SET-listed companies' total sales rose a whopping 40.10 percent from the same period last year to THB 8.60 trillion (approx. USD 239.62 billion) in the first six months of 2022 mainly due to the ease of COVID-19 measures. However, rising commodity prices had bumped up production costs and consequently eroded profitability.
The Stock Exchange of Thailand (SET) Senior Executive Vice President Manpong Senanarong said that 759 listed companies, constituting 96.7 percent of 785 companies listed on SET and Market for Alternative Investment (mai) (excluding property funds, infrastructure funds, and non-compliance or NC) reported their performance for the first six months of 2022, ending June 30, 2022. A total of 586 listed companies recorded net profits, representing 77.20 percent of the listed companies that submitted their financial statements.
Although production costs accelerated, SET-listed companies managed to deliver a 32.90 percent year-on-year surge in core operating profits to THB 1.08 trillion for the January-to-June period and a 13.90 percent increase in the aggregate net profit to THB 596.59 billion over the same period. However, their core profit margin and net profit margin decreased slightly compared to the same period last year. For financial position as at June 30, 2022, Thai listed companies' debt-to-equity ratio (excluding the Financials industry) edged higher to 1.59 times at the end of June from 1.53 times in the corresponding period a year ago.
| Unit : THB million | 1H/2019 | 1H/2020 | 1H/2021 | 1H/2022 | % YoY |
| Sales | 5,859,703 | 5,209,958 | 6,142,795 | 8,605,952 | 40.1 |
| Core operating profit | 574,375 | 374,714 | 811,052 | 1,078,048 | 32.9 |
| Net profit | 458,120 | 216,436 | 523,783 | 596,594 | 13.9 |
| Core operating profit margin (%) | 9.8 | 7.2 | 13.2 | 12.5 | |
| Net profit margin (%) | 7.8 | 4.2 | 8.5 | 6.9 |
"Significantly, the relaxation of the pandemic control measures since the beginning of the year has restored economic activities, especially in the Food and Fashion sectors, and Services industry group. In addition, the interest rate upward trend accelerated demand in property business, enabling the banking sector to show better operating performance. However, the sharp rise in oil and commodities prices has pressured production costs and operating results of most business sectors. Although entrepreneurs shouldered higher selling and administrative expenses, they managed to keep their revenue ratio steady," added Manpong.
mai-listed companies' top line jumped 23.80 percent from the same period a year before to THB 99.90 billion in the six months through June of 2022, while a 29.20 percent year-on-year increase in costs of sales resulted in a 3.60 percent decline in operating profit. However, their bottom line increased 14.40 percent on year to THB 4.28 billion.