Earnings Report /
Thailand

BEC World: In line with estimate

  • 2Q22 core profit was in line with our estimate

  • BEC posted NPAT of Bt173m for 2Q22

  • The top-line declined 10% YoY but rose 9% QoQ

Napon Jaisan
Napon Jaisan

Equity Research Analyst

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Bualuang Securities
15 August 2022

In this environment, media stocks should be under pressure as the market still weighs towards more cautious ad spending. Almost all TV operators are maintaining in a defensive mode. It’s best to await clear signs of ad spending recovery. 

2Q22 core profit was in line with our estimate

BEC posted NPAT of Bt173m for 2Q22, down 6% YoY but flattish QoQ. Excluding an extra item, core profit would be Bt166m, down 12% YoY but up 14% QoQ. The net profit was in line with our estimate and consensus projection.