CPAXT Reports Slight Decrease in 2Q23 Earnings with a Dividend Payout of THB0.18

CP Axtra Public Company Limited (SET: CPAXT) has announced its 2Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;

CPAXT reported a net profit of Baht 1,515 million in 2Q23, decreased slightly by 3.63% from Baht 1,572 million in 2Q22.

CPAXT reported total revenues of Baht 121,612 million, an increase of Baht 2,942 million or 2.5% year-on-year. While revenue from sales of goods was Baht 115,980 million, which increased by Baht 2,617 million or 2.3% from the same quarter last year. Supportively, the revenue from wholesale business increased of 7.4% from the same quarter last year, owing to an increase in-stores, Online, and Omni Channel sales of Makro-Thailand, along with an expansion of Makro-International across all countries. However, the revenue from the retail business slightly decreased 3.3% YoY, owing to a strategic shift in our operational strategy, as well as a reduction in operating hours across certain locations. Meanwhile, the proportion of Online and Omni Channel sales of the Company and its subsidiaries accounted for 12.4% of total sales.

In addition, the company and its subsidiaries had revenues from rendering of services and their income of  Baht 2,147 million, an increase of Baht 135 million or 6.8% compared to the same quarter last year, primarily from an increase in service income for promotional activities.

The company had a gross profit margin of 13.5% of the total sales revenue, which decreased from 13.7% in 2Q/2022, primarily due to a slight decrease in the wholesale gross profit margin to 9.8% from 9.9% in 2Q/2022. While the retail gross profit margin remained flat at 18.0%.

Additionally, the company announced a THB0.18 dividend payout to be paid on September 6, 2023. The ex-dividend date is on August 21, 2023.