MAKRO 1Q22 Earnings Grow 18% after Adding Lotus’s Retail Segment into Portfolio

Siam Makro Public Company Limited (SET: MAKRO) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
2,050.31 1,733.74
Earning Per Share
0.1900 0.3600
% Change 18.26

MAKRO reported a net profit of Baht 2,050 million in 1Q22, increased 18.26% from a net profit of Baht 1,733 million in 1Q21, resulting from the wholesale business’s net profit of Baht 1,741 million, which slightly grew compared to the same period of last year, and the retail business’s net profit that amounted to Baht 309 million.

In the first quarter of 2022, the company and its subsidiaries registered Baht 106,268 million in sales revenue, an increase of Baht 51,400 million or 93.7% YoY, due mainly to the business combination of the retail group since October 25, 2021, and the continued sales growth of Baht 1,754 million or 3.2% from Makro-Thailand, Makro-International as well as Food Service APME as a result of HoReCa businesses recovering from the COVID-19 crisis. 

In the first quarter of 2022, the retail business recorded total revenues of Baht 53,269 million, comprised of total sales of Baht 49,646 million, revenue from rental and rendering retail services of Baht 2,960 million, and other income of Baht 663 million, in comparison with the same quarter last year, sales growth was 6.0 %. 

MAKRO  had total revenues of Baht 111,217 million surged by Baht 55,120 million or 98.3% compared to the same quarter of the previous year.