HARN announced Business Performance, Quarter 4/2017

14 March 2018

HARN announced Business Performance of 2017 where profit raised up to 219%; stock dividend was paid at 0.14 Baht per share; increased investment budget of 120 million Baht in order to accelerate human resources and build new warehouse which will reduce cost and increase profit. In 2018, sales is forecasted at 1,423.5 million Baht.

Mr. Wirat Sukchai, Chief Executive Officer, Mr. Thammanoon Tripetchr, Managing Director : Digital Printing System and Mr. Wisit Wachiralappaitoon, Finance Director at Harn Engineering Solutions Public Company Limited announced business performance and business direction on 14 March 2018 at Meeting Room 603, Stock Exchange of Thailand.

Business Performance of 2017: The company had a total income of 1,300.70 million Baht, net profit of 129.68 million Baht as of 31 December 2017 from four main business units. The company’s income were from Fire Prevention System and Installation at 44.56%, followed by Cooling System at 24.03%, Digital Printing at 23.66%, and 6.63% were from Air Conditioning and Sanitary, and others at 1.12%

Currently, the company has Backlog of 380 million Baht and under negotiation process around 60 – 70 million Baht. It is expected to receive most of the income within this year. The appreciation of Baht will help the company grow. In the meanwhile, the company is acquiring other businesses in order to expand. The company had cash on hand around 240 million Baht and Debt/Equity ratio was at 0.20 which means the company had a great ability to loan in order to expand.

Investment in Thailand’s Eastern Economic Corridor for sky train and government airports is a chance to sell the company products and services. The development of business to neighbour countries such as Cambodia, Myanmar and Laos for example. There is a high chance to establish offices in these countries.

In 2018, the company set investment capital at 97 million baht for the new warehouse in order to reduce cost and increase profit. The company will recruit talents especially for 3D printing in medical and biology. The solutions are to create organ models for research and plan for effective medical treatment. It will be able to reduce an operating time by 93% and shorten the operation procedures for 3 to 4 hours. This way, it is cost effective and optimum resources needed for the operation. It will be such a revolutionary to Thai medical that adapt high technology effectively.