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ASC 100: Thailand's Fine Metal sees 2Q21 revenue soar 127%
Alex Chen, Taipei; Yusin Hu, DIGITIMES 0

Credit: DIGITIMES

Established in Bangkok in 1988, Fine Metal Technologies was formerly known as Furukawa Metal (Thailand) and went public in Thailand in 1996. Fine Metal Technologies produces and sells copper tubes used in refrigerators, freezers, and air conditioners.

The company generated THB1.82 billion (US$548.37 million) in revenue in the second quarter in 2021, logging a record increase of 127.3% on year. For the first two quarters this year, Fine Metal posted THB3.56 billion in revenue, increasing by 52.3% on year. For a few years in a row, the first quarter accounted for nearly 30% of the year's total revenue. In 2020, the company generated a total of THB4.8 billion for the year, down by 20.8% from 2019.

Fine Metal Technologies: Financial results, 3Q20-2Q21 (US$10k)

2Q21

1Q21

4Q20

3Q20

Revenue

5,472.28

5,241.87

3,979.61

3,449.39

Gross profit (loss)

26.75

224.07

230.49

205.52

Operating profit (loss)

8.46

258.58

232.41

3.01

After-tax net profit (loss)

47.26

254.7

132.21

31.66

Source: Reuters, compiled by DIGITIMES, September 2021