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JWD InfoLogistics PCL (SET:JWD) Announces FY2015 Financial Results
BANGKOK, Mar 02, 2016 - (ACN Newswire) - JWD InfoLogistics PCL, or JWD (SET: JWD), a fully integrated inland logistics service provider, has announced financial results for fiscal year 2015. Total revenue was THB 2,385 million, an increase of 8.1% from the year before, while net profit was THB 333 million, an increase of 132%. The Company will pay dividends for the second half 2015 in stock, at a ratio of 10 existing shares to 7 dividend stocks.
The Company plans to increase revenues in FY2016 by expanding warehouse facilities in neighboring AEC countries as well as building a storage & distribution center for dangerous goods and upgrading an existing facility to a containerized distribution center. Both sites are located within the Port of Laem Chabang free trade zone, and will be fully operational by the end of Q2. Moreover, the Company plans to expand business across ASEAN, targeting medium-range revenue from overseas operations of 25 percent, an increase from the current level of 8 percent.
Dr. Eakapong Tungsrisanguan, CFO of JWD, said that the strong operating profits came mainly from core businesses. Domestic logistics services increased for Dangerous Goods by 9.8 percent and Cold & Frozen Goods by 33.8 percent, specialized logistics increased for Record & Information Management Services by 13.1 percent, while international logistics services increased by 24.9 percent.
The Company also achieved efficient cost management resulting in an increase of its gross profit margin to 36.5 percent from 35.3 percent, while its ratio of sales and administrative expenses to total revenues decreased to 16.6 percent from 17.7 percent. Financial costs decreased as well. After paying debt to financial institutions, the debt to equity ratio decreased to 0.9, and the Company refinanced loans, to improve financial ratios in the future.
Total revenues for Q4 2015 were THB 607 million, nearly unchanged from the previous year. However, net profits of THB 90.4 million showed an increase of 394 percent from the same period a year earlier. This was due to the expansion of domestic on-site services, particularly on customer automotive manufacturing sites, which provided strong margins. Meanwhile, international logistics services, specialized logistics for Record & Information Management Services, and domestic logistics services for Dangerous Goods, also expanded substantially.
At the Board meeting of February 23, it was approved that dividends for the second half of FY2015 could be paid out in stock, not exceeding 420 million shares, with a par value of 0.50 Baht, at a ratio of (existing shares : dividend stocks) 10:7, with a total value of not more than THB 210 million. The Company will close the registry for entitlement to the dividend stock on May 10, 2016, and pay them out on May 23, 2016.
Mr. Charvanin Bunditkitsada, Chairman and CEO of JWD, said that Management's goal this year was increasing operating margins. "The Company will maintain a gross margin of at least 35 percent, which will come from new projects that become operational this year. For example, the improvement to a storage and distribution center for containers with an area of 9,100 square meters, and the construction of a warehouse for dangerous goods with an area of 6,900 square meters. Both of these projects are located at Laem Chabang Port and will be fully operational by the end of the second quarter.
"At the same time, the Company also continues to expand its business in Thailand and ASEAN. We plan to expand our presence in Thailand, Myanmar, Laos, Cambodia, Vietnam, Malaysia and Indonesia through the expansion of warehouse space, and by Merger and Acquisition (M&A). We have THB 500-600 million in hand to invest this year, and are prepared to raise additional funds by placing our assets with Real Estate Investment Trusts (REIT) or by issuing bonds. In addition, we are considering loans from financial institutions of up to THB 3 billion, which will be used to finance further expansion.
"Entering AEC (ASEAN Economic Community) will result in the expansion of the production base across ASEAN and an increase in demand for logistics services in each country, which is a great opportunity for JWD, to expand its business and grow rapidly. We plan that revenue from overseas operations will be increased from 8 percent to 25 percent within five years or the year 2020," concluded Mr. Charvanin.
Contact:MasterMind Communications
for JWD InfoLogistics PCL
Khun Thiyaporn Sriadunphan (Da)
Mobile: +66 87 556 6974
E-mail: thiyaporn.s@mtmultimedia.com
Source: JWD InfoLogistics PCL
Sectors: Daily News
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