CPANEL has revealed a positive outlook for the fourth quarter of 2024, indicating an improvement in project acquisition after reaching a low point. The company is advancing its plan to diversify its portfolio and has accumulated a backlog of 1.434 billion baht, with continuous revenue recognition expected. They are poised to take on new government projects while focusing on efficient cost management to navigate the challenges posed by a slowing real estate market. For the first nine months of 2024, the company reported revenue of 221.75 million baht and a profit of 8.12 million baht.

Mr. Chakrit Tipakornsukasem, Managing Director of CPANEL Public Company Limited, a manufacturer and distributor of fully automated precast concrete products used in real estate construction projects, stated that the business direction for Q4/2024 is more promising than Q3/2024. The company anticipates a strong recovery after the real estate market hit its lowest point. CPANEL has adjusted its operational strategy to expand its customer base in the public sector while also diversifying its private sector clientele, including industrial factories, hotels, hospitals, and both horizontal and vertical real estate projects.

The company is currently negotiating to secure additional government contracts and is continuously participating in new project bids, which will help increase its workload and create opportunities for revenue growth.

“In a climate where the overall construction industry is slowing due to economic conditions, our company continues to perform better than the industry average. This is due to our operational strategy focused on sustainable business development, efficient cost management, product development aligned with market demands, and an increased focus on expanding our public sector customer base, all in line with our planned objectives. Currently, our backlog stands at 1.434 billion baht, with additional revenue expected to be recognized from Q4/2024 to Q1/2025,” Mr. Chakrit added.

The company remains committed to being a leader in the precast concrete product market, emphasizing the development of environmentally friendly products that meet the diverse needs of its customers. Additionally, CPANEL is focused on expanding its customer base to ensure sustainable growth,” Mr. Chakrit stated.

For the nine-month financial results of 2024, the company reported total revenue of 221.75 million baht and a net profit of 8.12 million baht, impacted by the economic downturn, the slowdown in the real estate market, and a decrease in new project launches by operators. In Q3/2024, the company reported total revenue of 40 million baht and a net loss of 10 million baht.