CPANEL reveals a continuous growth trend for Q3 and Q4 of 2022, enhancing machinery systems with a 10% increase in production capacity. Numerous orders for both horizontal and vertical projects are on the horizon, with a backlog of 1,105.87 million baht. The overall real estate market outlook is positive, supported by Long Term Visa policies encouraging foreign investments. In Q2/2022, the company achieved an All-Time High with revenue of 104.27 million baht, marking a new high profit growth of 142.09% for the fourth consecutive quarter.

Mr. Chakrit Tipakornsukasem, Managing Director of CPANEL Public Company Limited, a manufacturer and distributor of precast concrete products using fully automated systems for real estate construction projects, stated that the business outlook for Q3 and Q4 of 2022 is very promising. The company expects to achieve new highs continuously due to the development of efficient production systems, which have allowed for a 10% increase in production capacity. This enhancement enables faster and larger-scale production of precast concrete while reducing errors and waste, resulting in quicker project delivery at lower costs.

Additionally, the company has garnered interest from a diverse range of clients, including hotels, hospitals, shopping malls, and office buildings, presenting opportunities for future projects. Currently, the company has a backlog valued at approximately 1,105.87 million baht, which will gradually contribute to revenue in 2022-2023.

“The overall real estate industry is showing positive trends due to economic recovery. The number of new housing developments in Bangkok and its vicinity continues to grow, and major real estate developers are consistently diversifying their investments in new projects. Furthermore, high-rise projects are supported by the return of foreign nationals, and the Long Term Visa policy is improving the condominium and rental property markets,” Mr. Chakrit stated.

Mr. Chakrit further added that various factors impacting the economic situation, such as the COVID-19 pandemic and the Russia-Ukraine war, have led to inflation and rising interest rates. This has prompted agencies to speculate whether Thailand might enter a recession. The company is closely monitoring the situation to adjust its business strategies accordingly. However, the company does not foresee any risks from these factors, as precast concrete serves as a replacement product for traditional construction methods, addressing the needs for speed and labor shortages. Overall, the company believes it can maintain its growth trajectory as planned in the latter half of the year.

For Q2 of 2022, the company reported total revenue of 104.27 million baht, an increase of 47.02% compared to the same period last year, achieving a new high profit of 13.00 million baht, up 142.09% year-on-year. For the first half of 2022, the company recorded total revenue of 193.88 million baht, a 23.71% increase from the previous year, with a net profit of 24.61 million baht, up 46.58% year-on-year.