products Co., Ltd.
1992, the company was listed on the Stock Exchange of Thailand under the name of Modernform Group Public Company Limited.
2019, the company invested in Workscape Co., Ltd., which manufactures and distributes office furniture and decorative products, and grand opened "Chiwamitra Hospital", a specialized cancer hospital in Ubon Ratchathani Province, operated by UICC Co., Ltd.
2020, the company invested in Built Dee Co., Ltd., which manufactures and distributes Fit-in furniture and provides interior decoration services for offices, hotels, condominiums, and residential buildings.
2021, the company invested in Lesmo Co., Ltd., which engages in buying, selling, and developing properties, including design, construction, renovation, and decoration services.
2022, the company invested in CHAROENSUP KAMLUNG 3 Co., Ltd., which imports luxury furniture and decorative materials from abroad, and opened the "Modernform FORTY9" showroom located on Sukhumvit 49, under the concept of "House of Fulfilled Living", and the "Modernform Ratchaphruek" showroom on Ratchaphruek Road.
2023, Modernform Health and Care PCL.invested in Back in Motion Co., Ltd., which provides physical therapy services.
Our company recognizes the importance of risk management and, under the supervision of the Risk Management Committee, has established guidelines in accordance with the standards of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Therefore, the committee, management, and all employees of the company adhere to these standards in managing risks and use them as a tool to determine strategies and operations, including various processes within the organization, to ensure that risks are managed at an acceptable level and to achieve the company's objectives with confidence and efficiency.
"The European Product Design Award" with a Silver award in the Design for Society/Designs for Social Impact category and a Bronze award in the Design for Sustainable Living Environmental Preservation/Urban Sustainable Design category for our product design "CAPCON". Additionally, we have been recognized with various design awards, such as the Red Dot Design Award, European Product Design Award, DNA Paris Design Awards, Design Excellent Award (DeMark), GOOD DESIGN Awards, The Golden Pin Design Awards, and iF Design Awards, and were shortlisted in Industrial Design from the Sky Design Awards. Furthermore, we have been ranked as one of the Top 5 Sellers on the NocNoc platform in the Home & Living category.
| as of 29/03/24 | MODERN | HOME | SET |
|---|---|---|---|
| P/E (X) | 28.23 | 18.46 | 18.10 |
| P/BV (X) | 0.74 | 0.61 | 1.33 |
| Dividend yield (%) | 3.98 | 1.58 | 3.38 |
| 29/03/24 | 28/12/23 | 30/12/22 | |
|---|---|---|---|
| Market Cap (MB) | 1,695.00 | 1,875.00 | 2,535.00 |
| Price (B/Share) | 2.26 | 2.50 | 3.38 |
| P/E (X) | 28.23 | 27.49 | 65.97 |
| P/BV (X) | 0.74 | 0.82 | 1.12 |