NER Earns ฿1.25Bn in First 9 Months of 2021 on Robust Sales

Northeast Rubber Public Company Limited (NER) has announced its 3Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

NER earned a net profit of 440 million baht in 3Q21, up 189% from the same period last year, and a net profit of 1,245 million baht for the first for 9 months ended September 30, 2021, up 185% from the same period of last year, as a result of sales volume of 18,405.71 million baht, up 8,422.16 million baht or 84.36% year on year. Domestic sales totaled 11,741.08 million baht, or 63.79% of total sales, an increase of 5,692.8 million baht or 94.12% year on year, and export sales totaled 6,664.63 million baht, or 36.21% of total sales, an increase of 2,729.30 million baht or 69.35% year on year. This was due to  the increased production volume of the STR factory project 2. In addition, the average selling price in 3Q21 was higher than 3Q20.

In 3Q21, the company’s cost of sales was 16,038.55 million baht or 87.14% of total sales revenue. which is in accordance with the proportion of sales Divided into cost of sales of para rubber equal to 15,933.41 million baht or equivalent to 86.57%. Cost of sales under the Biogas project is 105.14 million baht or equivalent to a percentage 0.57 of total sales.

Loss on exchange rate 200.98 million baht or representing 1.09% of total sales. When compared to the same period last year, which amounts to 97.22 million baht or 0.97% of total sales increased by 103.76 million baht or 106.73%. From debt repayment from foreign trade receivables and repayment of promissory notes (P / C). According to the exchange rate from the foreign currency forward contract with financial institutions.