Executive Summary
Overview: Platt Nera International Limited reported QQ4 2024 revenue of THB 21.31 million, down 85.1% year over year, with a gross margin of 17.5%, but a substantial non-operating charge leading to a net loss of THB 143.64 million. The quarter highlights a severe non-operating expense burden (total other income/expenses net of THB -119.19 million) that dwarfs operating performance. Core operating profitability remains negative, with EBITDA of THB -13.42 million and negative operating income of THB -13.51 million, underscoring a fragile near-term earnings trajectory and a balance-sheet profile that supports limited near-term cash generation.
Key Performance Indicators
QoQ: 0.00% | YoY:-266.72%
QoQ: 0.00% | YoY:-4 206.36%
QoQ: 0.00% | YoY:-3 784.21%
Key Insights
Revenue: THB 21,306,500; QoQ change: 0.00%; YoY change: -85.07%.
Gross profit: THB 3,738,000; Gross margin: 17.54%; YoY gross profit decline: -84.61%.
EBITDA: THB -13,416,500; EBITDA margin: -0.63%; Operating income: THB -13,507,500; Operating margin: -0.63%.
Net income: THB -143,640,500; Net margin: -6.74%; EPS: THB -0.21.
Cash flow: Operating cash flow THB -6,813,000; Free cash flow THB -12,123,500.
Balance sheet (selected): Total assets THB 1,236,986,000; Total liabilities THB 872,609,000; To...
Financial Highlights
Revenue: THB 21,306,500; QoQ change: 0.00%; YoY change: -85.07%.
Gross profit: THB 3,738,000; Gross margin: 17.54%; YoY gross profit decline: -84.61%.
EBITDA: THB -13,416,500; EBITDA margin: -0.63%; Operating income: THB -13,507,500; Operating margin: -0.63%.
Net income: THB -143,640,500; Net margin: -6.74%; EPS: THB -0.21.
Cash flow: Operating cash flow THB -6,813,000; Free cash flow THB -12,123,500.
Balance sheet (selected): Total assets THB 1,236,986,000; Total liabilities THB 872,609,000; Total stockholders’ equity THB 327,551,000.
Liquidity and leverage: Current ratio 1.28; Quick ratio 1.14; Cash and cash equivalents THB 74,747,000; Total debt THB 343,763,000; Net debt THB 269,016,000.
Valuation metrics: P/B 0.64; P/S 9.86; P/E negative; Enterprise value/EBITDA not meaningful given negative EBITDA; Cash conversion cycle -68.23 days; DSO ~1,571 days; Inventory days ~477 days.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
21.31M |
-85.07% |
0.00% |
| Gross Profit |
3.74M |
-84.61% |
0.00% |
| Operating Income |
-13.51M |
-266.72% |
0.00% |
| Net Income |
-143.64M |
-4 206.36% |
0.00% |
| EPS |
-0.21 |
-3 784.21% |
0.00% |
Key Financial Ratios
operatingProfitMargin
-63.4%
Management Commentary
Note: The earnings transcript data for QQ4 2024 were not provided in the materials. Consequently, there are no management quotes or thematic insights to extract from a call transcript for this quarter. The following reflects the absence of a transcript in the source data: No quotes available from management for QQ4 2024; no thematic highlights can be drawn from an earnings call.
Transcript not available.
— N/A
Transcript not available.
— N/A
Forward Guidance
No explicit forward guidance was disclosed in the QQ4 2024 materials. Given the magnitude of the non-operating charge and negative free cash flow, near-term profitability remains uncertain. Investors should monitor: (1) any management commentary on restructuring, cost optimization, or asset impairment reversals; (2) potential normalization of non-operating items (if those charges are one-off or relapsed); (3) working capital discipline to mitigate elevated DSO and inventory levels; (4) any strategic initiatives to scale profitable IT services in the target sectors (banking, government, telecommunications, utilities) in Thailand and adjacent markets.