NER’s Net Profit Increases 28% to THB469 Million in 1Q22, Lifted by Higher Sales Volume

The Northeast Rubber Public Company Limited (SET: NER) announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
468.89 366.50
Earning Per Share
0.266 0.227
% Change 27.94

For the first three months of 2022, NER had a net profit of THB468.89 million, or a net profit margin of 8.38% of total sales. Compared to the first three months of 2021, the net profit margin was 7.38%. Net profit increased by THB102.39 million or an increase of 27.94% because the company was able to manage the cost of sales and expenses effectively. For the first 3 months of 2022, the company has basic earnings per share of THB0.266 per share.

Operating results for 1Q22, compared to the same period of the previous year, sales volumes were 96,350 tons, an increase of 6,609 tons or an increase of 7.36%, representing total sales revenue of THB5,592.61 million, an increase of THB629.52 million or an increase of 12.68%, divided into domestic sales revenue of THB3,222.30 million or accounted for 57.62% of total sales, decreasing by THB232.76 million baht or 6.74%. Revenue from overseas sales was THB2,370.31 million which accounted for 42.38% of total sales, an increase of THB862.28 million or an increase of 57.18%.

Sales revenue for 1Q22 increased compared to the same period last year caused by the company receiving more orders from foreign customers. The increase in revenue was due to factors in sales volume and higher selling prices.