COM7 Public Company Limited (SET: COM7) has delivered a strong start to the 2026 fiscal year, demonstrating significant operational resilience despite global macroeconomic headwinds.
For the first quarter ending March 31, 2026, the company reported a net profit attributable to owners of THB 1,226 million, representing a 25.0% year-on-year (YoY) increase from THB 981 million in 1Q25. This robust bottom-line performance was underpinned by a 12.5% growth in revenue from sales and services, reaching THB 23,513 million.
The revenue expansion was primarily driven by the sustained market dominance of the iPhone portfolio and successful strategic diversification. Notable gains were observed in the “Green Mobility” initiatives—including EV distribution and leasing—and the Solar Rooftop business, which saw multifold market traction. Concurrently, the company’s Hire-Purchase segment, UFUND, experienced exponential growth as consumers increasingly pivoted toward structured credit programs.
Profitability was further enhanced by an improvement in gross profit margin from 13.6% to 14.0%, resulting in a gross profit of THB 3,323 million. This margin expansion is attributed to cost optimization within core retail and the higher margin profiles of the company’s subsidiaries. Additionally, finance costs decreased by 11.5% to THB 67 million, aided by capital structure refinements and a lower policy rate environment.
While selling and administrative expenses (SG&A) rose by 13.0% to THB 1,851 million to support expansion, SG&A intensity remained stable at 7.8%. One area of significant change was impairment losses on financial assets, which jumped 267.6% to THB 98 million. This increase is linked to the aggressive scaling of the loan book, though the Non-Performing Loan (NPL) ratio remains healthy at below 1.0%.
Looking ahead, COM7 maintains its 2026 guidance for 10% revenue growth and 10%-15% net profit growth. The company continues to optimize its footprint, ending the quarter with 1,323 retail locations after divesting 15 underperforming units to focus on high-margin brands like Studio7 and BaNANA.
