CENTEL: Brighter Outlook in 2022 and Beyond

CENTEL: Hotel Business Recovery Drives 1Q22 EBITDA Growth

CENTEL : Expect CENTEL to Make Profit in 2Q22

CENTEL: 3Q20 Should Be the Bottom Quarter

CENTEL: Losses Continue into 2021 Earnings

CENTEL: Losses Continue into 1Q21 Earnings

Thai Equity - Bottom-up - Equities, Pi Securities PCL, Thailand

Pi Research

Thai Equity - Bottom-up - Equities

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Equity Bottom-Up

<ul>
<li>CENTEL reported 3Q21 net loss at Bt803m compared to net loss of Bt897m in 3Q20 and net loss of Bt606m in 2Q21.</li>
<li>3Q21 EBITDA was at Bt240m (+641%YoY, -21%QoQ) mainly eroded by extended lockdown and curfew measures in Thailand.</li>
<li>Trimmed 2021-23E forecast to factor in slower-than-expected recovery of tourists.</li>
</ul>


CENTEL reported 3Q21 net loss at Bt803m compared to net loss of Bt897m in 3Q20 and net loss of Bt606m in 2Q21.
3Q21 EBITDA was at Bt240m (+641%YoY, -21%QoQ) mainly eroded by extended lockdown and curfew measures in Thailand.
Trimmed 2021-23E forecast to factor in slower-than-expected recovery of tourists.


CENTEL: The Seventh Consecutive Quarter Loss in 3Q21

Central Plaza Hotel

CENTEL: The Seventh Consecutive Quarter Loss in 3Q21