06 | Aug | 2014

KCE is Red-Hot as Sales and Net Profit Hit Record High for the Fourth Consecutive Quarter

KCE, a large manufacturer and exporter of Printed Circuit Board (PCB) in the South East Asian region, is still hot as the company’s sales and net profit in the second quarter of 2014 hit the record high for the fourth consecutive quarter. The company has just generated 2,818.6 million Baht in sales and 478.9 million Baht in net profit and remains confident that the operating result will continue to be strong in the latter half of the year.

Mr. Bancha Ongkosit, Executive Chairman, KCE Electronics Public Co., Ltd. or KCE, reveals the company’s operating results of the company and its subsidiaries (group) in the second quarter of 2014, stating that the group’s sales reach 2,818.6 million Baht while its net profit is 478.9 million Baht. The figures reflect the growth of 24.6% and 142.5% respectively when compared, on a Year-on-Year basis, to the sales and net profit in the second quarter of 2013, which were 2,261.7 and 197.5 million Baht correspondingly. Nonetheless, these same figures reflect the growth of 1.9% and 9% respectively when compared on a Quarter-on-Quarter basis with the sales and net profit in the first quarter of 2014, which were 2,765.1 and 439.4 million Baht correspondingly.

“Sales and net profit in the second quarter of this year have reached the record high for the fourth consecutive quarter since the full return of operation following the flood of 2011. The year-on-year sale increase of 24.6% is a result of the improved end-market conditions, particularly in the automotive industry and continued growth in the demand for PCB products. The quarter-on-quarter mild growth of 1.9% in Baht terms (2.6% in Dollar terms) is in line with the company’s expectation for a soft quarter due to the summer holiday period in Europe,” Mr. Bancha says.

In addition, the consolidated operating profit in the second quarter of 2014 reaches 444.9 million Baht, or 15.8% of sales, which is primarily attributed to the revenue growth, higher gross margin rate and the decrease of selling, general and administrative expenses.

The average gross margin rate in the second quarter of 2014 decreased slightly to 31.44% of sales from 31.54% of sales in the first quarter of 2014. This is due to the changes in foreign exchange rates. However, when compared to that of the same quarter of last year, this average gross margin reflects a significant rise from 24.9% of sales. The improvement was the result of increased use of production capacity, better production efficiency and the stabilized manufacturing costs.

Mr. Bancha adds that, for the operating results for the first 6 months of 2014 (January-June), the group makes consolidated sales and net profit of 5,583.7 million Baht and 918.3 million Baht respectively while those in the same period of 2013 were 4,261.3 and 469.3 million Baht correspondingly. The basic earnings per share (EPS) for the first half of 2014 increases to 1.76 Baht from 1.02 Baht in the same period of last year. The company’s executive team is highly confident that the operating results will continue to be strong in the latter half of 2014.

For more information, please contact

Public Relations Division, Integrated Communication Co. Ltd., Tel: 023543588, www.incom.co.th
Ms. Usanee Thavornkarn, Tel: 0819845500, Email: Usanee@incom.co.th
Ms. Thanyapat Wasukan, Tel: 0819840845, Email: thanywapat@incom.co.th
Ms. Jeerasuda Chitrakorn, Tel 0816417595, Email: Jeerasuda@incom.co.th