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Sales revenue in 3Q20 amounted to 2,721.8 million baht, representing a reduction of 11.9% YoY. Following the recovery in the automotive market and the easing of COVID-19 lockdown measures, customer orders returned nearly to normal levels, particularly in September, and PCB sales increased by 26.6% QoQ, despite an order backlog of approximately USD4.5 million at the end of the quarter. Changes in foreign currency exchange rates had an impact on revenue recognition in Thai baht terms, which resulted in a gain of 59 million baht YoY.
Sales revenue in 3Q20 amounted to 2,721.8 million baht, representing a reduction of 11.9% YoY. Following the recovery in the automotive market and the easing of COVID-19 lockdown measures, customer orders returned nearly to normal levels, particularly in September, and PCB sales increased by 26.6% QoQ, despite an order backlog of approximately USD4.5 million at the end of the quarter. Changes in foreign currency exchange rates had an impact on revenue recognition in Thai baht terms, which resulted in a gain of 59 million baht YoY.
3Q18 Earnings ResultsThe 3Q18 net profit was ฿10.4bln, a turnover from a net loss of ฿8.7bln in 3Q17 due to Mariana Oil Sands Project impairment loss of ฿18.4bln. (+190% QoQ). Excluding net extra items of +฿758 million (including foreign exchange gain of ฿2.2bln., hedging loss of ฿296.7 million and Montara divestment loss of ฿1.22bln.) the normalised profit was ฿9.6bln (+30.5% YoY, -10.3% QoQ), lower than the market s average forecast of ฿12.4bln (Maybank estimates at ฿11.6bln) due to lower ASP, with higher than expected unit cost.
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