Patkol upbeat about its trading starting July 28, with steady growth in revenue and margin this year

Stocks and Financial Services Press Releases Monday July 27, 2015 12:26
Bangkok--27 Jul--124 Communication Consultings

Patkol or PK unveiled its impressive net profit for 2014, announcing its return to the stock market on July 28 after momentary recovery. It has set up an office in Yangon, Myanmar, and has plans to renovate and upgrade its staff and facilities in order to expand its market to Asean, coinciding with AEC.

PK was registered in the Stock Exchange Market in 1993. Patkol PLC is a leading engineering company offering one stop service to clients - blueprints, consultation, planning, design and installation, and operation for clients in food, beverage, dairy, refrigeration, and ice making factories. Its products include refrigeration system for supermarkets, dairy products production, ice cream production, and other processed foods. The company was the first to develop tube?ice?machine in Thailand, and the first provider of clean and hygienic ice, produced in a system that meets international standard.

The company entered an alternative energy business worth 3 billion baht without expertise, so it was suspended from the SET on May 10, 2010. During that period, the company underwent a restructuring process and requested a rehabilitation plan. The company has successfully revived and exited Patkol's rehabilitation as ordered by the Central Bankruptcy Court on August 13, 2013. It is ready to re-enter the stock market on July 28.

Patkol Public Company Limited Managing Director Sangchai Chotchuangchatchaval said, "Patkol focuses on improving four main business units to cater to the food and food export industry, which has been growing steadily. These units include Refrigeration Business Unit - Patkol is the biggest Thai engineering operator in the Asean region to offer production, design, installation, spare parts, and tools of food storage system, industrial refrigeration storage, supermarket refrigeration, and processed food factory refrigeration system for meat, poultry, seafood, fruits, and vegetables. We have IQF freezer and Air Blast freezer to keep the food fresh during the process, from start to finish. Our technology is of the same quality as international competitors. We are also focused on conserving energy and the environment. Today, our market share is the biggest in Thailand and Asean. At present, 80% of our production is for the domestic market, and 20% for the international market. We aim to adjust that ratio to 50:50 within 3-5 years.

Our Dairy & Beverage Business Unit is divided into machine and system for machine for dairy and beverage industries such as milk, juices, teas, coffees, and beers. It also extends to systems and machine for liquid chemicals, such as shampoos, conditioners, body washes, and paints. Dairy factories need advanced technology to ensure hygiene and product safety. One of our biggest prides is that we designed, installed, and developed the systems for dairy cooperatives nationwide. We are the only company in Thailand to provide automatic dairy production systems of the same standard as international companies.

In Food Processing Engineering Business Unit, Patkol is the first and only Thai company to design and construct canned tuna factories and shrimp factories. We also develop continuous freezing machine, produce sorting machine, and tray washing machine for food factories and supermarkets to reduce the problem with labor shortage. We are the only Thai company to be trusted by foreign processed food companies. Another unit is Ice Making Machine Business Unit. We pioneered the tube ice system in Thailand and we were the first to provide clean and hygienic ice in Thailand. Our system follows international standard. We develop, design, and install ice making machines - tube ice, flake ice, and bagged ice - for nearly 50 years. Our products are sold in five continents in more than 50 countries. Our domestic/international ratio is 40:60%"

He also added, "We have expanded our market and investment sustainably. We invest in machine and people to get ready for AEC. For human resources, we have to train our people for 2-3 years, and it's quite an investment. For machines, we have improved our factory in Kingkaew to be more advanced, as it will be our distribution, installation, service, and training center. The working space is 10,000 sq m. We have installed new machines at Patkol Manufacturing in Phetburi province. In Asean countries, we have set up offices in the Philippines, Indonesia, Malaysia, Vietnam, and Myanmar. We have engineering and business teams, both Thais and locals of each country, to work together. In Cambodia and Laos, the head office is in Thailand. We are very optimistic about the Asean region, because it is home to 700 million people, while there are only 60 million people in Thailand. There is a lot of room for growth. As the market leader with 50 years of experience, and thanks to our world-class technology and products, many of which are patented, we are ready to develop new techniques and machines that work round the clock. Our vision is to be the world number one ice making machines producer and the leader of Asean in food machine engineering and refrigeration technology. In our overseas expansion, we use the successful business model in Thailand, to offer the same standard and expertise. We also acclimatize our approach in each country, and partner up with local businesses. We focus on both services and after sale services, so ensure that our clients receive the same quality as in Thailand. The approach is same quality in a new area. Our team is One Team One Country, so that they are experts in their own niche. In addition to Asean expansion, we also have representative offices in America, Australia, Europe, Japan, Middle East, and Africa. We have businesses in over 50 countries around the world."

Patkol is confident that it is ready to come back to the stock market again on July 28. Even during rehabilitation, its revenue grew steadily. Despite political unrest, protests, and the Great Flood, the company continued to grow. In the first quarter of this year, the company generated 862 million baht in total, a 10% decrease from the same period last year. Its net profit is 16 million baht. As for its financial stability, as of March 31, 2015, its asset is worth 3,085 million baht in total, while its total debts are 1,978 million baht. Its shareholders contribute to 1,001 million baht. Its debt to equity ratio based on Separate?Financial Statements is 1.5 times, while the ratio based on Consolidated Financial Statements is 1.7 times. This reflects the company's financial stability at present.


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