บทวิเคราะห์ (Research)

While AU’s 4Q24F net profit is expected to show strong growth of 72% YoY, we expect a slight drop QoQ to Bt81mn due mainly to a 13% QoQ drop in dessert café revenues because of flooding, especially in the southern region. However, dramatic growth in non-café sales should help earnings remain solid. The company’s capacity expansion should unlock limits on non-café production and continue to support earnings growing to another record high in 2025F at Bt342mn. We expect AU’s profit to return to YoY and QoQ growth in 1Q25F.