DPAINT, Delta Color Public Company Limited, has reported its Q1 2023 performance with total revenue of 260.3 million baht and a net profit of 16.2 million baht, marking a robust growth of 48.4%. The company is aggressively expanding in multiple dimensions, launching new products and partnering with allies to drive full-scale business growth towards its goal of becoming a leading provider of comprehensive innovative paints. The company is confident in achieving a 30% growth this year.

Mr. Ronarit Tangkarawakun, CEO of Delta Color Public Company Limited, stated that in 2023, the company aims for a total revenue growth of 25-30% compared to 2022. The strategy involves a 360 Integrated Development approach covering all dimensions, including the launch of innovative new products in both the paint and construction chemical segments, which are new markets for the company. Additionally, the company is focusing on increasing collaboration with retail partners to foster mutual growth. Furthermore, DPAINT is emphasizing the expansion of project customers and the CLMV market. The company has expanded its senior and mid-level management teams since Q1 to support this growth, aiming for a revenue target of 2 billion baht within three years.

Mr. Atthapol Tangkarawakun, CFO of Delta Color Public Company Limited, reported that in the first three months of 2023, the company achieved total revenue of 260.3 million baht, an increase of 19.4% compared to the same period last year, which had total revenue of 218.1 million baht. This growth was primarily due to increased sales volume and higher average selling prices. Revenue from sales increased across all distribution channels, particularly from retail stores, including modern retail and traditional retail. The company and its subsidiaries generated net sales and services revenue from special quality paints at 40.6%, high-quality paints at 31.9%, and value-for-money paints at 27.4%. The net profit for the first three months of 2023 was 16.2 million baht, up 48.4%, due to increased revenue and more efficient management of raw material prices and other production costs. In this quarter, DPAINT achieved a gross profit margin of 39.1% and a net profit margin of 6.2%, a 24% increase from Q1 of the previous year. The company also maintains a low debt-to-equity ratio (D/E) of just 0.8 times and has no interest-bearing debt, positioning it well for continuous business expansion to generate good returns for shareholders.

Mr. Mongkol Tangjaipitak, co-CEO of Delta Color Public Company Limited, stated, "DPAINT has adjusted its business strategy to become a leader in innovative paints and comprehensive construction chemicals, moving beyond a sole focus on paint products. This year, the company has launched new products in the construction chemical segment, aiming to introduce a total of 30 products this year to meet the needs of all customer groups, including painters, construction workers, project customers, and homeowners. The construction chemical market is valued at approximately 17 billion baht and is growing at a high rate of about 20-30% per year, which is significantly higher than the architectural paint market, valued at around 30 billion baht and expected to grow at about 3-5% annually.

"DPAINT's expansion into the construction chemical market presents opportunities for rapid and sustained growth. The construction chemical segment has a high gross profit margin and can continue to grow alongside the construction contracting industry. The company is focused on developing innovative products to address the specific needs of project owners and contractors. Moreover, DPAINT sees opportunities in the recovery of the real estate business, both in horizontal and high-rise projects, which will positively impact the paint, construction chemical, and building materials businesses, as well as opportunities in the hardware business that still has significant growth potential."

DPAINT has a policy of fostering stable growth through investments or joint ventures with business partners ready to grow together. Recently, the company's board approved an investment in Home Paint Co., Ltd., a leading network of building paint distribution centers in Thailand, which has shown continuous business growth, acquiring a 15% stake with an investment budget not exceeding 75 million baht. The company has completed its cash flow analysis and valuation assessment. Home Paint Co., Ltd. plans to list on the stock exchange in the near future to support sustainable growth. Additionally, DPAINT is exploring investments in various projects and businesses to generate good returns for shareholders and diversify business risks.