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 have a positive view on the 4Q24E outlook, expecting earnings to have increased QoQ and turned profitable YoY, driven by higher sales and improved margins YoY and QoQ.</li><li>Business momentum is expected to continue recovering in 1Q25E, with a turnaround from the loss of Bt124mn in 1Q24.</li><li>The valuation metrics have been adjusted, with an upgrade of the short-term fundamental view to buy (previously neutral) alongside a revision of the long-term growth outlook to steady (previously strong). </li></ul>

We have a positive view on the 4Q24E outlook, expecting earnings to have increased QoQ and turned profitable YoY, driven by higher sales and improved margins YoY and QoQ.Business momentum is expected to continue recovering in 1Q25E, with a turnaround from the loss of Bt124mn in 1Q24.The valuation metrics have been adjusted, with an upgrade of the short-term fundamental view to buy (previously neutral) alongside a revision of the long-term growth outlook to steady (previously strong). 

Betagro - 4Q24E Core Profit to Have Increased 4% QoQ