HMPRO : HOME PRODUCT CENTER PUBLIC COMPANY LIMITED
6M/2024 (Jan - Jun 2024)
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
6M24 6M23 2023 2022
Income Statement (MB)
Revenues 37,353.59 37,168.61 72,821.77 69,389.43
Expenses 32,872.06 32,892.45 64,307.02 61,301.82
Net Profit (Loss) 3,334.54 3,230.99 6,441.56 6,217.09
Balance Sheet (MB)
Assets 66,448.60 63,150.45 69,047.89 65,184.74
Liabilities 40,442.81 38,436.75 43,489.10 40,938.86
Shareholders' Equity 26,005.79 24,713.70 25,558.78 24,245.88
Cash Flow (MB)
Operating 5,019.73 4,845.89 9,792.49 9,951.98
Investing -1,580.53 -2,842.75 -5,244.55 -5,509.17
Financing -6,313.18 -5,415.47 -3,535.84 -3,567.59
Financial Ratio
EPS (Baht) 0.25 0.25 0.49 0.47
GP Margin (%) 27.00 27.03 27.45 26.98
NP Margin (%) 8.93 8.69 8.85 8.96
D/E Ratio (x) 1.56 1.56 1.70 1.69
ROE (%) 25.81 26.73 25.87 26.38
ROA (%) 13.48 13.76 12.69 13.07
Business Plan
  1. 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.
  2. 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.
  3. 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 first half of the year was THB 3,334.54 million, an increase of THB 103.55 million or 3.20% compared to the same period of the previous year.
  • Revenues: Total revenue amounted to THB 37,322.83 million, an increase of THB 168.29 million or 0.45%. Total revenue is comprised of the following:

1) Revenue from contracts with customers which includes revenue from the sale of goods and revenue from Home Service, amounted to THB 35,062.01 million, a marginal increase of THB 49.71 million or 0.14% compared to the same period of the previous year. 

2) Rental income amounted to THB 908.84 million, a decrease of THB 31.75 million or 3.38% from the previous year.

3) Other income amounted to THB 1,351.98 million, an increase of THB 150.32 million or 12.51% compared to the same period of the previous year.

Key Milestones
  • In the previous year the company had held a HomePro Fair event in Chiang Mai during the second quarter of 2023, but this event was suspended this year. As a result of these factors, overall sales decreased slightly compared to the previous year. Nevertheless, the company organized the HomePro Super Expo event from April 4-8, 2024, both in-store and online, and continued to hold monthly Double Day events to maintain sales, profit margins, and market share. 
  • Regarding store expansion in the second quarter, the company opened two new stores: HomePro Lamphun and Mega Home Udon Thani. As of the end of 2024 second quarter, there are 90 HomePro stores, 5 HomePro S stores, 28 MegaHome stores, and 7 HomePro Malaysia stores. 
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
Revenue from contracts 75.5% Revenue from subsidiaries 18.5% Other income 6%
Stock Information
SET / SERVICE / COMM
Closing price HMPRO SET index 16.00 11.00 6.00 1605.00 1474.00 1343.00 1212.00 3-7-23 29-9-23 28-12-23 26-3-24 28-6-24
as of 28/06/24 HMPRO COMM SET
P/E (X) 18.59 24.81 17.05
P/BV (X) 4.46 1.80 1.22
Dividend yield (%) 4.32 2.31 3.53
28/06/24 28/12/23 30/12/22
Market Cap (MB) 121,648.58 153,869.02 203,843.57
Price (B/Share) 9.25 11.70 15.50
P/E (X) 18.59 23.98 32.16
P/BV (X) 4.46 6.44 9.02
CG Report:
Company Rating:
AA-/TRIS
Major Shareholders
as of 23/04/2024
Land and Houses Public Company Limited (30.23%)
Quality Houses Public Company Limited (19.87%)
Thai NVDR Company Limited (5.75%)
Mr. Niti Osathanuklor (5.06%)
THE BANK OF NEW YORK MELLON (3.27%)
Others (35.82%)
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.
Published on 12/09/2024