NER Records 11% Growth in 2023 Sales Volume as Boards Offer THB0.29 Dividend Payment

North East Rubber Public Company Limited (SET: NER) has announced its 2023 consolidated financial statement through the Stock Exchange of Thailand as follows;

Year 2023 2022
Net Profit (Loss)
Million Baht
1,545.60 1,748.00
Earning Per Share
0.8360 0.9640
% Change -11.58

NER reported a net profit of 1,545.60 million baht, or a net profit margin of 6.17% of total sales revenue. Compared to 2022, the company’s net profit rate decreased by 202.40 million baht or decreased by 11.58%.

Operating results for 2023 ending December 31, 2023 compared to 2022 had a sales volume of 497,053 tons, an increase of 50,963 tons or 11.42%. Representing a total sales income of 25,045.17 million baht, a decrease of 126.89 million baht or a decrease of 0.50%, divided into domestic sales revenue of 16,259.49 million baht or a proportion of 64.92% of total sales, a decrease of 442.66 million baht. or decreased by 2.65%. Revenue from foreign sales was 8,785.68 million baht, or accounting for 35.08% of total sales, an increase of 315.77 million baht or an increase of 3.73%.

NER stated that the decrease in sales income in 2023 is due to the rubber price situation that has decreased. Compared to 2022, the average selling price of rubber products in 2023 decreased by 10.71%, with lower income. Divided into a decrease in price difference of 3,003.90 million baht and divided into an increase in volume difference of 2,875.43 million baht.

In 2023, the company had a cost of sales of 22,231.93 million baht or 88.77% of sales revenue. The cost of raw materials and consumables was 21,410.11 million baht, accounting for 85.49% of sales revenue. Compared to 2022, costs increased by 0.91%, with the company’s raw material costs increasing due to fluctuations in rubber prices in 2023, directly affecting the proportion of rubber raw material costs compared to income with higher costs.

In addition, the Board of Directors approved a dividend payment of THB 0.29 per share to be paid on 9 May 2024. The ex-dividend date is 22 April 2024.