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>1Q24E is anticipated to represent the low season for both sales and profit margins, aligning with reduced tuna costs and the non-peak sales period typically observed in the first quarter.</li><li>However, sales volume is projected to surge during the peak sales seasons in 2Q-3Q, and an improvement in profit margins is expected in 2H24E.</li><li>While the lukewarm earnings outlook for 1Q24E may exert short-term downward pressure on the share price, it presents an opportune time for investment. </li></ul>

1Q24E is anticipated to represent the low season for both sales and profit margins, aligning with reduced tuna costs and the non-peak sales period typically observed in the first quarter.However, sales volume is projected to surge during the peak sales seasons in 2Q-3Q, and an improvement in profit margins is expected in 2H24E.While the lukewarm earnings outlook for 1Q24E may exert short-term downward pressure on the share price, it presents an opportune time for investment. 

Thai Union Group - 1Q24E Earnings to Increase 12% YoY but Drop 31% QoQ