MAKRO’s 1Q Earnings Edge Slightly Higher to ฿1.7Bn with an Addition of 5 Stores Worldwide

Siam Makro Public Company Limited (MAKRO) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

MAKRO reported a net profit of 1,733 million baht in 1Q21, increased 3.15% from a net profit of 1,680 million baht in 1Q20. The increase was mainly due to the growth of Makro Thailand and Food Service APME and strong improvement of Makro International.

 

In 1Q21, the company registered consolidated total sales of 54,868 million baht, a marginal drop of 0.5% YoY, due to the impact of COVID-19 pandemic (the first outbreak in March last year and a resurgence during mid-December 2020) on food service operators –a key customer group of the company.

Last year performance also incorporated a sales hike in March 2020 from customers’ panic buying amid concerns over the COVID-19 first outbreak, in addition to the fact that there was one day less in 1Q21compared to the first quarter of the preceding year. With the same number of days, 1Q21 sales would have been greater than that of 1Q20.

When aggregating revenue from rendering of services and other income of totaling 1,229 million baht, the company posted total revenues of 56,097 million baht, declined by 211million baht or 0.4% from the same period of last year.

 

During this period, the number of stores in Thailand grew by 4, and the number of international stores grew by 1. As of the end of 1Q21, MAKRO had a total of 146 stores worldwide.