In today’s briefing:
- BEM : Expect 2Q22 Earnings to Hit 11 Quarter High
BEM : Expect 2Q22 Earnings to Hit 11 Quarter High
- Maintain BUY recommendation for BEM with a target price of Bt9.50.We expect the company to report 2Q22 net profit at Bt577m,the highest level in the past 11 quarter, mainly supported
- Strong recovery in earnings in2Q22 and 2H22 2Q22 Revenue shall be reported at Bt3.3bn (+36%YoY +6%QoQ) supported by solid rebound in daily average MRT ridership to 231k trips (+94%YoY +23%QoQ)
- We anticipate average daily MRT ridership to recover substantially in 2H22 to around 310k trips by end of this year,the level last time we have seen in Nov’21. However, pre-COVID
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