No. B8-2022-0067

11 August 2022

Re:

Management Discussion and Analysis for the Period Ended 30 June 2022

To:

President,

Stock Exchange of Thailand

Beryl 8 Plus Public Company Limited and its subsidiaries ("the Group") would like to summarize the Financial Performance for the period ended 30 June 2022 as below:

Unit : Million Baht

Consolidated financial performance

Q2

Q2

Change

6M

6M

Change

2021

M THB

%

2021

M THB

%

2022

2022

Revenues

Service income

135.83

91.55

44.28

48.37

258.71

178.80

79.91

44.69

Other income

0.74

0.14

0.60

428.57

1.67

0.20

1.47

718.63

Total revenues

136.57

91.69

44.88

48.95

260.38

179.01

81.37

31.25

Expenses

Cost of services

(77.11)

(43.28)

(33.83)

(78.17)

(145.41)

(89.38)

(56.03)

62.69

Selling expenses

(10.85)

(9.83)

(1.02)

(10.38)

(23.39)

(19.86)

(3.53)

17.77

Administrative expenses

(18.77)

(13.81)

(4.96)

(35.92)

(37.68)

(27.79)

(9.89)

35.59

Expected credit loss of trade

receivables

0.00

0.00

and contract assets

(0.14)

(2.24)

2.10

93.75

(0.13)

(2.11)

1.98

(93.84)

Operating profit

29.70

22.53

7.17

31.82

53.77

39.87

13.90

34.87

Financial cost

(0.49)

(0.48)

(0.01)

(2.08)

(0.84)

(0.97)

0.13

(13.40)

Profit before income tax

29.21

22.05

7.16

32.47

52.93

38.90

14.03

36.07

Income tax

0.80

0.09

0.71

(788.89)

0.87

0.33

0.54

163.64

Profit for the period

30.01

22.14

7.87

35.55

53.80

39.23

14.57

37.15

Revenue breakdown by service type are as below:

Unit : Million Baht

Revenue by service type

Q2

Q2

Change

6M

6M

Change

2021

M THB

%

2022

2021

M THB

%

2022

1. Strategy and Technology

Consulting

85.20

43.36

41.84

96.49

159.80

93.30

66.50

71.28

2. Technology Service

2.1 License and Subscription

34.12

19.84

14.28

71.98

67.85

39.23

28.62

72.95

2.2 Support and Maintenance and

Managed Service

16.51

28.35

(11.84)

(41.76)

31.06

46.28

(15.22)

(32.89)

Total Service Income

135.83

91.55

44.28

48.37

258.71

178.81

79.90

44.68

Financial performance summary of quarter 2/2022 compared to quarter 2/2021

For Q2/2022, the service revenue amounted to Baht 135.83 million, increased by Baht 44.28 million Baht or 48.37% QoQ. This is mainly from the revenue growth from Strategy and Technology Consulting and License and Subscription especially from mega project win during year end of 2021 and Q1/2022.

For Q2/2022 the net profit amounted 30.01 million Baht, increasing 7.87 million Baht or 35.55% QoQ. Net profit margin was 21.97% slightly decreased from the same period of last year due to the increasing of employees to support new projects.

Financial performance summary of 6-month period ended 30 June 2022 compared to 6-month period ended 30 June 2021 For the 6-monthperiod ended 30 June 2022, the service revenue amounted to Baht 258.71 million, increased by Baht 79.91 million or 44.69% compared to the same period of last year. This is mainly from the revenue growth from Strategy

and Technology Consulting and License and Subscription especially from mega project wined.

For the 6-month period ended 30 June 2022, the net profit amounted to 53.80 million Baht, increasing 14.57 million Baht or 37.15% compared to the same period of last year. Net profit margin was 20.66% which was slightly decreased from the increasing number of employees to support mega projects in the year 2022.

Statement of Financial Position

Unit : Million Baht

Statement of financial position

30 June

31 December

Change

2022

M THB

%

2022

ASSETS

Current Assets

Cash and cash equivalents

280.09

301.35

(21.26)

(7.05)

Investment in fixed income fund

200.90

200.64

0.26

0.13

Trade and other receivables

63.75

74.94

(11.19)

(14.93)

Contracts assets

128.98

61.68

67.30

109.11

Advance payments for services

41.75

22.52

19.23

85.39

Other current assets

4.47

2.58

1.89

73.26

Total current assets

719.94

663.71

56.23

8.47

Non-current assets

Restricted bank deposit

42.38

26.20

16.18

61.76

Leasehold improvement and equipment

14.39

13.12

1.27

9.68

Intangible assets

9.15

8.58

0.57

6.64

Deferred tax assets

14.43

13.51

0.92

6.81

Right-of-use assets

33.19

34.83

(1.64)

(4.71)

Other non-current assets

2.64

1.51

1.13

74.83

Total non-current assets

116.18

97.75

18.43

18.85

Total assets

836.12

761.46

74.66

9.80

Liabilities and shareholders' equity

Current liabilities

Trade and other payables

34.90

32.33

2.57

7.95

Current portion of lease liabilities

3.78

3.74

0.04

1.07

Statement of Financial Position

30 June

31 December

Change

2021

M THB

%

2022

Contracts liabilities

64.02

35.44

28.58

80.64

Income tax payables

0.28

1.42

(1.14)

(80.28)

Other current liabilities

14.05

12.82

1.23

9.59

Total current liabilities

117.03

85.75

31.28

36.48

Non-current liabilities

Lease liabilities, net of current portion

30.29

31.69

(1.40)

(4.42)

Provision for long-term employee benefits

25.58

22.83

2.75

12.05

Other non-current liabilities

2.32

2.29

0.03

1.31

Total non-current liabilities

58.19

56.81

1.38

2.43

Total liabilities

175.22

142.56

32.66

22.91

Issued and fully paid up capital

100.00

100.00

0.00

0.00

Share premium

486.25

486.25

0.00

0.00

Appropriated-statutory reserve

7.61

7.61

0.00

0.00

Unappropriated

66.67

24.87

41.80

168.07

Other components of shareholders' equity

0.37

0.17

0.20

117.65

Total shareholders' equity

660.90

618.90

42.00

6.79

Total liabilities and shareholders' equity

836.12

761.46

74.66

9.80

Total Assets

As of 30 June 2022 and 31 December 2021, total assets of the Group amounted to Baht 836.12 million, and Baht

761.46 million, respectively. Total assets increased by Baht 74.66 million from Contract assets of Baht 67.30 million and Advance payment for services of Baht 19.23 million from revenue growth. The decrease of Trade and other receivables of Baht 11.19 million, cash and cash equivalent amounted to Baht 21.26 million for working capital and to deposit as collateral to the bank guarantee.

Details of trade and other receivables as below:

Unit : Million Baht

Trade and Other Receivables

30 June

31 December

2022

2021

Trade receivables - related parties

0.00

0.07

Trade receivables - unrelated parties

97.33

108.51

Total trade receivables

97.33

108.58

Allowance for expected credit losses

(43.37)

(43.23)

Total trade receivables - net

53.96

65.35

Total trade and other receivables - net

63.75

74.95

Total Liabilities

As of 30 June 2022 and 31 December 2021, total liabilities of the Group Baht 175.22 million and Baht 142.56 million, respectively. Total liabilities increased by Baht 32.66 million from the increase in contract liabilities from advance received from service revenue at Baht 28.58 million. The increasing of trade and other payables of Baht 2.57 million according to the increasing of service revenue and license & subscription. The detail of trade and other payables as below:

Unit : Million Baht

Trade and Other Payables

30 June

31 December

2021

2022

Trade payables - unrelated parties

0.87

2.65

Trade payables - related parties

0.10

0.02

Other payables - unrelated parties

0.77

2.92

Dividend payables

0.00

0.00

Accrued expenses

0.87

26.74

Total trade and other payables

2.61

32.33

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Beryl 8 Plus pcl published this content on 11 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2022 15:16:03 UTC.