Baht Appreciation Hits Hard on KCE, Plunging 2019 Profit by 53% to ฿934mn

KCE Electronics Public Company Limited (KCE) has reported its yearly consolidated financial statement of 2019 through the Stock Exchange of Thailand as follows;

KCE reported a net profit of 934 million baht in 2019, decreased 53.62% when compared to a net profit of 2,014 million baht in 2018. The decrease was mainly due to a decrease in sales revenue, an increase in the cost of goods sold, a reduction in gross margin, as well as an appreciation of the THB.

Consolidated sales revenue in Baht terms declined from 13,982.5 million baht in 2018 to 12,097.4 million baht in 2019, representing a reduction of 13.5% YoY, while sales revenue in USD terms declined by 9.8% YoY to 393.0 million dollars.