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>The 1Q24 core profit beat our forecast due to the upbeat profit contribution from the US CCGT projects.</li><li>The 3Q24E earnings are expected to be the peak quarter of the year due to positive seasonal factors (at the US CCGT and Nam San 3A &amp; 3B projects), which should help enable core profit in 2024E to meet the target or see upside risk.</li><li>We stand by our view that the phase of low core profit will conclude in 2024E, with an uptrend projected thereafter. </li></ul>

The 1Q24 core profit beat our forecast due to the upbeat profit contribution from the US CCGT projects.The 3Q24E earnings are expected to be the peak quarter of the year due to positive seasonal factors (at the US CCGT and Nam San 3A &amp; 3B projects), which should help enable core profit in 2024E to meet the target or see upside risk.We stand by our view that the phase of low core profit will conclude in 2024E, with an uptrend projected thereafter. 

BCPG - Upbeat 1Q24 Earnings Due to High US CCGT Profit Contribution

BCPG PCL

BCPG - Upbeat 1Q24 Earnings Due to High US CCGT Profit Contribution