Mr. Songsak Piyawannarat Deputy Chief Executive Officer Siam Technical Concrete or STECH Manufacturer and distributor of pre-stressed concrete products and provide construction services related to the Company’s core business. Assessing the trend of earnings in the second quarter of 2022 is expected to grow continuously from the first quarter. The result of the overall construction industry that has accelerated recovery after the easing of the Covid situation. together with the measures to open the country from the government and investment policy This positively affects the overall economy and the construction industry is back to bustling.
while the private sector is confident Gradually launching new projects has increased the demand for prestressed concrete products and services. Support the overall business of the company In the first half of this year, it grew at a good level.
It is believed that the growth trend in the second half of the year is still an opportunity for Both from government works that have begun to move forward, such as high-speed rail works connecting 3 airports and dam work to prevent floods, including construction of new factories. and various superstores such as Do Home, Thai Watsadu, etc.
STECH continues to participate in bidding for new projects while focusing on cost management. and manage internal expenses efficiently To support the operating results to grow over the past year Therefore, we are confident that our revenue this year will grow as planned at least 30% from the previous year.
“Overall in the first half of the year, revenue recognition and revenue growth was quite high. with revenues growing more than the target set came from the company Received piling work for a private factory which is a large project and government projects including the real estate sector that has started to build more In addition, the company Start recognizing revenue from the 2nd Chonburi factory since the second quarter of this year.” Mr. Songsak said
Currently, STECH has a backlog pending revenue recognition (Backlog) at 1,475 million baht, almost all of which will gradually recognize revenue in 2022 due to the Covid situation that has begun to unravel and see a positive sign in conjunction with the factory. of the company can continue to produce products and gradually deliver as planned. However, the company is still in the process of pursuing another new project worth approximately 1,490 million baht, which includes both public and private projects. reflecting the overview of large-scale projects starting to move forward especially government mega projects
Currently, STECH has 10 prestressed concrete plants, from last year there were 9, covering almost all over the country. The factory increased by 1 this year, in Chonburi Province, Branch 2, to get jobs in the Eastern region. Support opportunities for expansion With low transportation costs and at present, the average production capacity is around 65-70%. in construction The company therefore believes that it will benefit from more mega projects that the government has started to gradually come out this year. with sufficient production capacity ready for future expansion