MAKRO’s 2021 Earnings Surge 108% on Accounting Gains, Offering THB0.32 Dividend Payment

Siam Makro Public Company Limited (SET: MAKRO) has announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;

Yearly 2021 2020
Net Profit (Loss)
Million Baht
13,686.73 6,562.67
Earning Per Share (Baht) 2.38 1.37
% Change 108.55

MAKRO reported a net profit of Baht 13,686 million in 2021, increased 108% from a net profit of Baht 6,562 million in 2020, due mainly to a net profit of the wholesales business of Baht 6,773 million, grew by 3.2% YoY, a net profit from the retail business of Baht 397 million and the EBT which resulted in accounting gain on step acquisition of Baht 6,714 million, or Baht 2.38 per share, an increase of 74.0% YoY.

In 2021, the Company had a sales revenue of Baht 258,847 million, an increase of Baht 44,707 million or 20.9% compared to 2020, mainly due to the merger of the retail business, while the wholesale business sales grew by 3.4% from the continued growth of Makro-Thailand, including the opening of 5 new stores in 2021 and a full-year sales from the stores that commenced operation in 2020. Meanwhile, the growth of the Food Service APME that were slowly recovering from the COVID-19 crisis and the strategy adjustment expanding the market to direct consumers and modern retailers also contributed to the growth as well. Makro-International were facing a new wave of the COVID-19 epidemic, especially in Cambodia. However, the Company adjusted its strategy to focus on selling more products through the O2O platform, which resulted in a slight decline in overall sales for the overseas businesses compared to the previous year.

In addition, the Board of Directors approved a dividend payment of THB 0.32 per share to be paid on 19 May 2022. The ex-dividend date is 3 March 2022.