KEX Reported Net Loss of THB 491 Million in First Quarter 2021

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

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht



Earning Per Share



% Change -262.2%

The company  reported a net loss attributable to owners of the Company of THB 491.1 million in Q1/2021, regaining an upward momentum of 18.7% when compared to Q4/2021. The narrowing loss significantly benefited from the pricing strategy to underscore our market leadership as well as our strong determination to enhance our operating efficiency while maintain service quality. Thanks to our market-driven adaptability and collaboration with diverse partners in offering services and generating new revenue streams, we are able to keep up with the boom of online retail spending in the present while adding more service access at reasonable prices to cover all groups of customers.

KEX reported total revenue of THB 4,416.0 million, recording a surge of 5.5% from Q1/2021 despite a minor drop of 6.0% from the previous quarter, which was a high season. This is consistent with revenue from all segments which bears no substantial change except for B2C customers that we have attracted from the aggressive pricing approach and the best-in-class express delivery services that are penetrated into the economy market. Meanwhile, we noticed that the e-commerce market campaigns and sales promotions have successfully boosted purchase demand in online shopping at the beginning of the year. In addition, domestic consumption saw gradual yet constant improvement as COVID-19 cases drop in Thailand.