CPANEL has announced a positive business outlook for Q2 2023, securing contracts with 6 new clients worth 263.80 million baht, which increases its backlog to 1,311.79 million baht. The company is ramping up production capacity by 25% and enhancing design capabilities to meet diverse architectural styles, while promoting innovative Precast technology that offers excellent sound insulation performance. In Q1 2023, the company reported total revenue of 118.58 million baht and a net profit of 19.09 million baht.

Mr. Chakrit Tipakornsukasem, Managing Director of CPANEL Public Company Limited, a manufacturer and distributor of fully automated precast concrete products for real estate construction projects, stated that the business outlook for Q2 2023 remains strong. The company has signed contracts with 4 new low-rise clients, totaling 261 units, and 2 high-rise clients, totaling 3 buildings, with a combined value of 263.80 million baht. This brings the company's backlog as of May 17, 2023, to approximately 1,311.79 million baht, with ongoing negotiations with several other clients.

Currently, the company operates at 71% capacity, equivalent to 792,000 square meters. Due to the increasing demand for precast concrete, CPANEL plans to boost production capacity by an additional 25% to 990,000 square meters in Q3 2023, while also developing diverse design options to better serve property developers.

Additionally, the company has passed the Field Sound Transmission Class Measurement (FSTC) test, which measures sound insulation in buildings according to ASTM E-336-97 or ISO 3382-2 standards for hotels, condominiums, and apartments. The tests on CPANEL's precast concrete revealed a wall sound insulation value of FSTC 54 decibels, achieving an Excellent Performance rating, exceeding the National Building Code standard of FSTC not lower than 50 decibels.

In terms of financial performance for Q1 2023, the company reported total revenue of 118.58 million baht, an increase from 90.30 million baht in the same period last year, representing a rise of 28.28 million baht or 31.32%. The net profit was 19.09 million baht, up from 11.61 million baht in the previous year, an increase of 7.48 million baht or 64.43%.