NER’s 3Q Earnings Increase 20% to THB529 Million on Rising Rubber Prices

Northeast Rubber Public Company Limited (SET: NER) has announced its 3Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q22 3Q21
Net Profit (Loss)
Million Baht
529 440
Earning Per Share
0.286 0.268
% Change 20.12
9 Months 2022 2021
Net Profit (Loss)
Million Baht
1,380 1,246
Earning Per Share (Baht) 0.766 0.766
% Change 10.78

In 3Q22, NER reported a net profit of THB529 million, up 20.12% from the same period last year, while for the 9-month period, NER had a net profit of THB1,379.97 million, up 10.78% from the same period last year. This was due to the direction of para rubber prices that continued to increase in 2022 and the company was able to manage the cost of sales well. Including management of distribution costs and better hedging against foreign exchange risk. 

Sales revenue for the 9-month period 2022 compared to the same period of the previous year decreased from the rubber smoked sheet (RSS) products due to the decrease in demand and price of smoked rubber sheet in the market. As a result, the overall order volume decreased compared to the same period last year. The decrease in total sales revenue was due to a decrease in volume difference of THB1,875.91 million and an increase in price difference from a higher rubber price of THB1,556.55 million, decreasing by THB319.36 million or 1.74% compared to the same period last year.