PLANB : Expect Solid Earnings to Persist Throughout 2023’’

PLANB : “Expect Solid Earnings Growth to Remain Throughout 2023’’

PLANB : Expect Earnings to Hit 10-Quarter High in 2Q22

PLANB: Acquisition of New OOH Media Capacity Seems Worthwhile

PLANB: Solid Performance for OOH Business Throughout 2022

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

Pi Research

Thai Equity - Bottom-up - Equities

Leading, full-service investment firm in Thailand

Pi Securities PCL, Thailand

Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clients. We offer one - stop service providing full range of financial products and services including extensive Brokerage, Proprietary Trading (Equities and Bonds), Advisory Services, Structured Products.

Moreover, our new research team tailored for institutional clients to focus on mid to small cap of Thai equities and trading strategies. Our services offered to our premium clients also include arrangement of company or site visits to with the managements of Thai listed companies.

Note: Effective on 1 March 2022, Country Group Securities PCL changed its name to Pi Securities

Equity Bottom-Up

<ul>
<li>Maintain BUY recommendation for PLANB, and target price of Bt7.80.  The company report 2Q22 net profit at Bt174m, the highest level in the past ten quarter.</li>
<li>Solid earnings from 2Q22 and onwards until year ended Media revenue hit all-time high at Bt1.3bn (+67%YoY +30%QoQ) supported by media capacity that expands 18%QoQ to Bt2.3bn</li>
<li>Engagement Marketing business post revenue at Bt284m. +3%YoY +56%QoQ) while contributed 20% of total revenue. YoY and QoQ increase were due to an increase in revenue from BNK48</li>
</ul>


Maintain BUY recommendation for PLANB, and target price of Bt7.80.  The company report 2Q22 net profit at Bt174m, the highest level in the past ten quarter.
Solid earnings from 2Q22 and onwards until year ended Media revenue hit all-time high at Bt1.3bn (+67%YoY +30%QoQ) supported by media capacity that expands 18%QoQ to Bt2.3bn
Engagement Marketing business post revenue at Bt284m. +3%YoY +56%QoQ) while contributed 20% of total revenue. YoY and QoQ increase were due to an increase in revenue from BNK48


PLANB : Earnings Hit 10-Quarter High in 2Q22, Above Market and Our

Plan B Media

PLANB : Earnings Hit 10-Quarter High in 2Q22, Above Market and Our