Situation Overview — FY 2025 Consolidated
Click cards to drill throughTotal Revenue
Gross Profit
Gross Margin
Net Income
Net Margin
EBITDA
Diagnostic Analysis — Why Is This Happening?
Click charts to cross-filterRevenue & Net Income Trend (with YoY%)
Revenue declined in Q2-Q3 but recovered Q4. Net income gap widened due to FX losses and rising SG&A.
- Revenue CY
- Revenue PY
- Net Income CY
- Revenue YoY%
P&L Waterfall — Where Revenue Goes
COGS consumes 75.3% of revenue. FX loss of 66M THB is the 3rd largest cost bucket.
Revenue Bridge — YoY Decomposition
Volume decline (-47.6M) and lost customers (-42.4M) are primary drags. Price erosion adds -25.5M.
Gross Margin Pressure (MoM Trend)
GPM compressed from 25.1% to 24.7% YoY. COGS % of revenue rose above industry benchmark of 73%.
- GPM CY
- GPM PY
Revenue (THB M) vs Volume (K Tons) — Monthly
Volume dropped -7.3% YoY while revenue fell -6.7% — ASP held relatively stable. Volume is the primary revenue driver.
- Revenue CY (M)
- Revenue PY (M)
- Volume CY (KT)
- Volume PY (KT)
Average Selling Price (THB/Ton) — CY vs PY
ASP averaged 2,258 THB/Ton CY vs 2,224 PY (+1.5%). Price held firm despite volume decline — pricing power intact.
- ASP CY
- ASP PY
- ASP YoY%
Monthly Revenue Decomposition — Volume vs Price Effect
Volume effect dominates: Apr-Jun volume loss drove -33M THB. Price effect was mixed but smaller magnitude.
- Volume Effect (M)
- Price Effect (M)
Product Revenue vs Volume vs ASP
COAL-G: highest revenue but ASP declining. HL Trading: volume & ASP both growing — strongest product.
- Revenue (M)
- Volume (KT)
- ASP (THB/Ton)
Operating Leverage — SG&A vs Revenue Growth
NEGATIVE operating leverage: SG&A grew +8.5% while revenue declined -6.7%. SG&A ratio deteriorated from 9.1% to 10.6%.
- Revenue Growth %
- SG&A Growth %
- SG&A % of Rev
Other Income / (Expense) — FX Distortion
FX loss of 65.8M THB (vs 15.2M PY) distorts profitability. Excluding FX, other income grew +30.6%.
- FY 2025
- FY 2024
Revenue Volume vs Gross Margin — Monthly
Higher revenue months correlate with higher GPM — scale economies exist. CY GPM consistently below PY.
- Revenue (M)
- GPM CY %
- GPM PY %
Entity Revenue Contribution
Click entity bar to filter | YoY% overlay
- Revenue (M)
- YoY %
P&L Statement Detail
Expand rows to drill down 4 levels | Toggle Absolute / % of TotalStatement of Comprehensive Income — FY 2025
| Account | Q1 | Q2 | Q3 | Q4 | QoQ % | YTD 2025 | YTD 2024 | QoQ % | % Rev | ⤴ |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 415K | 380K | 395K | 397K | +0.4% | 1.6M | 1.7M | -4.4% | 100.0% | |
| COGS | -312K | -290K | -298K | -295K | +0.9% | -1.2M | -1.3M | +6.2% | 75.3% | |
| Gross Profit | 103K | 90K | 97K | 101K | +4.4% | 391K | 386K | +1.4% | 24.7% | |
| Selling Expenses | -21K | -22K | -23K | -24K | -2.3% | -89K | -80K | -12.3% | 5.6% | |
| Admin Expenses | -19K | -19K | -20K | -20K | -1.7% | -79K | -75K | -5.1% | 5.0% | |
| Operating Profit | 63K | 49K | 54K | 57K | +6.4% | 223K | 232K | -3.5% | 14.1% | |
| Other Income/(Expense) | 28K | 25K | 26K | 25K | -6.3% | 103K | 79K | +30.6% | 6.5% | |
| FX Gain/(Loss) | -15K | -18K | -16K | -18K | -12.8% | -66K | -15K | -332.9% | 4.1% | |
| Profit Before Tax | 77K | 56K | 64K | 64K | -0.4% | 261K | 295K | -11.7% | 16.4% | |
| Tax | -14K | -12K | -13K | -13K | -4.5% | -52K | -90K | +41.8% | 3.3% | |
| Net Income | 63K | 44K | 52K | 51K | -1.6% | 209K | 206K | +1.5% | 13.2% |
Absolute values (THB). Click ▸ to expand sub-items. Click ⤴ to drill through to detail. Time level: Quarterly (QoQ%)