CPANEL has announced its financial results for the year 2023, reporting total revenue of 436.82 million baht and a net profit of 62.49 million baht. The company plans to distribute a dividend of 0.16 baht per share, with the payment scheduled for May 25. For the first quarter of 2024, CPANEL expects to continue recognizing revenue and is preparing to deliver projects worth a total of 110 million baht. The company has signed contracts with five new clients, valued at over 200 million baht, resulting in a backlog of 1,490 million baht.

Mr. Chakrit Tipakornsukasem, Managing Director of CPANEL Public Company Limited, a manufacturer and distributor of precast concrete products using fully automated systems for real estate construction projects, revealed that the company’s total revenue for 2023 was 436.82 million baht, an increase of 2.85 million baht from the previous year’s revenue of 433.97 million baht. However, the net profit decreased to 62.49 million baht, down from 68.00 million baht in the previous year, a drop of 5.52 million baht.

The overall performance for 2023 was similar to the previous year, as the third quarter saw a slight decline due to economic uncertainties following the elections, coupled with the rainy season which slowed down construction activities, leading to a slight decrease in sales and deliveries of precast concrete. However, orders have returned to normal since the fourth quarter of 2023.

Additionally, the company’s board has approved a cash dividend for shareholders at a rate of 0.16 baht per share, totaling no more than 26.11 million baht, which represents a dividend payout ratio of 41.78% of net profit after legal reserves. The record date for shareholders entitled to the dividend is set for May 8, with the payment scheduled for May 25. This resolution will be presented for approval at the annual general meeting of shareholders on April 25, 2024.

Looking ahead to the first quarter of 2024, the company anticipates continued growth, preparing to deliver projects to 15 clients across 19 projects, including 17 low-rise and 2 high-rise projects, with a total value of approximately 110 million baht. Recently, the company has signed new contracts with five clients, valued at over 200 million baht, consisting of three low-rise and two high-rise projects, resulting in a backlog of 1,490 million baht. Furthermore, the company is in negotiations with several clients for both low-rise and high-rise projects, expecting clarity soon.