Earnings Report /
Thailand

Carabao Group PCL: 2Q22 result in line

  • 2Q22 profit was in line with our estimate and the consensus

  • CBG reported core earnings of Bt742m for 2Q22

  • Revenue totaled Bt5.25bn in 2Q22

Bualuang Securities
15 August 2022

CBG is best play for both the short run and the long haul. Its current PER is 36.8x (equal to its eight-year mean) against strong funda-mentals. BUY!

2Q22 profit was in line with our estimate and the consensus

CBG reported core earnings of Bt742m for 2Q22 (against core profits of Bt967m for 2Q21 and Bt660m for 1Q22). The core number was in line with our estimate and street projection.