บทวิเคราะห์ (Research)

4Q24 net profit was B1.6bn, close to our forecast and market projection, growing 135%qoq while unchanged yoy. 4Q24 normalized profit was B1.5bn, growing 60%qoq but falling 12%yoy. 4Q24 grew qoq thanks to high season. Compared with 4Q23 (yoy), although revenue grew and gross margin increased, tax expense increased.