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>3Q24 profit declined QoQ due to seasonal factors and a weaker marketing margin but showed strong YoY growth, driven by an increased oil sales volume base and robust growth in the gross profit of non-oil businesses.</li><li>We maintain our 2024-26E net profit forecasts, expecting steady profit growth over the next two years (at 10% CAGR).</li><li>The decline in the stock price already reflects the 3Q24 performance. </li></ul>

3Q24 profit declined QoQ due to seasonal factors and a weaker marketing margin but showed strong YoY growth, driven by an increased oil sales volume base and robust growth in the gross profit of non-oil businesses.We maintain our 2024-26E net profit forecasts, expecting steady profit growth over the next two years (at 10% CAGR).The decline in the stock price already reflects the 3Q24 performance. 

Ptg Energy - 3Q24 Earnings Fell QoQ (Seasonal Factors, Weak Marketing Margin)

PTG Energy PCL

Ptg Energy - 3Q24 Earnings Fell QoQ (Seasonal Factors, Weak Marketing Margin)