CIVIL has revealed its operational direction for the third quarter of 2022, focusing on efficient management of ongoing construction projects and delivering work as planned, alongside continuous cost management strategies for materials such as steel, concrete, fuel, and labor. This comes amid a crisis situation that directly impacts material costs and operations in the construction industry.

Additionally, the company plans to bid for both public and private sector projects, particularly large-scale government infrastructure projects that are about to be auctioned, including highway and expressway construction, dam and water system projects, airport construction and upgrades, and high-speed rail construction, with a total value exceeding 17 billion baht.

“Despite the construction business facing multiple crises, including war, labor shortages, fluctuating material costs, inflation, and rising construction wages, which are difficult to avoid, the company continues to manage construction projects effectively, delivering work on time and with cost efficiency while prioritizing safety. We are committed to improving project management and material procurement, and we are preparing to bid for government mega-projects, confident that we can achieve our revenue growth target of 20%, or 6,000-6,500 million baht,” said Mr. Piyadit Asawasirisuk, CEO of Civil Engineering Public Company Limited (CIVIL).

In the second quarter of 2022, the company reported total revenue of 1,561 million baht, an increase from 1,223 million baht in the same period last year, representing a growth of 28%. The net profit was 30 million baht, down from 44 million baht in the previous year.

For the first half of 2022, the company achieved total revenue of 3,211 million baht, up from 2,410 million baht in the same period last year, an increase of 33%. The net profit stood at 71 million baht, down from 113 million baht in the previous year.

The revenue increase is attributed to the progress of railway and high-speed rail construction projects, which accounted for 51% of the total in the first half of 2022, while road projects made up 31%.

However, the net profit decreased compared to the same period last year due to the continuous rise in material costs and extended construction timelines, leading the company to adjust its cost estimates, particularly for steel, concrete, and fuel, which continue to impact the construction industry broadly. Nevertheless, the company maintains a good profit margin compared to the industry average.