STARK’s 2020 Net Profit Soars 11 Folds to ฿1.6Bn after Booking a Higher Revenue

Stark Corporation Public Company Limited (STARK) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

STARK’s net profit in 2020 was 1,609 million baht, an increase from 124 million baht in 2019 equals to +1,198.1% and net profit margin was 9.5%, an increase from 1.1% in 2019. A significant increase in net profit was from the investment in Vietnam since April 1, 2020 affected core revenues equal to 16,858 million baht in 2020 or 46.2% from 11,529 million baht in 2019, together with a focus on High margin product, especially Medium to Extra High Voltage cables to support high growth in various of government and private projects.

 

STARK had a core EBITDA of 2,725 million baht in 2020, increasing 26.3% and %Core EBITDA margin in 2020 equal to 15.1%, an increase from 9.1% from the same period last year, mainly due to the strategies to focus on the high margin products. Moreover, the company has implemented a plan to reduce cost and expense (Lean management) continuously.