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 2Q24 profit hit a new record and beat our forecast, driven by a better-than-expected profit margin, while sales grew in line with the expectation.</li><li>3Q is a good sales season for overseas markets, especially Europe and the US, supporting the profit growth momentum. We maintain our 2024E profit estimate.</li><li>KTX maintains an Outperform rating, with a 12M FV of Bt97.77, based on the earnings yield and a required return of 5.1%.</li></ul>

The 2Q24 profit hit a new record and beat our forecast, driven by a better-than-expected profit margin, while sales grew in line with the expectation.3Q is a good sales season for overseas markets, especially Europe and the US, supporting the profit growth momentum. We maintain our 2024E profit estimate.KTX maintains an Outperform rating, with a 12M FV of Bt97.77, based on the earnings yield and a required return of 5.1%.

Sappe - Record-High Sales and Profit in 2Q24

Sappe Pcl

Sappe - Record-High Sales and Profit in 2Q24