Financial Performance - The group's revenue for the fiscal year ending December 31, 2023, was approximately 484.8 million THB, an increase of about 79.8% or 215.2 million THB compared to 269.6 million THB for the fiscal year ending December 31, 2022[3]. - The group recorded a profit of approximately 7.9 million THB for the fiscal year 2023, recovering from a net loss of approximately 84.0 million THB in the previous year[3]. - Gross profit for the fiscal year 2023 was 88.9 million THB, compared to a gross loss of 35.2 million THB in the fiscal year 2022[5]. - The group reported a pre-tax profit of 10.7 million THB for the fiscal year 2023, a significant improvement from a pre-tax loss of 108.4 million THB in the previous year[5]. - The earnings per share for the fiscal year 2023 was 1.56 THB, compared to a loss per share of 18.00 THB in the fiscal year 2022[5]. - The group reported a pre-tax loss of 32,431 thousand Thai Baht for the year 2023, compared to a loss of 34,328 thousand Thai Baht in 2022, indicating a decrease in losses by approximately 5.5%[57]. - The total employee benefits expenses amounted to 47,617 thousand Thai Baht in 2023, down from 50,325 thousand Thai Baht in 2022, reflecting a reduction of about 5.4%[57]. - The company did not declare or recommend any dividends for the year ending December 31, 2023, consistent with the previous year[59]. Assets and Liabilities - Total assets as of December 31, 2023, amounted to 699.9 billion Thai Baht, compared to 846.9 billion Thai Baht in 2022, reflecting a decrease of approximately 17.4%[7]. - Current assets totaled 934.4 billion Thai Baht, an increase from 833.4 billion Thai Baht in the previous year, representing a growth of about 12.1%[7]. - Total liabilities reached 682.3 billion Thai Baht, slightly up from 679.3 billion Thai Baht in 2022, indicating a marginal increase of 0.4%[7]. - The company reported a total equity of 951.9 billion Thai Baht, down from 1,001.0 billion Thai Baht in 2022, which is a decrease of approximately 4.9%[7]. - The company's non-current liabilities decreased to 474,449 thousand Thai Baht in 2023 from 614,844 thousand Thai Baht in 2022, indicating a reduction of about 22.8%[8]. - The company's total assets increased to 477,489 thousand Thai Baht in 2023 from 386,178 thousand Thai Baht in 2022, representing a growth of approximately 23.6%[8]. - The total liabilities to equity ratio was approximately 0.72, indicating a stable leverage position compared to the previous year[7]. Cash Flow and Financing - The company has taken measures to alleviate cash flow pressure and improve financial conditions, including cash flow forecasting for at least the next 12 months[17]. - The board of directors believes that the group will have sufficient working capital to meet its financial obligations due within the next 12 months[17]. - The company completed a rights issue, raising approximately HKD 19 million (about THB 83 million) as of December 31, 2023[19]. - The group is actively seeking additional financing sources, including debt or equity financing, to improve capital structure and reduce overall financing costs[19]. - The company believes it will successfully obtain additional bank financing, supported by long-term relationships with banks and collateral from its projects[19]. - The company's cash and cash equivalents were reported at 12.6 billion Thai Baht, down from 26.3 billion Thai Baht in 2022, indicating a decrease of approximately 52.1%[7]. - The company's cash and cash equivalents are approximately 13 million Thai Baht, indicating significant liquidity concerns[124]. Revenue Recognition and Contracts - The group recognizes revenue based on the timing of transfer of goods and services, with THB 159,324,000 recognized at a point in time and THB 325,438,000 recognized over time in 2023[35]. - The total contract assets amounted to 1,091,339 thousand Thai Baht, an increase from 823,952 thousand Thai Baht in 2022, representing a growth of approximately 32.5%[38]. - The company anticipates that the majority of contract liabilities will be recognized as revenue within the next year, indicating a strong revenue recognition outlook[44]. - Revenue from IT integration solutions is recognized when the service is fully completed, either at a specific point in time or over time based on the input method[50]. - Revenue from IT support services is recognized over the service contract period, typically in line with the progress of service delivery[51]. - The company utilizes expected value methods to estimate variable consideration in contracts, ensuring accurate revenue recognition[47]. Corporate Governance and Compliance - The company has maintained high standards of corporate governance to protect shareholder interests and enhance corporate value[111]. - The company has adopted the corporate governance principles and rules as per the listing rules, ensuring compliance with applicable regulations[112]. - The company has established an audit committee responsible for reviewing and supervising financial reporting procedures and internal controls[117]. - The independent auditor has reviewed the consolidated financial statements and confirmed their accuracy for the year ending December 31, 2023[121]. Market and Economic Outlook - The Thai economy is projected to grow by 1.8% in 2023 and 2.8% in 2024, which may positively impact the company's business environment[83]. - The company plans to continue pursuing new projects to drive growth and is optimistic about its long-term prospects[83]. - The company is closely monitoring geopolitical risks and market fluctuations that could affect its operations[83].
佰达国际控股(01949) - 2023 - 年度业绩