CPANEL announces its business direction for Q4/2023, showing continuous growth with ongoing client negotiations, focusing on adding hotel and condo projects to its portfolio. Positive factors include tourism stimulus policies and long-term foreign visas, which increase demand for housing. High interest rates, rising minimum wages, and a decreasing labor force support the demand for Precast Concrete for faster construction and cost reduction, while emphasizing the strategy of Green Construction Technology to enhance project opportunities. For the first nine months of 2023, the company reported revenue of 328.46 million baht and a net profit of 47.90 million baht.

Mr. Chakrit Tipakornsukasem, Managing Director of CPANEL Public Company Limited, a producer and distributor of fully automated precast concrete products for real estate construction projects, revealed that the business outlook for Q4 2023 is expected to continue growing due to the economic recovery and increasing demand for housing. The company is in ongoing negotiations with clients for both low-rise and high-rise projects in Bangkok, its suburbs, and major cities, focusing on diverse designs such as hotels and condominiums.

The overall real estate market is supported by tourism stimulus policies and long-term foreign visas, resulting in an increase in foreign residents in Thailand, which in turn raises the demand for both low-rise and high-rise housing.

Additionally, other factors such as rising domestic interest rates, currency fluctuations, geopolitical issues in various regions, along with the increase in minimum wages and a decrease in labor supply, may impact construction costs and cash flow, leading real estate operators to turn to Precast Concrete as it can help reduce costs and speed up construction, thereby improving financial liquidity.

Furthermore, the company focuses on the strategy of Green Construction Technology, such as continuously reducing carbon emissions in the production process, planning to switch to renewable energy, and converting raw materials into low-carbon materials, which will enhance competitiveness for clients. These factors present opportunities for securing projects and fostering growth for the company in the future.

For the first nine months of 2023, the company reported total revenue of 328.46 million baht, an increase from 316.73 million baht in the same period last year, representing an increase of 11.73 million baht or 3.70%. The net profit was 47.90 million baht, close to the previous year's net profit of 48.97 million baht. For Q3 2023 (July – September), the company reported total revenue of 103.51 million baht and a net profit of 13.28 million baht.