KCE Earnings Drop Slightly in 2022 Due to Higher Costs

KCE Electronics Public Company Limited (SET: KCE) has announced its financial statement of 2022 through the Stocks Exchange of Thailand as follows;

Year 2022 2021
Net Profit (Loss)
Million Baht
2,317 2,426
Earning Per Share
1.96 2.06
% Change -4.5

In 2022, KCE reported a net profit of Bt 2,317.2 million or 12.6% of sales, compared with 2021 net profit of Bt 2,426.3 million or 16.2% of sales, decreasing 4.5% year-on-year. The decrease was mainly due to the global economic recession in 2022 that greatly affect sales and product costs.

Consolidated sales revenue in THB increased from Bt 14,937.8 million in 2021 to Bt 18,456.3 million in 2022, representing a growth of 23.55% Y-o-Y, while sales revenue in USD increased by 13.11% Y-o-Y, from USD 468.6 million in 2021 to USD 530.1 million in 2022 due to the positive impact from THB depreciation against USD, resulting the incremental of revenue recognition in THB at approximately Bt 1,076.2 million compared with 2021.

KCE stated that the company’s operating performance last year got affected by the Russia-Ukraine conflict situation and the implementation of both economic & political policies in foreign countries especially in Europe which
affect the manufacturing industries in a wide range, including the chip shortages incident, including the dramatic price incremental of copper, gold, and oil.