Tellimer

After You PCL: 1Q21 profit in line

  • In line
  • AU posted core profit of Bt12m in 1Q21
  • AU should be able to run slight profit in 2Q21

Share price is at good entry level because of 1) a sharp price correction (down 21% from its peak at Bt12.80 on March 11, 2021, a pre-new wave of COVID-19 pandemic in Thailand), 2) near Bt10 of which the acquisition cost by strategic partner, BTS group (6.6% stake in AU), and 3) bargain valuations at a 2021 PER of 53.9x, 0.5SD below its long-term mean. AU will quickly resume business after COVID-19 easing in Thailand due to no debt concerns. We maintain BUY rating at a YE21 target price of Bt14.40 (pegged to 0.5SD above its mean PER).)

In line  

AU posted core profit of Bt12m in 1Q21, down 13% YoY (from Bt13m in 1Q20) and 29% QoQ (from Bt14m in 4Q20). The result was in line with our estimate of Bt14m (no consensus forecast).


Most Viewed See latest
Disclosures

This publication is being distributed by Tellimer solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not con...

Full Tellimer disclaimers