CIVIL reveals its 9-month performance for 2022 with total revenue of 4.629 billion baht and net profit of 2 million baht. The business direction for Q4/2022 focuses on enhancing project management efficiency and managing costs amid the construction industry crisis. The company highlights its strong cash flow, increasing opportunities for private contracts and large public infrastructure projects, and is confident that 2022 revenue will meet the target of 6 billion baht while maintaining a good profit margin.

Mr. Piyadit Asawasirisuk, CEO of Civil Engineering Public Company Limited (CIVIL), a leading Thai engineering firm specializing in comprehensive construction technology, disclosed that for the 9-month period of 2022, the company achieved total revenue of 4.629 billion baht, an increase of 893 million baht from the same period last year, which had total revenue of 3.736 billion baht. The net profit was 2 million baht, down from 170 million baht in the previous year, a decrease of 168 million baht. In Q3/2022, the company reported total revenue of 1.418 billion baht, up from 1.326 billion baht in the same period last year, but recorded a net loss of 69 million baht, down from a net profit of 57 million baht in the previous year.

The increase in revenue over the 9-month period was attributed to progress in projects involving dual-track railways and high-speed rail, as well as road construction projects, including highways, overpasses, and expressways, such as those for the Department of Highways and the Expressway Authority of Thailand. However, the Q3/2022 performance declined due to rising construction costs amid the global economic crisis and ongoing impacts from the COVID-19 pandemic, including increases in steel prices, construction materials, supply chain issues, and labor costs, as well as operational costs for government projects that the company has had contract extensions for.

Looking ahead to Q4/2022, the company aims to operate efficiently, develop technology and personnel to manage projects within deadlines, and seek new opportunities in both public and private sectors. The company's cost management and construction operations will be adjusted to align with the current economic situation.

“The construction industry is one of the sectors significantly impacted by the ongoing global crisis affecting all industries. This presents a considerable challenge for the company's management. However, we continue to manage construction projects effectively, striving to improve efficiency and maintain appropriate cost levels. Additionally, the company has strong cash flow and is prepared to take on future construction projects amid a volatile economic environment, especially with the government's increased promotion of infrastructure development. Given these factors, we believe that in 2022, the company will achieve its revenue target of 6 billion baht and maintain a good profit margin,” Mr. Piyadit stated.