Earnings Report /
Thailand

Amata Corp PCL: 3Q22 miss; strong presales expected for 4Q22

  • Missed our estimate, but beat the street

  • AMATA posted a 3Q22 net profit of Bt353m

  • Revenue increased 73% YoY (unchanged QoQ)

Bualuang Securities
15 November 2022

AMATA should post strong presales for 4Q22, driven by the ongoing easing of cross-border travel restrictions and production migration from China. BUY!

Missed our estimate, but beat the street

AMATA posted a 3Q22 net profit of Bt353m, up 55% YoY but down 46% QoQ. The reported NPAT was 33% short of our estimate but was 23% ahead of the consensus. Stripping out extra items, core earnings would be Bt326m, up 118% YoY but down 46% QoQ. Both the net and core numbers missed our estimates (lower equity income and a slimmer GM than assumed), but beat the consensus projections.