Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Thematic (Sector/Industry)

Thailand Consumer staples / Thematic (Sector/Industry)

<ul><li>The 4Q24E earnings of the agribusiness and food sector are expected to recover YoY but decline QoQ, particularly for major livestock companies (with swine businesses in Thailand, Vietnam, and China), which are projected to turn from losses in 4Q23 to profits in 4Q24E.</li><li>This should be supported by continued momentum in profit margins due to lower raw material costs.</li><li>However, profits are expected to decline QoQ owing to the strong seasonal performance of the broiler export business in 3Q. </li></ul>

The 4Q24E earnings of the agribusiness and food sector are expected to recover YoY but decline QoQ, particularly for major livestock companies (with swine businesses in Thailand, Vietnam, and China), which are projected to turn from losses in 4Q23 to profits in 4Q24E.This should be supported by continued momentum in profit margins due to lower raw material costs.However, profits are expected to decline QoQ owing to the strong seasonal performance of the broiler export business in 3Q. 

Thai Foods Group Public Company Limited (TFG TB)

Srinanaporn Marketing Public Company Limited (SNNP TB)

Srinanaporn Marketing Public Company Limited

Agribusiness and Food Sector - DECEMBER 9, 2024