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
| 3M25 | 3M24 | 2024 | 2023 |
|---|
Income Statement (MB)
| Revenues | 18,660.11 | 18,795.54 | 72,638.47 | 72,821.77 |
| Expenses | 16,353.00 | 16,498.19 | 63,885.83 | 64,307.02 |
| Net Profit (Loss) | 1,707.38 | 1,712.84 | 6,503.55 | 6,441.56 |
Balance Sheet (MB)
| Assets | 69,573.88 | 67,849.12 | 69,664.87 | 69,047.89 |
| Liabilities | 41,063.54 | 40,575.64 | 42,862.43 | 43,489.10 |
| Shareholders' Equity | 28,510.34 | 27,273.48 | 26,802.44 | 25,558.78 |
Cash Flow (MB)
| Operating | 3,165.14 | 3,681.43 | 10,153.21 | 9,792.49 |
| Investing | -1,285.92 | -924.28 | -3,691.31 | -5,244.55 |
| Financing | -2,236.62 | -4,203.52 | -7,339.30 | -3,535.84 |
Financial Ratio
| EPS (Baht) | 0.13 | 0.13 | 0.49 | 0.49 |
| GP Margin (%) | 26.96 | 26.99 | 27.59 | 27.45 |
| NP Margin (%) | 9.15 | 9.11 | 8.95 | 8.85 |
| D/E Ratio (x) | 1.44 | 1.49 | 1.60 | 1.70 |
| ROE (%) | 23.30 | 24.63 | 24.84 | 25.87 |
| ROA (%) | 12.75 | 13.08 | 12.62 | 12.69 |
Business Plan
- Information Technology System Development Project: Cover various operational areas, such as using technology to analyze and forecast product orders, using technology to prepare products and determine appropriate pricing, developing a Home Service application, developing a Trade-In product tracking system to monitor operational procedures after receiving products from customers.
- E-commerce System Development Project: Created a marketplace platform for selling select off-store products to enhance competitiveness and better serve customer needs.
- Loss Management Cockpit (LMC) Development Project: A centralized platform was installed for real-time loss tracking, analysis, and management, with store-level tools and cameras feeding data to central loss control.
- Automated Storage and Retrieval System (ASRS) Installation Project at the Distribution Center: Installed an additional ASRS to support future store expansion and business growth.
- Private Brand Product Development Project: Developed products to meet customer needs while considering environmental and social impacts.
Sustainable Development Plan
- Environmental-Friendly Products
- Circular Economy and Waste Management
- Green Transport and Supply Chain
- Customer care
- Associates Care
- Social and Community Development
Business Highlight
- The Company further expanded its hybrid store format, opening combined HomePro and Mega Home stores within the same location in strategic areas. This approach caters to both homeowners and contractors as one strategy to increase sales opportunities by offering complete one-stop shopping experience for products from both HomePro and Mega Home, both enhancing competitiveness and reducing operating costs through efficient space utilization.
Performance and Analysis
Business Performance Summary
- Net Profit: The Company’s net profit for the first quarter of 2025 was Baht 1,707.38 million, a decrease of Baht 5.46 million or down 0.32% as compared to the same period of the previous year.
- Revenues: Total revenues amounted to Baht 18,654.46 million, a decrease of Baht 133.11 million or down by 0.71%, comprising of the following:
1) Revenue from contracts with customers, which includes revenue from the sale of goods and revenue from Home Service, amounted to Baht 17,547.44 million, representing a decrease of Baht 116.40 million or down 0.66% year-over-year.
2) Rental and service income amounted to Baht 471.29 million, an increase of Baht 20.46 million or up 4.54% from the previous year.
3) Other income amounted to Baht 635.73 million, a decrease of Baht 37.18 million or down 5.53%,
Key Milestones
- The Company implemented ongoing promotional activities through both its stores and online channels. This included regular Double Day events and other sales promotion activities. Furthermore, the Company established a marketplace platform for selling specific product categories not available in physical stores, aiming to encourage customer purchases. This initiative not only increases the Company's market competitiveness but also serves as a strategic approach to offering a more complete range of products and services to better serve its customers.
- For store expansion in the first quarter, the Company maintained its existing network with no new openings in Thailand or internationally. As at the end of the first quarter of 2025, the Company's total store count was 94 HomePro stores, 5 HomePro S stores, 30 Mega Home stores, and 7 HomePro stores in Malaysia.
Risk Management Policy
- Economic Volatility: The Company continues to identify opportunities for store expansion, while also monitoring performance and developing marketing plans. These initiatives consist of collaborative promotional activities with a diverse range of partners, including credit card issuing banks, government agencies, and business partners, alongside targeted marketing campaigns designed to attract customers.
- Procurement: The Company has a policy of diversifying its sourcing and procurement across multiple qualified manufacturers and distributors to mitigate the risk of relying on a single vendor, creating balance in supply and fostering long-term price negotiation leverage. Furthermore, the Company conducts ongoing assessments of human rights risks to ensure compliance with labor laws and regularly verifies through Supplier Audit that its business partners comply with environmental laws.
Recent Awards and Recognitions
- Ranked in the global top 5% for retail in the 2024 DJSI (Emerging Markets) for the 8th year and is listed in The Sustainability Yearbook 2024.
- Selected for the FTSE4Good Index (FTSE Russell).
- Received AA rating in 2024 SET ESG Ratings (Stock Exchange of Thailand).
Revenue Structure
Stock Information
SET / SERVICE / COMM
| as of 31/03/25 | HMPRO | COMM | SET |
|---|---|---|---|
| P/E (X) | 17.39 | 19.85 | 15.78 |
| P/BV (X) | 4.22 | 1.54 | 1.10 |
| Dividend yield (%) | 5.00 | 2.89 | 4.37 |
| 31/03/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 113,100.30 | 123,621.26 | 153,869.02 |
| Price (B/Share) | 8.60 | 9.40 | 11.70 |
| P/E (X) | 17.39 | 19.15 | 23.98 |
| P/BV (X) | 4.22 | 4.93 | 6.44 |
CG Report:
Company Rating:
AA-/TRIS
Major Shareholders
as of 11/03/2025
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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