NEX’s Performance Plunges Further after Recording ฿37Mn of Loss in 1Q21

Nex Point Public Company Limited (NEX) has announced its consolidated financial statement through the Stock Exchange of Thailand as follows;

NEX reported a net loss of 37 million baht, increased from a net loss of 20 million baht in 1Q20. The further plummet in performance was mainly due to a decline in its revenue.

Revenue from business operation of the company in 1Q21 was 202.45 million baht, decreased from the same accounting period of the previous year by 66.63% due to a decrease of the electronic products business of 52.48 million baht, and the bus business decreased by 369 million baht due to the transition from diesel to electric vehicles.

 

Meanwhile, the company had selling and administrative expenses in 1Q21 at 88.65 million baht, an increase by 31% compared to the same period of last year mainly due to early termination expense, employee benefit compensation of 1.99 million baht due to business restructuring, and the provision of allowance for doubtful accounts for debtors in the amount of 19.80 million baht due to the impact of the Covid-19 situation.