GUNKUL’s Shares Surge to Record High amid Upbeat 4Q21 Earnings

GUNKUL achieved another record high on Tuesday with a share price gained more than 12% as investors speculated that GUNKUL will deliver solid 4Q21 earnings.


The share price of Gunkul Engineering Public Company Limited (SET: GUNKUL) rose THB0.65/share or 10.57%, to THB6.80/share at 11.52 a.m. local time in Thailand, after reaching its peak of THB6.90/share, or up more than 12%, with a trading value of THB2,935 million.


Capital Nomura Securities forecast GUNKUL’s 4Q21 earnings to rise 5% YoY and 13% QoQ to THB592 million, while 2021 earnings are expected at THB2.20 billion. Key growth drivers consist of 1) the full recognition of the solar farm project in Vietnam, 2) the recovery of EPC business, 3) the hemp business is set to generate the profit in the first half of this year, 4) an investment in THCG. All these drivers will also push the profit this year to grow at least 30% to THB2,855 million.