Jenkongklai Public Company Limited (mai: JPARK) has announced its 1Q25 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q25 | 1Q24 |
| Net Profit (Loss) Million Baht |
23.40 | 24.76 |
| Earning Per Share (Baht) |
0.0583 | 0.0636 |
| % Change | -5.50 | |
JPARK had a net profit of THB 23.40 million, representing a net profit margin of 16.62% of total revenue. The net profit decreased by THB 1.36 million or 5.49% lower than the net profit for the same period in 2024. The main reasons are the decrease in the CIPS business revenue due to no new big projects gained during the period.
For the three months ended 31 March 2025 and 2024, JPARK had service revenue of THB 133.86 million and THB 152.16 million, respectively. Revenue decreased YoY by THB 18.30 million, or 12.03%. The details are as follows:
- The parking service business (PS) had an increase in revenue of THB 2.13 million, an increase of 2.28%.
- The increase in revenue is mainly due to additional advertising to raise awareness, resulting in increased use of the parking service, especially in the recently opened lots.
- The parking lot management service (PMS) business had an increase in revenue of THB 4.35 million, an increase of 20.77%.
- In 2024, the Company secured an additional parking lot and was able to increase the management fee for contract renewal with MRT.
- The consulting and installation business of the parking management system (CIPS) had a decrease in revenue of THB 24.93 million, or 71.78%.
- This increase is due to the Smart Parking Management System and Guidance System projects from MRT won in 2023 being completed and delivered in 2024.
- Furthermore, during the first quarter, the company did not have any new big projects.
- Other service revenue mainly represents space rental income for commercial increased by THB 0.15 million, or 4.82%.
As for the cost of services, JPARK reported a figure of THB 94.39 million, with the cost of services decreased YoY by THB 15.69 million or 14.25% from the same period of the previous year, mainly due to:
- Employee expenses increased by THB 2.50 million
- This increase is due to the minimum wage increase as announced by the government, and an increase in the number of employees, which is in line with the increase in parking lots when compared to the same period of the previous year.
- The cost of installation and implementation of the parking management system (CIPS) decreased by THB 12.45 million.
- Which is consistent with the decrease in revenue from the CIPS business
- Depreciation and amortization expenses decreased by THB 1.16 million.
- This decrease is due to the discontinued expired lease contracts.
- Parking space rental increased by THB 1.26 million.
- This increase is mainly due to the increase in rental varying from the fluctuation of income, which is consistent with the increase in revenue from the parking service (PS) business.
For the three months ended 31 March 2025, JPARK had a gross profit of THB 39.47 million, representing a gross profit margin of 29.49%, which was lower than the gross profit in the same period of the previous year, which had a gross profit of THB 42.08 million, representing a gross profit margin of 27.66%.
This is due to a decrease in revenue for the CIPS business. However, the gross profit margin was 1.83% higher than the same period of the previous year, due to the higher profit margin of the parking services (PS) business compared to the same period last year, leading to an average GPM increase.
