Mr. Nuttanai Anuntarumporn, chief executive officer and director of INTERLINK Telecom Public Company Limited (SET: ITEL), said the performance in the fourth quarter of 2022 is expected to grow in every business segment. Moreover, there should be more clarity on the project that the company proposed with a total of approximately 1,000 million baht.Growth in other businesses should be in line with the company’s revenue projection, that reflects a clear business direction for the company. At this time, the company has a contract on hand worth 3,194 million baht. The company expects to proceed with the operations and revenue recognition throughout next year. Moreover, the company has a plan to enter and offer for new projects to support the revenue in the future.
In terms of the performance direction in 2022, the company maintains the revenue target at 3,200 million baht, which should achieve its target due to having plenty of backlog and opportunities to acquire new projects that the company previously proposed in this year’s period as a support to drive the overall business to reach its targets.
Recently, ITEL won the auction of Bureau of the Budget for the development of electronic budget management system (New e Budgeting), Phayathai Sub-district, Phayathai District, Bangkok, 1 system, by the value of Baht 636,500,000.00 million (inclusive of VAT).
Finansia Syrus Securities (FSS) said in its ITEL research that ITEL will make a profit of approximately 90 million baht in the fourth quarter of 2022 due to an increase in backlog of 3,194 million baht. The profit forecast for 2022-2024 is expected to increase by an average of 34.6%, and the estimated profit in 2023 is expected to increase by 39.2% from 2022, with a decreased PE from 23 to 16.5, and EV/EBITDA remaining at 8.4.
FSS has given a “BUY” recommendation with a target price of THB5.50 in 2022 based on PE at 32.