บทวิเคราะห์ (Research)

STANLY : Earnings result - GPM expansion is key STANLY’s core profit fell to Bt373m (-18% yoy, -35% qoq) in 3QFY25 (Oct-Dec 2024) as car production was weak in Thailand, falling 27% yoy in Oct-Nov. 9MFY25 profit is 74% of our full-year forecast of Bt1.7b (-2% yoy), which is the smallest projected yoy drop in the sector. STANLY needs to deliver better GPM to support core profit given the weak industry outlook. Maintain NEUTRAL call and Bt200 TP.