CPANEL has announced its Q1/2023 financial results, reporting revenue of 118.58 million baht and a net profit of 19.09 million baht, reflecting a growth of 64.43%. The business outlook for Q2/2023 is positive, with ongoing customer contracts and negotiations with several new clients. Announcement! CPANEL – W1 shareholders can exercise their rights from May 24 to May 30.

Mr. Chakrit Tipakornsukasem, Managing Director of CPANEL Public Company Limited, a manufacturer and distributor of fully automated precast concrete products for real estate construction projects, revealed that the company achieved total revenue of 118.58 million baht in Q1 2023, an increase from 90.30 million baht in the same period last year, representing a rise of 28.28 million baht or 31.32%. The net profit reached 19.09 million baht, up from 11.61 million baht in the previous year, an increase of 7.48 million baht or 64.43%.

The company's performance improved due to real estate developers gradually investing in new projects, leading to an increase in the sales volume of precast concrete. Additionally, the company has effectively managed production and sales costs, and the impact of economies of scale has resulted in a faster growth rate of net profit compared to sales.

For the operational direction in Q2 2023, the company continues to sign new customer contracts in both horizontal and vertical projects due to the rising demand for precast concrete. Furthermore, negotiations are ongoing with new clients focusing on diverse designs, including office buildings, hotels, and factories in industrial estates.

Meanwhile, holders of the first tranche of warrants to purchase additional common shares (CPANEL-W1) can exercise their rights to convert CPANEL-W1 into common shares of the company for the first time on May 31, 2023. The exercise ratio is 1 warrant for 1 additional common share (with a minimum exercise of 100 warrants) at an exercise price of 5 baht per share.

The company has set the period for expressing the intention to exercise rights from May 24 to May 30, 2023 (during business hours). Holders of CPANEL - W1 warrants can find more information on the procedures and methods for exercising their rights at www.cpanel.co.th or on the website of the Stock Exchange of Thailand at www.set.or.th.