North East Rubber Public Company Limited (SET: NER) has announced its 2022 consolidated financial statement through the Stock Exchange of Thailand as follows;
|Net Profit (Loss)
|Earning Per Share
NER reported a net profit of 1,748.00 million baht or a net profit margin of 6.94% of total sales revenue. When compared to the year 2021, the net profit margin was 7.57 percent, the company’s net profit margin decreased by 0.63 percent. The amount decreased by 102.19 million baht or decreased by 5.52 percent compared to the year 2021.
Performance for the year 2022 ended December 31, 2022 compared to the year 2021 with sales volume of 446,090 tons, a decrease of 6,386 tons or a decrease of 1.41 percent, representing a total sales revenue of 25,172.06 million baht, an increase of 746.40 million baht or an increase 3.06% divided into revenue from domestic sales 16,702.15 million baht or 66.35% of total sales, an increase of 1,519.21 million baht or an increase of 10.01% revenue from foreign sales 8,469.91 million baht or equivalent to The proportion was 33.65 percent of total sales, a decrease of 772.81 million baht or a decrease of 8.36 percent.
The increase in sales revenue in 2022 was due to the situation in rubber prices that rose in the first half of the year. Compared to 2021, the average selling price of rubber products in 2022 increased by 4.52 percent with increased income. Divided into the difference in price that has moved up to 1,046.63 million baht and divided into the difference in quantity that has decreased at 303.00 million baht.
In 2022, the company had a cost of sales of 22,116.16 million baht or 87.86 percent of sales revenue. Divided into the cost of raw materials and consumables spent 21,425.34 million baht, representing 85.12% of sales revenue. Compared to 2021, the cost increased by 0.77 percent, the main factor that increased the company’s raw material costs was the volatility of rubber prices in 2022, which increased in the first half of the year and decreased in the second half. Directly affecting the proportion of rubber raw material cost compared to revenue.
The Board of Directors approved to propose to the Annual General Meeting of Shareholders for year 2023 to consider and approve the extension of allocation of the newly issued ordinary shares under the General Mandate, of not exceeding 161,467,890 new ordinary shares to be offered to the Private Placement at par value of Baht 0.50 per share.
NER noted that it shall seek for funds resource according to the continuous expansion of Company’s business including investment plan in the future. Therefore, the company shall issue the capital increases ordinary shares to increase liquidity and working capital to the company as well as to support a strengthening of the company’s capital base in order to readiness for future investments. The future projects shall acquire more revenue and shall benefit the company and its shareholders.
The capital increase will provide the company with liquidity and working capital increase in order to expand the business potential as well as help the company become financially stronger. This will result in benefit to the company and its shareholders in the long term.
Additionally, NER will pay dividends at 0.31 Baht per share on 9 May 2023 with an ex-dividend date on 20 April 2023.