OSP’s 2020 Earnings Jumps 8% to ฿3.5Bn due to Cost Savings through Fit Fast Firm Project

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

OSP posted the FY2020 net profit of THB 3,504 million, an increase of 7.5% YoY with net profit margin of 13.7%. Despite flat growth in revenues, acceleration of Fit Fast Firm projects mitigated its impact and drove profitability.

 

Also, OSP reported 2020 revenue from sales of THB 25,583 million, flat YoY, affected by COVID-19 crisis. Impressive gross margin expanded 35.3%, driven by over-achieved Fit Fast Firm targets. Full commercial run of the new Thilawa factory significantly improved the gross margin of the Myanmar business. 

 

In addition, the Board of Directors passed a resolution to propose to the Annual General meeting of Shareholders the approval of a total 2020 dividend payment of THB 1.1 per share paid from 2020 net profit (interim dividend of THB 0.45 per share and final dividend of THB 0.65 per share), equal to a 94% dividend payout ratio. The Annual General Meeting of Shareholders scheduled to be held on 27 April 2021.