MAKRO Records 104% Sales Growth after Incorporate Lotus’s

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

Quarter 3Q22 3Q21
Net Profit (Loss)

Million Baht

1,602.19 1,571.85
Earning Per Share


0.1500 0.3300
% Change 1.93


The company reported sales revenue of Baht 110,162 million in 3Q2022, increase of Baht 56,338 million or 104.7% year-on-year (YoY), due mainly to the business combination of the retail group from Makro-Thailand, Makro-International as well as Food Service APME because of recovering from the reopening of international borders in core operating countries alongside less stringent travel restrictions in the Asia-Pacific market.

In the third quarter of 2022, the company had a gross profit margin of 14.5% of the total sales revenue, increased from 10.5% in the same period last year, primarily due to the combination of the retail group. The gross profit margin of retail business stood at 19.1% higher than the previous quarter of 18.0%. 

MAKRO reported a net profit of Baht 1,602 million, or Baht 0.15 per share, an increase of Baht 30 million or 1.9% YoY, due to expenditures related to the online platform’s development and higher finance costs in relation to an increase in the benchmark interest rate.

In the third quarter of 2022, the retail business reported a net profit of Baht 29 million, attributable from the finance cost incurred throughout the period, which has also increased mainly due to the significant increase in the benchmark interest rate for US dollar borrowings.

MAKRO recorded the cost of rental and rendering of services of Baht 1,519 million in 3Q22, an increase of Baht 1,503 million from the same period last year, mainly attributable to the retail business, consisting of retail businesses under “Lotus’s” and mall business in Thailand and Malaysia.