FTE has announced its Q3/2022 performance, reporting total revenue of 292.06 million baht, a 36.08% increase in net profit. The board has approved an interim dividend of 0.03 baht per share. The outlook for Q4/2022 remains positive, with plans to deliver projects worth a total of 200 million baht, a backlog of 500 million baht, and anticipation of winning bids for 20 projects valued at 450 million baht. Full-year revenue is expected to grow compared to last year, maintaining a net profit margin of 6-7%.

Mr. Thaksin Tantiphaichit, CEO of Firetrade Engineering Public Company Limited (FTE), a leader in importing and distributing comprehensive fire protection equipment and systems, revealed that the company's Q3 2022 revenue totaled 292.06 million baht, an increase of 40.03 million baht or 15.88% from 252.03 million baht in the same period last year. The net profit was 15.69 million baht, up 4.16 million baht or 36.08% from 11.53 million baht in the previous year.

For the nine-month period of 2022, the company reported total revenue of 767.11 million baht, a slight increase of 0.69 million baht or 0.09% from 766.42 million baht in the same period last year, with a net profit of 41.74 million baht, up 3.33 million baht or 8.67% from 38.41 million baht last year.

The overall increase in revenue is attributed to customers requesting gradual deliveries to sites and increased orders for stock. Additionally, the company has adjusted product prices in line with rising costs due to the depreciation of the baht.

The board of directors has approved an interim dividend payment to shareholders at a rate of 0.03 baht per share, representing a payout ratio of 93.53% of the net profit for the first half of 2022 (company-specific financial statements). The total cash dividend amounts to 17.80 million baht, with the record date for shareholders entitled to receive the dividend set for November 28, 2022, and the payment date on December 9, 2022.

Looking ahead to Q4 2022, the business outlook remains positive, with the company able to secure new bids and operate according to plan. There are projects expected to be completed and delivered, along with product sales to be shipped in the remaining months of the year, totaling over 200 million baht.

As of the end of September 2022, the backlog stands at approximately 500 million baht, divided into 150 million baht for distribution projects and 350 million baht for fire protection system design and installation projects. The company is also awaiting results for additional bids on 20 fire protection system design and installation projects, valued at around 450 million baht, while continuing to pursue public and private sector projects.

“The company imports various equipment from abroad, which exposes us to exchange rate fluctuations. However, we have mitigated this risk by entering into forward foreign exchange contracts and adjusting our sales strategies. Additionally, we plan to manage costs and control expenses more tightly to maintain our growth rate. We believe this will result in this year's performance exceeding last year's and maintaining a net profit margin of 6-7%,” Mr. Thaksin stated.