BEYOND Posts 1Q22 Net Loss of over THB100 Million as Expenses Soar Dramatically

Bound and Beyond Public Company Limited (SET: BEYOND) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
(102.67) 96,513
Earning Per Share
(0.36) 0.43
% Change (206.38)

In 1Q22, BEYOND posted net loss for the period of THB102.67 million, decreasing by -206% compared to net profit of THB96 million in 1Q21, while the company’s loss per share stood at THB0.36. However, BEYOND had earnings before interest, taxes, depreciation, and amortization (EBITDA) of THB49.12 million in 1Q22.

Total revenues for the period was THB436.85 million, a significant increase of THB418.06 million or 2,224.91% from 1Q21, primarily due to the recognition of revenues from hotel operations of THB327.89 million. In addition, the company recorded again from sales of buildings and equipment of THB74.43 million from sales of head office building in this quarter.

BEYOND’s total expenses were THB464.13 million, an increase of THB417.03 million or 885.41% YoY, mainly from the recognition of costs and expenses associated to hotel operations, which include cost of hotel operations of THB319.12 million, selling expenses of THB44.81 million, and an increase in administrative expenses of THB56.59 million.

In addition, BEYOND incurred finance cost of THB83.47 million, increasing by THB68.50 million or 457.58% YoY, due to loans under hotel business of THB5,000 million. Moreover, the company issued debentures of THB894.70 million on 25 March 2022 for additional investment in URH and WFH.