SMART has announced its 2023 financial results, achieving total revenue of 713.82 million baht, a growth of 24.73%, with a net profit of 106.58 million baht, up 173.56%. The company is preparing to pay a dividend of 94.99 million baht as it moves into Q1 2024, focusing on product development in line with ESG policies to meet the demands of the real estate sector by increasingly using energy-efficient and environmentally friendly construction materials.

Mr. Rangsit Teepakornsukasem, Managing Director of Smart Concrete Public Company Limited (SMART), a producer and supplier of lightweight bricks using high-pressure steam curing for construction and wall partitioning, revealed that the company’s financial performance for 2023 showed total revenue of 713.82 million baht, an increase from 572.28 million baht in the previous year, representing a growth of 24.73%. The net profit reached 106.58 million baht, up from 38.96 million baht last year, marking an increase of 173.56%.

For Q4 2023, the company reported total revenue of 172.59 million baht, an increase from 162.31 million baht in the same period last year, which is a rise of 6.33%. The net profit for this quarter was 27.74 million baht, up from 19.77 million baht last year, reflecting a growth of 40.32%.

The increase in performance is attributed to the volume of orders in private construction projects, including residential projects, both low-rise and high-rise, commercial buildings, retail spaces, hotels, as well as government construction projects such as office buildings and airports. Additionally, there has been an increase in orders from industrial factory construction projects in the Eastern Economic Corridor (EEC). Currently, the company’s revenue is divided into 20% from government projects and 80% from private projects.

Furthermore, the company’s board has approved the payment of an annual dividend for 2023 to shareholders at a rate of 0.0912 baht per share, which accounts for 93.88% of the net profit after legal reserves, based on a dividend policy of no less than 40% of net profit, totaling 94.99 million baht. The final approval for the dividend payment will be sought from shareholders in April.

“For the business direction in Q1 2024, the company will continue its strategy of developing environmentally friendly products by integrating ESG principles to enhance production efficiency and advance the organization towards a green industry. We aim to be socially responsible both internally and externally throughout the supply chain for sustainable development, responding to the increasing demand in the real estate sector for energy-efficient and environmentally friendly materials,” Mr. Rangsit stated.