Company Summary
GULF-R GULF ENERGY DEVELOPMENT PUBLIC COMPANY LIMITED
Resources/Energy & Utilities
SET50 / SETCLMV / SETTHSI
CG Report:   
 
  Data as of 03 Dec 2020  
Price (B.) 52 Week High/Low P/E (X) P/BV (X) Paid-up (MB.) Market Cap (MB.) EV (MB.) EBITDA (MB.) EV/EBITDA
35.50 41.03 / 22.34 124.61 7.13 11,733.15 416,526.82 561,213.73 8,184.17 50.55
News
Date/Time Subject
13 Nov 2020 17:49   Financial Performance Quarter 3 (F45) (Reviewed)
13 Nov 2020 17:49   Management Discussion and Analysis Quarter 3 Ending 30 Sep 2020
13 Nov 2020 17:48   Financial Statement Quarter 3/2020 (Reviewed)
06 Oct 2020 22:28   Notification of the establishment of the subsidiary to operate solar energy businesses
06 Oct 2020 22:26   Notification on the progress of investment in ordinary shares in Intouch Holdings Public Company Limited
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Company Profile
Address 87 M Thai Tower 11th floor All Seasons Place, Wireless Road, Lumpini, Pathumwan Bangkok 10330
Telephone 0-2080-4499
Fax 0-2080-4455
URL www.gulf.co.th
  Annual Report 2019
Establish Date 08/2011 Listed Date 06/12/2017
IPO Price (Baht) 45.00 @Par5.00 Baht
IPO Financial Advisory
  • KASIKORN SECURITIES PUBLIC COMPANY LIMITED
  • BUALUANG SECURITIES PUBLIC COMPANY LIMITED
  • THE SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED
  • Par 1.00 Baht
    Last Par Change Old 5.00 : New 1.00 @ 16/04/2020

    Business
    The Company is a holding company with a portfolio of electricity, steam and chilled water generating projects and other related businesses

    Free Float 06 Mar 2020 13 Mar 2019
    % /Shareholders
    26.71% 13,631 26.86% 10,625
    Foreign Shareholders 37.01% (As of 03/12/2020) Foreign Limit 49.00%
    NVDR Shareholders  2.91% (As of 03/12/2020)
    5 Yr Price Performance (Adjusted Price)
    Price Performance (Adjusted Price) Compare to Stock (%) Compare to Sector (%) Compare to Market (%)
    5 Days -3.40 -3.36 -3.72
    20 Days 20.34 -2.17 2.18
    60 Days 11.81 -0.93 1.99
    120 Days -7.93 -10.71 -12.04
    YTD 8.15 19.07 18.79
    P/E (X) 124.61 38.03 28.49
    P/BV (X) 7.13 1.55 1.62
    Turnover Ratio (%) 0.22 0.68 1.24

    Top 10 Major Shareholders(@07 Aug 2020) Share %
    1. นาย สารัชถ์ รัตนาวะดี 3,779,999,970 35.44
    2. UBS AG SINGAPORE BRANCH 1,335,035,010 12.52
    3. GULF CAPITAL HOLDINGS LIMITED 1,051,630,000 9.86
    4. GULF INVESTMENT AND TRADING PTE. LTD. 795,000,010 7.45
    5. บริษัท กัลฟ์ โฮลดิ้ง (ประเทศไทย) จำกัด 500,000,010 4.69
    6. บริษัท Thai NVDR Company Limited 330,976,277 3.10
    7. BANK OF SINGAPORE LIMITED-THB SEG AC 330,515,500 3.10
    8. บริษัท SINO-THAI ENGINEERING & CONSTRUCTION PLC. 200,000,000 1.88
    9. ASIAN DEVELOPMENT BANK 144,000,000 1.35
    10. BANGKOK BANK PUBLIC COMPANY LIMITED 143,674,500 1.35

    Management Position
    1. Mr. VISET CHOOPIBAN CHAIRMAN OF THE BOARD OF DIRECTORS / INDEPENDENT DIRECTOR
    2. Mr. SARATH RATANAVADI CHIEF EXECUTIVE OFFICER / VICE CHAIRMAN
    3. Mrs. PORNTIPA CHINVETKITVANIT PRESIDENT / DIRECTOR
    4. Mr. BOONCHAI THIRATI DIRECTOR
    5. Miss YUPAPIN WANGVIWAT DIRECTOR
    6. Mrs. CHOTIKUL SOOKPIROMKASEM DIRECTOR
    7. Mr. KASEM SNIDVONGS NA AYUDHYA INDEPENDENT DIRECTOR / CHAIRMAN OF THE AUDIT COMMITTEE
    8. Mr. VINIT TANGNOI INDEPENDENT DIRECTOR / AUDIT COMMITTEE
    9. Mr. SANTI BOONPRAKUB INDEPENDENT DIRECTOR
    10. Mrs. RAWEPORN KUHIRUN INDEPENDENT DIRECTOR / AUDIT COMMITTEE
    11. Mr. SOMMAI PHASEE INDEPENDENT DIRECTOR / AUDIT COMMITTEE
    Accumulated: Turnover Ratio, Value Trade/Day
    Statistics YTD
    03 Dec 2020
    2019
    30 Dec 2019
    2018
    28 Dec 2018
    Listed share (M.) 11,733.15  2,133.30  2,133.30 
    Market Cap (MB.) 416,526.82  354,127.80  173,863.95 
    Price (B./share) 35.50  32.82  16.12 
    BVPS (B./Share) 4.98  17.71  16.96 
    P/BV (X) 7.13  9.37  4.80 
    P/E (X) 124.61  78.09  50.30 
    Turnover Ratio (%) 81.77  97.56  100.37 
    Value Trade/Day (MB.) 1,613.13  1,103.96  628.19 
    Beta 1.10  1.44  1.41 
     
    Rate of Return YTD  2019  2018 
    Price Change (%) 8.15  103.68  25.38 
    Dividend Yield (%) 0.67  0.72  0.49 
    Payout Ratio 0.83  0.56  0.25 
    Dividend Policy No less than 30% of the Company?s separate net profit, after deducting tax, legal reserve and other obligations under financing agreements (with additional conditions)

    Dividend
    Operation Period Dividend/Share Unit Payment Date Type
    01 Jan 2019 - 31 Dec 2019 1.30 Baht 28 Apr 2020 Cash
    01 Jan 2018 - 31 Dec 2018 1.20 Baht 21 May 2019 Cash
    01 Jan 2017 - 31 Dec 2017 0.40 Baht 14 May 2018 Cash
     
    Auditor
    (Effective Until 31/12/2020)
    MR. WAIYAWAT KORSAMARNCHAIYAKIJ/KPMG PHOOMCHAI AUDIT LIMITED
    MR. NATTHAPHONG TANTICHATTANON/KPMG PHOOMCHAI AUDIT LIMITED
    MS. SOPHIT PROMPOL/KPMG PHOOMCHAI AUDIT LIMITED
    F/S Year ended 31/12
    Latest Type of Report Unqualified opinion with an emphasis of matters
    Financial Data
    Statement of Financial Position (MB.) 9M/2020 
    (01/01/20 
    -30/09/20) 
    9M/2019 
    (01/01/19 
    -30/09/19) 
    2019 
    (01/01/19 
    -31/12/19) 
    2018 
    (01/01/18 
    -31/12/18) 
    2017 
    (01/01/17 
    -31/12/17) 
    Cash 18,850.88 12,856.10 14,389.80 16,698.46 20,222.17
    A/R Net 6,621.68 5,546.32 5,205.16 3,516.09 1,659.75
    Inventories 247.36 135.21 156.88 49.69 0.85
    Current Assets 30,602.42 22,424.77 22,416.88 25,865.55 24,943.80
    PP&E Net 123,730.57 74,779.91 80,960.73 67,664.24 50,547.13
    Total Assets 221,981.77 130,565.96 134,277.54 123,668.66 100,651.94
    OD 5,000.00 - 68.00 880.00 572.00
    A/P Net 2,272.21 2,236.38 2,324.21 1,680.25 797.01
    Current portion of LT 5,762.95 2,685.91 2,821.24 8,444.28 2,460.25
    Current Liabilities 16,567.77 8,995.94 9,808.95 18,408.29 7,046.96
    Non-Current Liabilities 139,708.78 73,336.86 75,428.65 60,472.12 54,256.73
    Total Liabilities 156,276.55 82,332.81 85,237.60 78,880.41 61,303.69
    Authorized Capital 11,733.15 10,666.50 10,666.50 10,666.50 10,666.50
    Paid-Up Capital 11,733.15 10,666.50 10,666.50 10,666.50 10,666.50
    Premium (Discount) on Share Capital 51,822.14 20,889.30 20,889.30 20,889.30 20,889.30
    Other Surplus (Deficit) 1,173.51 1,173.51 1,173.51 808.43 1,073.33
    Retained Earnings (Deficit) 6,124.45 5,594.59 6,488.09 4,172.72 2,021.55
    Treasury Stock - - - - -
    Shareholders' Equity 58,443.98 37,789.59 38,427.11 36,536.94 34,564.81
    Minority Interest 7,261.24 10,443.57 10,612.84 8,251.30 4,783.44
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    Statement of Comprehensive Income (MB.) 9M/2020 
    (01/01/20 
    -30/09/20) 
    9M/2019 
    (01/01/19 
    -30/09/19) 
    2019 
    (01/01/19 
    -31/12/19) 
    2018 
    (01/01/18 
    -31/12/18) 
    2017 
    (01/01/17 
    -31/12/17) 
    Sales 23,517.68 22,035.82 30,039.67 17,181.12 4,350.44
    Other Income 522.49 1,088.57 1,307.17 432.65 1,191.84
    Total Revenues 25,523.24 25,712.53 34,552.28 20,229.23 9,523.94
    COGs 17,759.36 16,712.79 22,791.05 12,680.75 3,286.25
    SG&A 1,201.56 1,156.96 1,713.10 1,489.59 957.39
    Total Expenses 19,549.62 17,897.27 24,504.15 14,170.35 4,243.63
    EBITDA 8,184.17 9,563.48 12,482.05 7,450.54 5,650.81
    Depre. & Amor. 2,210.55 1,748.21 2,433.92 1,391.66 370.50
    EBIT 5,973.62 7,815.26 10,048.13 6,058.89 5,280.31
    Net Profit 2,437.94 3,981.76 4,886.56 3,028.13 3,451.42
    EPS (B.) 0.23 1.87 2.29 1.42 3.18
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    Statement of Cash Flow (MB.) 9M/2020 
    (01/01/20 
    -30/09/20) 
    9M/2019 
    (01/01/19 
    -30/09/19) 
    2019 
    (01/01/19 
    -31/12/19) 
    2018 
    (01/01/18 
    -31/12/18) 
    2017 
    (01/01/17 
    -31/12/17) 
    Operating Cash Flow 6,652.19 5,254.30 8,048.44 2,401.68 -716.65
    Investing Cash Flow -53,580.83 -11,784.75 -12,572.65 -16,143.82 -16,426.20
    Financing Cash Flow 51,388.33 2,692.26 2,220.54 10,218.25 34,601.49
    Net Cash Flow 4,459.69 -3,838.19 -2,303.67 -3,523.89 17,458.65
    more
    Annualized: ROE, ROA
    Ratios 9M/2020  9M/2019  2019  2018 
    Current Ratio (X) 1.85 2.49 2.29 1.41
    ROE (%) 6.95 12.26 13.04 8.52
    ROA (%) 4.66 7.82 7.79 5.40
    D/E (X) 2.67 2.18 2.22 2.16
    Total Asset Turnover (X) 0.19 0.26 0.27 0.18
    Gross Profit Margin (%) 24.49 24.16 24.13 26.19
    EBIT Margin (%) 23.40 30.39 29.08 29.95
    Net Profit Margin (%) 9.55 15.49 14.14 14.97

    Information only PP, PO, XR and XD
    Capital Movement (Last 3 Year)
    Date CA Type Changed paid up share Paid up share Par
    18 Sep 2020 XR 1,066,649,998 11,733,149,998 1.00

    Growth Rate (%) 9M/2020  9M/2019  2019  2018 
    Sales Growth 6.72 84.97 74.84 294.93
    COGs Growth 6.26 88.86 79.73 285.87
    Total Revenue Growth -0.74 78.10 70.80 112.40
    Total Expense Growth 9.23 81.13 72.93 233.92
    Net Profit Growth -38.77 60.89 61.37 -12.26

    Annualized
    Cash Cycle 9M/2020  9M/2019  2019  2018 
    A/R Turnover (Times) 5.18 6.37 6.89 6.64
    Avg. Collection Period (Days) 70.45 57.34 52.98 54.98
    Inventory Turnover (Times) 124.62 241.57 220.66 501.78
    Avg. Inventory Period (Days) 2.93 1.51 1.65 0.73
    A/P Turnover (Times) 10.57 11.23 11.38 10.24
    Avg. Payment Period (Days) 34.52 32.50 32.07 35.65
    Cash Cycle (Days) 38.86 26.35 22.57 20.05


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    Other Securities
    Securities Name -

    Remark - Calculated from adjusted price
      - Presented and calculated from the consolidated statement and displayed as cumulative quarterly statement by fiscal year (Company statement will be presented and calculated incase consolidated statement is not available.)
      - The information is quarterly updated within 7 business days after the new financial statement is submitted.
      -
     
    Information on the financial statements is presented according to the information that the listed companies submit on that period. The investors should study additional information from the companies' financial statements since some companies may restate the comparing financial statements on the latest financial statements.
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