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

Equity Bottom-Up

<ul><li>We expect the 2Q24E core profit to have grown further QoQ, but FX losses likely weighed on net profit, resulting in a weak YoY and QoQ performance.</li><li>The IU margin outlook may also weaken in 2H24E due to a stable Ft in the final period and higher gas costs HoH.</li><li>These factors may have already been priced into the stock to a certain degree, while the key assumptions for 2024E remain in line with our projections. </li></ul>

We expect the 2Q24E core profit to have grown further QoQ, but FX losses likely weighed on net profit, resulting in a weak YoY and QoQ performance.The IU margin outlook may also weaken in 2H24E due to a stable Ft in the final period and higher gas costs HoH.These factors may have already been priced into the stock to a certain degree, while the key assumptions for 2024E remain in line with our projections. 

B.grimm Power - Expect 2Q24E Core Profit Growth QoQ but NP Pressured by FX Loss

B Grimm Power

B.grimm Power - Expect 2Q24E Core Profit Growth QoQ but NP Pressured by FX Loss