Revenue and Profitability - Total revenue for the first half of 2019 increased by approximately 20.6% or 31.2 million THB to about 182.4 million THB compared to approximately 151.2 million THB in the first half of 2018[38] - The company's revenue for the six months ended June 30, 2019, was THB 182,416,000, with a gross profit of THB 76,684,000, resulting in a gross margin of approximately 42%[87] - The net profit after tax for the first half of 2019 was approximately 3.7 million THB, a significant decrease of about 91.5% compared to 43.8 million THB in the same period of 2018[49] - Basic earnings per share for the six months ended June 30, 2019, were THB 3,715,000, a decrease from THB 43,791,000 for the same period in 2018[183] - Revenue from IT integration solutions was THB 79,089,000 for the six months ended June 30, 2019, compared to THB 26,149,000 in 2018, indicating a significant increase of 202.5%[158] - Revenue from IT support services was THB 103,327,000 for the six months ended June 30, 2019, down from THB 125,088,000 in 2018, reflecting a decrease of 17.4%[158] Projects and Partnerships - The company has 12 ongoing projects with an unbilled contract value of approximately 288.0 million THB as of June 30, 2019[36] - The ATM project with BAAC has been extended for an additional seven years starting from June 2020, highlighting a strong partnership[36] - The company is preparing to submit bids for a project involving the construction or replacement of 5,030 machines, including 2,900 ATMs and 2,130 CDMs, expected to commence in Q4 2019[37] - The company completed eight projects in collaboration with BAAC, GISTDA, and other clients in the first half of 2019, and secured four new projects with BAAC and other clients[36] Financial Performance - The gross profit for the first half of 2019 decreased by approximately 18.5% to about 76.7 million THB, with a gross margin dropping from 62.2% in the first half of 2018 to 42.0% in 2019[39] - The company's total cost of services provided for the six months ended June 30, 2019, was THB 90,832,000, compared to THB 44,616,000 in 2018, representing an increase of 103.5%[166] - The company’s total employee benefits expenses for the six months ended June 30, 2019, were THB 20,451,000, up from THB 18,007,000 in 2018, indicating an increase of 13.6%[166] Expenses and Liabilities - General and administrative expenses decreased by 12.7% to approximately 20.0 million THB in the first half of 2019, down from about 22.9 million THB in the first half of 2018[44] - The financial costs for the first half of 2019 were approximately 10.1 million THB, compared to 11.2 million THB in the first half of 2018[46] - The income tax expense for the first half of 2019 was approximately 8.9 million THB, a reduction of 23.0% compared to the first half of 2018[47] - The company's total liabilities were THB 454,076,000, resulting in a net asset value of THB 90,502,000[91] Cash Flow and Assets - Operating cash flow for the six months ended June 30, 2019, was THB 52,984,000, an increase from THB 28,660,000 in the prior year[99] - Total assets as of June 30, 2019, amounted to THB 589,778,000, with current assets totaling THB 519,673,000[89] - The company has a cash and cash equivalents balance of THB 1,905,000 as of June 30, 2019[89] - The cash flow from financing activities resulted in a net outflow of THB 133,818,000[102] Corporate Governance - The company has complied with corporate governance codes since its listing on July 16, 2019, except for the separation of the roles of Chairman and CEO[77] - The audit committee, consisting of three independent non-executive directors, reviewed the company's financial reporting procedures and internal controls for the first half of 2019[81] - The company will continue to review its corporate governance policies to ensure compliance with best practices and recent developments[78] Shareholder Information - Major shareholder Pynk Holding Limited owns 300,000,000 shares, representing 75% of the company's equity[64] - Prapan Asvaplungprohm, Wison Archadechopon, and Talomsin collectively control 96%, 2%, and 2% of Pynk's shares respectively[65] - The company reported a total of 300,000,000 shares held by its directors, representing 75% of the equity[67] Compliance and Standards - The company adopted new and revised International Financial Reporting Standards (IFRS) effective January 1, 2019, including IFRS 16 on leases[113] - The initial application of IFRS 16 did not have a financial impact on the company as a lessor[116] - The company has opted for exemptions for low-value assets and short-term leases, not recognizing right-of-use assets and lease liabilities for these categories[127] - The company has established maximum credit limits for each customer to manage credit risk effectively[186]
佰达国际控股(01949) - 2019 - 中期财报