AEONTS Reports 29% Earnings Growth in 6M21, Offering Bt2.50 Dividend Payment

Aeon Thana Sinsap (Thailand) Public Company Limited (AEONTS) has reported its FY2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

For the second quarter of 2021, net profit of the parent was 647 million baht decreased by 30% YoY which was resulted from higher provision in August 2021 with probable forward looking risk factors due to COVID-19 and lock down business. Net profit was mainly contributed by  continued growth of bad debt recovery and efficiently controlling the operation cost and funding cost.

For the first half of 2021, consolidated operating income was reported at 2,351 million baht, an increase of 528 million baht or 29% YoY. The company recorded net profit of 1,828 million baht, an increase of 331 million baht or 22% YoY, and earning per share was 7.31 baht.

 

As of August 31, 2021, the company’s total cards reached 9.29 million cards, including 3.01 million credit cards, and 6.28 million member cards. The company has active customers more than 2 million IDs, mainly from Bangkok 31%, and in up-country 69%.

Covering networks nationwide, the company has 100 branches, 404 ATMs, and 6,272 member dealers to provide quality financial services to AEON cardholders. For overseas business in Cambodia, Myanmar and Laos, they have active customers more than 133,535 representing 5% of total company customers.

 

In the first half year of 2021, credit card sales accounted for 65% of total turnovers with revenue of 3,144 million baht, a decrease of 215 million baht or 6% YoY. In the second quarter of 2021, credit card revenue was 1,594 million baht, a decrease of 27 million baht or 2% YoY but increased by 3% q-q, mainly resulted from a reduction in interest rate for credit card by 2%, which effective in 1st August 2020 and decreasing of credit card spending due to the impact of the COVID-19 pandemic. However, credit card revenue was 30% of total revenues. For overseas business, AEON Specialized Bank (Cambodia) Plc had credit card revenue in the second quarter of 2021 of 56 million baht, grew by 12% YoY.

 

In addition, AEONTS’ Board of Directors resolved to the resolution of offering Bt2.50 per share of cash dividend on November 2, 2021. The ex-dividend date is October 18, 2021.