With the increased gross profit and net profit margins, BTG is prepared to pay dividends of 1 baht per share.
The robust financial performance in 2022 was a result of the across-the-board growths shown in BTG's core business groups including the agri-business, food and protein business, international business and pet business. BTG has moved into 2023 with an eye for sustainable growth.
Mr. Vasit Taepaisitphongse, Chief Executive Officer and President of BTG, calls 2022 a successful year for Betagro buoyed by its 'World-Class Branded Food Company' strategy. The success is due to the outstanding growth achieved by the firm with total revenue rising by 31.3% from the previous year to 113,877 million baht, net profit soaring 685.5% to 7,938 million baht, representing a net profit margin of 7%, up from 1.2% in 2021. For the fourth quarter of 2022, BTG's revenue was up by 25.5% from the same quarter of 2021 to 30,052 million baht, thus hiking up net profit by 3.8% over the same period to 1,796 million baht.
The success is due to the outstanding growth in sales of goods and services in all four main business lines, he pointed out with the following elaboration. The agri-business recorded higher revenue because of increased product prices. The food and protein business saw revenue rising, spurred by higher sales volumes and product prices especially for pork, chicken, eggs, processed food and processed meat products in the domestic and export markets. The international business' growth was driven by the increase in the selling price of animal feed and live animals in Cambodia and Laos where the markets have continued to expand. The pet business also improved in terms of sales volumes and selling price of pet food, a result of BTG's strategy that put greater emphasis on products that offer high profit margins.
The company is prepared to place the XD ticker symbol, meaning its stock is without dividend on 14 March with actual dividend payment at 1 bath a share due on 19 May. Also contributing to higher profit was more effective cost control and benefits from the economy of scale. The earnings before interest, taxes, depreciation and amortisation (EBITDA) in 2022 were at 14,516 million baht, up by 155.1% from 5,690 million baht in 2021. The EBITDA rate in 2022 was 12.7%, an increase from 6.6% in 2021, propelled by an increase in gross profit and profit margins of the food and protein business, price adjustments of pork, chicken, eggs, processed food and processed meat, as well as the effective management of sale and administrative expenses. The company has realised benefits of the economy of scale deriving from higher sale volumes.
Meanwhile, Mr. Vasit noted that BTG has been selected as a stock in the Morgan Stanley Capital International (MSCI) index with BTG shares forming part of the calculation of the latest round of MSCI Global Small Cap Index after being listed on the Stock Exchange of Thailand at the end of last year. That development underscores a strong fundamental of BTG shares as the company has moved strenuously into 2023 under the 'World-Class Branded Food Company' status to create strong growth both at home and abroad.
Source: MT Multimedia
