CPANEL has announced its business direction for the third quarter of 2023, showing continuous growth with a backlog of 1,476.38 million baht. Projects in both horizontal and vertical construction are set to receive numerous orders, driven by eco-friendly trends, rapid construction, and cost reduction, which support the demand for Precast Concrete. The company reported a revenue of 224.94 million baht in the first half of the year, with a profit growth of 40.62%.

Mr. Chakrit Teepakornsukasem, Managing Director of CPANEL Public Company Limited, a manufacturer and distributor of fully automated precast concrete products used in real estate construction projects, revealed that the business outlook for Q3 2023 is expanding due to both new and existing customers.

As of August 16, 2023, the company has a backlog of signed contracts worth 1,476.38 million baht, with expected revenue recognition of 267.54 million baht this year and 1,208.84 million baht in 2024. Additionally, the company is awaiting contracts with nine new clients for both horizontal and vertical projects, valued at over 250 million baht, with clarity expected within this year.

Despite the overall real estate market showing signs of slowing down in the second half of the year due to economic volatility, many real estate developers still plan to invest in new projects, particularly mid-to-high level developers, who make up the majority of the company's customer base. Furthermore, the trend towards eco-friendliness and consumer behavior shifting towards environmentally friendly products has increased the demand for Precast Concrete.

CPANEL's Precast Concrete solutions meet a wide range of needs, including fast delivery, reduced construction costs, decreased labor requirements, and minimized dust and pollution from construction activities. These factors present opportunities for the company to secure more contracts.

For the first half of 2023, the company reported total revenue of 224.94 million baht, an increase from 194.57 million baht in the same period last year, representing a growth of 30.37 million baht or 15.61%. The net profit was 34.62 million baht, up from 24.62 million baht in the previous year, an increase of 10 million baht or 40.62%.

In the second quarter of 2023, the company reported total revenue of 106.36 million baht, an increase from 104.27 million baht in the same period last year, a rise of 2.09 million baht or 2%. The net profit was 15.53 million baht, up from 13.00 million baht in the previous year, an increase of 2.52 million baht or 19.38%.