Somboon Advance Technology Public Co., Ltd. Business Report FY ended Dec. 2018
|(in million THB)|
|FY ended Dec. 31, 2018||FY ended Dec. 31, 2017||Rate of change (%)||Factors|
1) Net Sales
-The Company’s sales for the fiscal year ended December 31, 2018 totaled THB 8,193.8 million, a decrease of 4.6% from the previous year. This can be explained by the fact that the 2017 figure included sale from spring business, which was transferred to the joint venture company at the end of 2017. If sale from spring business were to be excluded in 2017, the revenue from sale of goods and rendering of services of the year 2018 would have been higher compared to the same period last year driven increase in automotive industry and in agricultural machineries industry, and also additional sale from new orders this year.
2) Net Profit
-In the fiscal year ended December 31, 2018, the Company’s net profit is increased by 12.9% to THB 915.6 million, mainly from the higher of profit from operation and lower financial cost.
ｰAnnounced that it has received orders from tier-1 suppliers in the country for passenger cars, and for OEM parts in Indonesia. The total value of these two orders is more than THB 300 million and the profit will be realized within the year. In addition, the company is discussing with its partners to do merger and acquisition to expand its business. (From an article of Thun Hoon on August 1, 2018)
ｰAnnounced that is has received a new order of automotive parts from a foreign firm for Q4/2018 valued at THB 100 million. For the first half of 2018, the company has completed a THB 100 million valued order and believes that in Q2/2018 is the lower point of sales. In Q1/2018, the company reported revenue of THB 2.02 billion, which THB 1.99 billion is from sales. SAT believes that the car production in Thailand will rise up to 2.1 million units and that it has been receiving new orders continuously. The company predicts that sales will recover in the second half of 2018 comparing to the first half. However, SAT forecasts that its revenue will decrease 5-6% from 2017 at THB 8.89 billion. (From an article of Thun Hoon on July 10, 2018)
-The company expects to see 6% growth in 2019’s total income compared with 2018. (From an article of Post Today on November 1, 2018)
Market share of Major Products
|Products||Company||FY ended Dec. 31, 2018||FY ended Dec. 31, 2017||FY ended Dec. 31, 2016|
|Rear axle shafts||Somboon Advance Technology Public Co., Ltd. (SAT)||72||70||76|
|Disc brakes*||Somboon Malleable Iron Industrial Co,. Ltd. (SBM)||34||25||25|
|Drum brakes*||Somboon Malleable Iron Industrial Co,. Ltd. (SBM)||11||-||-|
|Coil springs||Bangkok Spring Industrial Co., Ltd. (BSK)||-||25||31|
|Stabilizer bars||Bangkok Spring Industrial Co., Ltd. (BSK)||-||21||27|
|Leaf springs||Bangkok Spring Industrial Co., Ltd. (BSK)||-||-||-|
|Hubs||Somboon Forging Technology Co., Ltd. (SFT)||-||11||12|
-In the fiscal year 2016 and 2017, these products had been reported as Disk and Drum brakes.
-In December 2017, BSK sold its spring production lines to the joint venture company, called Mubea Somboon Automotive Co., Ltd. (or MSA)
-In the fiscal year ended December 31, 2018, the Company and its subsidiary have the cost for the research and development of technology, total of 78.30 million baht.
Technical Assistance Agreements
|Company||Technical assistance from|
|Somboon Advance Technology Public Co., Ltd. (SAT)||Ibara Seiki|
|Somboon Malleable Iron Industrial Co,. Ltd. (SBM)||Ibara Seiki|
|(in million THB)|
|FY ended Dec. 31, 2018||FY ended Dec. 31, 2017||FY ended Dec. 31, 2016|