บทวิเคราะห์ (Research)

TKN : Earnings Result - Hurt by higher seaweed prices TKN booked THB134m net profit for 3Q24 (-37% yoy, -50% qoq), 34% below Bloomberg consensus estimate. The disappointing profit is attributed to 50% jump in seaweed cost qoq, which reduced gross margin by 6.2 ppt qoq to 30.1%. 9M24 profit is 87% of FY24F earnings. We maintain a NEUTRAL rating and THB10.30 TP for TKN but will review our projections following the analyst briefing.