OSP 1Q22 Earnings Drop 25% to THB750 Million despite Record-High Quarterly Revenue

Osotspa Public Company Limited (SET: OSP) announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
749.71 1,004.00
Earning Per Share
0.25 0.33
% Change -25.3

In 1Q22, OSP reported a net profit of THB 750 million, with a net profit margin of 10.0%. If excluding the foreign exchange impact, the adjusted 1Q22 net profit was THB 794 million or equal to adjusted net profit margin of 10.6%. Compared to 1Q21 profit excluding THB 305 million dividend received from investment in other company and the foreign exchange impact, the adjusted 1Q22 net profitshowed8.1% growth YoY, indicating an improvement in underlying performance despite all external factors, including the prolonged COVID-19 wide spread and the geo-political crisis of Russia-Ukraine war that accelerated global inflation and drove higher energy and commodity prices.

Total revenues was THB 7,518 million(+5.6% YoYand +7.2% QoQ) and revenue from sales was THB 7,472 million, +10.3% YoY and +7.5% QoQ, boosted by strong sales growth across all segments. Both domestic and international businesses showed solid recovery, which reflected our strong and effective execution.