GLOBAL’s 3Q23 Results Fall 32% from Lower Demand amid Economic Uncertainties

Siam Global House PCL (GLOBAL) reported its Q3/2023 consolidated financial result as follows.

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
525.11 774.52
Earning Per Share
0.1050 0.1548
% Change -32.20
9 Months 2023 2022
Net Profit (Loss)
Million Baht
2,111.15 2,959.57
Earning Per Share (Baht) 0.4221 0.5917
% Change -28.67


GLOBAL’s Q3 total net profit declined by 32.30% YoY to 527.30 million baht. This is due to  economic slowdown that lowered GLOBAL’s customers purchasing power, together with the steel global price adjustments which is the component of construction material that impacted GLOBAL’s pricing and profit. This resulted in GLOBAL’s sales revenue fell by 10.16% YoY to 7,340.46 million baht, as well as decrease of transportation and service revenue decreased GLOBAL’s other income by 2.18% YoY to 173.01 million baht.


As for the cost components, the 4 new store expenses such as utility, salary and promotions have increased GLOBAL’s cost by 8.13% YoY to 1,084.87 million baht. The interest rate adjustment on loans also increased GLOBAL’s financial cost by 52.47% to 71.25 million baht, while the tax expenses decreased by 34.51% YoY to 117.17 million baht, along with the falling income.


GLOBAL reported its Q3 current ratio at 1.30x, almost unchanged compared to Q4 of 2022 at 1.29x, and the debt to equity ratio at 0.64x, lower than Q4 of 2022 at 0.77x. The company followed inventory management policy, while used its cash flows mainly for loan repayments, invested in joint ventures, new property plant, equipment and debt securities.