บทวิเคราะห์ (Research)

CKP : Earnings result - 3Q24: A mixed bag with a silver lining CKP booked Bt1.2b net profit for 3Q24, missing expectations due to smaller-than-expected equity income and NCI. Excluding FX loss, core profit grew 22% yoy and 18x qoq to Bt1.24b. We cut FY24F net profit after adjusting for smaller equity income and actual FX loss for 9M24. But we are keeping FY25F/26F earnings. Despite near-term headwinds, CKP is projected to deliver strong earnings growth next year driven by La Niña and recovering operations at XPCL. Maintain BUY rating and Bt5.2 TP.