CPANEL announces continued growth in Q3 and Q4 of 2022, enhancing machinery systems with a 10% increase in production capacity. Numerous orders for horizontal and vertical projects are on the horizon, with a backlog of 1,105.87 million baht. The overall real estate market shows positive trends, supported by the Long Term Visa encouraging foreign investments. In Q2/2022, the company achieved an All Time High revenue of 104.27 million baht, with profits reaching a new high, growing by 142.09% for the fourth consecutive quarter.

Mr. Chakrit Teepakornsukasem, Managing Director of CPANEL Public Company Limited, a producer 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 continuous new highs due to the development of efficient production systems, which have increased production capacity by 10%. This enhancement allows for faster and larger-scale production of precast concrete, reducing errors and losses while delivering projects more quickly and at lower costs.

Additionally, the company has attracted 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 projects in Bangkok and its vicinity continues to grow, and major real estate developers are consistently diversifying their investments in new projects. Meanwhile, 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 added.

Mr. Chakrit further noted that various factors affecting the economic situation, such as the COVID-19 pandemic and the Russia-Ukraine war, have led to inflation and rising interest rates. As a result, various agencies predict that Thailand may face a potential economic downturn. The company is closely monitoring the situation to adjust its business management strategies. However, the company does not foresee any risks from these impacts, 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 growth according to its planned strategy in the second 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.