Equity Analysis /
Thailand

TH : Amata Corporation - 2Q22F NP driven by gain from RBF sales

    CGS-CIMB
    18 July 2022
    Published byCGS-CIMB

    AMATA’s land presales likely improved to 132 rai in 2Q22F vs. 64 rai in 2Q21. We maintain our land presales forecast at 1,006 rai for 2022F. We forecast 2Q22F net profit increased 99% yoy to THB491.6m due to gain from the sale of 8 ready-built factories and higher land transfers. Reiterate Add with TP of THB24.80 on strong core EPS growth in 2022-23F.