Mr. Chuwit Jungtanasomboon, Chief Executive Officer of North East Rubber Public Company Limited (SET: NER), revealed that overall operating results for the 9-month period ending September 30, 2023 recorded a sales volume of 369,478 tons, an increase of 60,868 tons or 19.72%, representing a total sales income of 18,439.90 million baht, an increase of 353.55 million baht or an increase of 1.95%.
Sales were divided into income from domestic sales of 11,949.62 million baht or 64.80% of total sales, and income from overseas sales of 6,490.28 million baht or 35.20% of total sales. For the 9-month period of 2023, the company recorded a net profit of 1,083.87 million baht with a net profit margin of 5.88% of total sales revenue.
For operating results for the 3-month period, the company had a total sales volume of 112,426 tons, representing a total sales income of 5,627.92 million baht, divided into domestic sales income of 4,035.91 million baht or 71.71% of total sales and income. Overseas sales recorded 1,592.01 million baht or equivalent to 28.29% of total sales. Net profit for the third quarter of 2023 was 312.27 million baht or 5.55% of total sales revenue.
In addition, NER stated that the decrease in overseas sales revenue was due to the postponement of product delivery to China due to the Chinese National Day holiday, accounting for a sales volume of 6,651.20 tons or 324.98 million baht.
Mr. Chuwit maintained the overall sales projection of 2023 at 500,000 tons from a total production capacity of 515,600 tons, with growth coming from expanding the market to various customer groups and the demand for electric cars is likely to grow even more. Currently, the company has orders going into the first quarter of 2024, thanks to orders from China that still have high demand and improved rubber prices.
