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.