FSX operates primarily as a holding company, with investments in other companies. Its core business includes securities brokerage, investment banking, and investment advisory services, conducted through its subsidiaries and associate.
| 2024 | 2023 | 2022 | 2021 |
|---|
| Revenues | 1,528.22 | 1,648.90 | 2,400.38 | |
| Expenses | 1,634.90 | 1,794.62 | 2,139.25 | |
| Net Profit (Loss) | -63.01 | -195.15 | 203.47 |
| Assets | 5,697.32 | 6,022.88 | 8,013.64 | |
| Liabilities | 2,098.60 | 3,432.39 | 5,169.60 | |
| Shareholders' Equity | 3,592.26 | 2,583.78 | 2,836.78 |
| Operating | -86.26 | -47.04 | 514.87 | |
| Investing | -12.39 | -93.73 | -582.78 | |
| Financing | 452.06 | 37.89 | 343.11 |
| EPS (Baht) | -0.09 | -0.34 | 0.35 | |
| GP Margin (%) | 85.16 | 82.11 | 86.06 | |
| NP Margin (%) | -7.43 | -9.13 | 8.48 | |
| D/E Ratio (x) | 0.58 | 1.32 | 1.82 | |
| ROE (%) | -2.04 | -7.19 | 7.35 | |
| ROA (%) | -1.08 | -2.79 | 2.70 |
FSX remains committed to driving business growth, adapting to the changing competitive landscape and evolving revenue structure, in response to technological challenges and advancements.
Business Growth: FSX focuses on growth through investments to enhance capabilities and achieve sustainable growth. This includes expanding wealth management services in Thailand through Private Fund. FSX also aims to expand securities lending services through FSS by increasing credit balance for clients and adjusting policies to align with international standards to meet the growing demand from securities trading.
Digital and Technology: FSX emphasizes adapting to digital changes by developing the Finansia HERO platform to enhance customer service and improve interactions.
Talent Development and Organizational Culture: FSX emphasizes strengthening its workforce and corporate culture by building a team with diverse expertise, promoting innovation, and developing businesses in the digital age to expand capabilities and attract talented professionals.
Green Investment: FSX focuses on investing in projects and technologies related to climate change to support sustainability and reduce environmental impact, aiming for Net Zero. This will help create new opportunities in the capital market that align with future growth.
Environmental The company has been certified with ISO 14064-1 by Bureau Veritas (Thailand) and has received a Carbon Footprint of Organization (CFO) certification and Carbon Offset Certificate.
Social The company emphasizes respect for human rights, promotes equality, and continuously develops its personnel. It also works to build trust with customers and create value for communities to foster sustainable growth.
Economic and Governance The group promotes sustainable business practices by adhering to laws and anti-corruption policies, as well as assessing risks and ensuring technology security to maintain transparency and benefit stakeholders.
2024 has been a challenging year for the securities business, which has been impacted by both domestic and international economic factors. This has directly affected investor confidence, as reflected in the daily trading value. Furthermore, companies interested in raising funds through IPOs have delayed their listings on the stock market due to unfavorable market conditions. However, FSS and FSL continue to perform their roles effectively as lead underwriters.
FSS acted as lead underwriter for 3 companies: NAT, BKGI, and MAGURO, while FSL was the lead underwriter for SPREME. Additionally, a notable achievement was serving as the financial advisor for the public offering of Vayupak Fund 1 (VAYU1).
1) In 2024, FSX's consolidated financial statement reported a net loss of THB 63.26 million, a decrease of 67.7% YoY.
2) Total revenue in 2024 was THB 1,528.22 million, a drop of THB 120.67 million or 7.32% from the previous year, primarily due to a decrease in commission income following a 12.33% drop in average daily trading value. FSX's market share decreased from 5.59% to 4.40%.
3) Total expenses amounted to THB 1,634.90 million, a drop of THB 159.72 million, mainly due to a 29.62% reduction in fees and services expenses, which were affected by lower trading values.
4) On December 27, 2024, FSTH, a subsidiary, sold its entire stake in Finansia Digital Assets Co., Ltd. (FDA) to Vertex Ventures Co., Ltd. for THB 190 million, resulting in a realized gain of THB 50.30 million from discontinued operations in the consolidated financial statement for 2024.
1) FSX has established 4 subsidiaries: FST3 Co., Ltd. (FST3), FST2 Co., Ltd. (FST2), FST1 Co., Ltd. (FST1), and Finansia Thai Company Limited (Finansia Thai), in line with the organizational restructuring plan and preparation for digital asset business operations.
2) Between June 24 - June 28, 2024, FSX offered 579,929,467 new shares to existing shareholders (Right Offering) at a price of THB 4.50. FSX successfully sold 239,937,316 shares, raising net funds of THB 1,071,364,794.48.
FSX manages all business units with careful attention to risk. It has a risk management structure consisting of the Risk Management and Governance Committee, Audit Committee, Nomination and Remuneration Committee, Corporate Governance and Sustainability Committee, Technology Committee, Internal Audit Department, and Cybersecurity and Data Protection Department. These bodies are responsible for defining policies and frameworks for risk management and overseeing enterprise-level risk operations. Additionally, the company maintains sufficient liquidity and working capital to address crisis situations and emergencies. The company also manages costs and expenses within appropriate levels.
2024
1) FSSIA won 3 awards at the IAA Best Analyst Awards 2024, recognized for its effective and accurate financial analysis presentations.
2) FSS won the Runner-up SET Broker Champion award from the Stock Exchange of Thailand, reinforcing its leadership in investment innovation.
3) Ranked 3rd in Broker Champion TFEX at the "Stock Exchange Mobile Tour" in Chiang Mai and Khon Kaen.
4) Certified with the Carbon Footprint of Organization (CFO) and Carbon Offset Certificate on September 17, 2024, by the OCSC.
| as of 30/12/24 | FSX | FIN | SET |
|---|---|---|---|
| P/E (X) | - | 16.12 | 19.33 |
| P/BV (X) | 0.48 | 1.38 | 1.40 |
| Dividend yield (%) | - | 2.14 | 3.23 |
| 30/12/24 | 28/12/23 | - | |
|---|---|---|---|
| Market Cap (MB) | 1,703.24 | 1,519.42 | N/A |
| Price (B/Share) | 2.08 | 2.62 | N/A |
| P/E (X) | - | - | N/A |
| P/BV (X) | 0.48 | 0.55 | N/A |
