SMART has announced its financial results for the first nine months of 2022, reporting total revenue of 409.97 million baht and a net profit of 19.19 million baht. The policy of reopening the country has supported private sector investments, particularly in mega-projects, accelerating construction to support economic recovery. The outlook for Q4/2022 is optimistic, reflecting positive signals in both low-rise and high-rise real estate sectors, with increased project deliveries before the relaxation of LTV measures and the EEC project policy driving demand for construction materials and lightweight bricks.

Mr. Rangsit Teepakornsukasem, Managing Director of Smart Concrete Public Company Limited (SMART), a manufacturer and distributor of lightweight bricks using high-pressure steam curing for construction and wall partitioning, revealed that the financial results for the first nine months of 2022 showed total revenue of 409.97 million baht, an increase of 71.50 million baht from 338.47 million baht in the same period last year, while net profit was 19.19 million baht, down from 30.46 million baht in the previous year.

In Q3/2022, total revenue reached 144.04 million baht, up 40.69 million baht from 103.35 million baht in the same quarter last year, with a net profit of 7.96 million baht, an increase from 6.82 million baht in the previous year. The revenue growth is attributed to economic stimulus measures from the reopening of the country, prompting real estate developers in both low-rise and high-rise projects to accelerate construction for new project launches. Additionally, government projects, including public agency buildings and the Yellow and Pink Line electric train projects, are being expedited to meet delivery deadlines, resulting in increased demand for construction materials and lightweight bricks, while the selling price of lightweight bricks has also risen. However, net profit has decreased due to rising fuel and raw material costs.

Looking ahead to Q4/2022, the business is expected to grow well, with positive signals from real estate developers in both low-rise and high-rise projects accelerating sales activities to clear existing stock and ramping up construction of new projects before the relaxation of LTV measures. The residential sector, including buildings, hotels, and restaurants, is actively engaged in construction, renovation, and expansion, alongside government mega-projects such as the electric train and office building construction, moving forward as planned. Moreover, the investment promotion policy in the Eastern Economic Corridor (EEC) is driving investments in industrial estates, factories, and airport buildings, resulting in increased usage and demand for construction materials and lightweight bricks.

“The trend for environmentally conscious products is on the rise. Our company is focused on developing lightweight brick products to meet current consumer demands by utilizing resources efficiently through high-efficiency production processes that address energy savings and reduce greenhouse gas emissions (Net Zero), which helps mitigate global warming impacts. Additionally, this approach reduces costs and labor, addressing labor shortages in construction, such as special-sized lightweight bricks and decorative lightweight bricks. We are also actively marketing to raise product awareness through online media and social networks to reach target groups, including homeowners, architects, contractors, and home-building companies. Furthermore, we are expanding distribution channels through modern trade and online platforms to ensure our products reach customers nationwide. Currently, our products are available in 64 branches of Thai Watsadu, 68 branches of Global House, and 20 branches of DoHome across the country,” Mr. Rangsit stated.