Stock dimensions – SEAFCO’s turnaround time, keep an eye on Q1/23, turning a strong profit after ordering a backlog of more than 1.5 billion baht, plus bidding for new work of more than 4 billion baht. Going to work in Bangladesh, beat the target by 5.20 baht.
SEAFCO revealed by “Mr. Narong Thasnanipan”, President, that in 2023, the operating results are expected to turn positive. and still have a chance to get more new jobs Currently, he is waiting for the result of the auction of about 4 billion baht.
Q1 turned a strong profit.
“Finansia analyst Syrus Securities” revealed that SEAFCO expects Q1/23 net profit to recover sharply from 20-30 million baht, compared to Q1/21 with a loss of 43 million baht and Q4/22 with a net profit of 10 million baht. gradually recognizing revenue, a backlog of 1.5 billion baht, which will be recognized gradually in Q4/23, with 66% of the contract being wage work only. which has a high profit margin Including recognizing the progress of the Rama 2 elevation work, the South Purple Line and the North Pole project, etc.
go to work in bangladesh
For the full year 2023, a net profit of 114 million baht is expected, turning positive from a loss of 129 million baht in 2022, driven by increasing numbers of employees and a higher machine utilization rate, and the 2023 gross profit margin is expected to be higher than 10% from last year -7% from year 67. Recommend “buy” with a target of 4.70 baht.
On the side “Dao Securities” recommends “buy” with a target of 5.20 baht because the backlog has returned to full transformation while the opportunity to add new positions is still high. Performance is expected to grow each quarter.
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