HoonSmart.com>>”Siam Technic Concrete” won the 115 kV transmission line project to support the backlog over 900 million baht, delivered by the end of this year. Confident in the results of the second half of the year
Mr. Watchai Mongkolsrisawasdi Chief Executive Officer of Siam Technic Concrete Company (STECH) revealed that the half-year business has recovered. And growing significantly more than the first half of the year due to backlog worth 900 million baht, divided into orders from the sale of prestressed concrete products and services worth more than 800 million baht, preparing to be delivered gradually. Recognize all income this year
In addition, the construction of a 115 kV high-voltage transmission line from the Provincial Electricity Authority (PEA) worth nearly 100 million baht (excluding VAT). which has already received an employment order Prepare to sign the contract within August, working period, supporting strong second-half income Compared to the first half Affected by COVID-19 As a result, the government has delayed the bidding process than planned. Most of the work started and delivered in the second half of the year.
At present, the company is in the process of pursuing new projects for more than 500 million baht, reflecting large-scale projects starting to move forward. especially government mega-projects, in which the Company has gained positive factors from 9 factories located almost all regions of Thailand. And the construction of the 10th factory in Chonburi, Branch 2 will be completed by the end of this year. Ready to accept orders from the Eastern Special Development Zone (EEC) project, which currently has many large-scale construction projects. As a result, the demand for prestressed concrete products is higher than other regions.
“The existing backlog is high. Although the government has tightened measures to control the Covid situation in Bangkok and its vicinity, but we have most of the work that continues as usual in other regions. And starting to see positive signs in the 3rd quarter, it is expected to grow more than the past 2 quarters. moving forward to produce products ready to be delivered in the second half of the year, including the highest safety measures in the factory Along with closely monitoring the situation of COVID and external factors, support STECH in 2021, it is expected to grow from the previous year for sure,” said Mr. Watchai.
As for the results, the second quarter net profit was 20.86 million baht, a decrease of 40.59 million baht or 66%, with total revenue 366.31 million baht, a decrease of 17.04% compared to the same period last year at 441.55 million baht.
For the first 6 months/64, net profit was 53.75 million baht, a decrease of 38.68 million baht or 41.84%, with total revenue of 760.09 million baht, a decrease of 10.59% compared to the same period of the previous year at 850.09 million baht. Sales and services fell only 4%, but construction projects had not started in the first six months, starting in the third quarter, and net profit margins were nearly 7%.
For the second quarter overall, the decline was due to a longer holiday period of more than 10 days in April. compared to last year Postpone the holidays during Songkran year 2020, including the impact of Covid-19 As a result, the investment in private projects was postponed and slowed. and the impact on entering the working area in various projects, while the government has auctioned the works that are later than planned and there is no income from construction. Currently the company There are already purchased sales that are expected to be recognized as revenue in the second half of the year.
In addition, the first half of the year had no income from the construction business. Compared to the first half of 2020, which had revenue from this segment of 56.25 million baht.
