SABINA Reports a Profit of ฿276Mn in 2020 as Online Sales Soars 65% amid Covid Outbreak

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

In 2020, SABINA reported a net profit of 276 million baht, decreased 33.02% from a net profit of 413 million baht in 2019.

In 2020, the total revenue was 2,913.8 million baht, decreased 11.6% from 2019. The revenue from sales and service was 2,898 million baht, decreased 11.6% from 2019.

 

SABINA stated that retailer sales impacted by the COVID-19 epidemic caused the lockdown of the store from the end of March until the middle of May therefore able to open the shop again. Spreading a new wave of COVID-19 that occurred at the end of December in Samut Sakhon Province causing a slowdown in business.

Non-store retailing, the company increased sales and expanded more distribution channels. In 2020, the sales of NSR to 554.4 million baht, more than the year 2019 to 218.9 million baht, or 65.2%.

In 2020, selling and administrative expenses amount to 1,034.1 million baht or 35.5% of total income, which is decreased 242.3 million baht or 19.0% from year 2019. This is due to the lower expenses such as advertising and marketing, which has been shifted to Online more cost-effective and reach more specific customers.

Reduced promotional expenses due to the COVID-19 situation making it impossible to organize various items or less organized in order to comply with government protection measures, rental and service expenses stores that the company receives a discount on such expenses during the lockdown of stores according to government measures, reduced human costs the result of some employees resigned to self-employed or return to their own settlements voluntary in which the company did not hire out or have any measures for early retirement.