Yuanta

Equity Report

PPAP's 3Q21 review: revenue surges on rising export shipments

In 3Q21, container throughputs reached a record high of 109,124 TEUs, an increase of 27.4% compared to the same period last year. The increase in container throughputs can be attributed to the robust growth in export activities handled at PPAP, with container shipment for export surging 30.3% YoY to 248,044 tons...

30th November 2021

Equity Report

PPWSA's 2020 review: net profit skyrockets to record high

Water subscription increased by 17,712 connections or 4.5% to 407,779 connections at the end of 2020. The number household clients were up 3.7% to 333,099 connections, accounting for 81.7% of total subscriptions, while the number of commercial and industrial clients rose 9.3% to 68,136 connections (16.7% of total)...

12th May 2021

Equity Report

PPAP's 4Q20 review: Revenue decreases for second straight quarter

In 4Q20, container throughputs increased 1.6% YoY to 69,565 TEUs. The positive growth was achieved after a decline of 7.4% YoY in 3Q20 likely as a consequence of COVID-19 impact. Total container shipments reached 520,800 tons between Oct and Dec 2020, up 8.2% compared to the same period in 2019, driven mainly by 13.2% YoY increase in export shipments....

17th February 2021

Equity Report

PPAP's 3Q20 review: Revenue falls for first time since IPO

Container throughputs came to 85,681 TEUs in 3Q20, down 7.4% from 92,494 TEUs in 3Q19. It is the first time since at least 2010 (YSC available data) that PPAP witnessed a YoY decline in container throughput in the third quarter. Both import and export shipments saw a decrease of 11.0% and 10.1% YoY, respectively, with total container shipment volume...

08th February 2021

Equity Report

PPWSA's 3Q20 review: net profit soars 72% QoQ and 25% YoY

Water subscription totaled 405,627 connections at the end of September 2020, up 4.9% YoY. Subscription from commercial & industrial clients posted a double-digit growth of 10.4% from the end of September 2019 to 67,142 connections, representing 16.6% of total connections...

03rd February 2021

Equity Report

PPAP's 1H20 review: Net profit plunges 15.8% YoY

In the first half of 2020, container throughputs continued a solid growth of 12.9% YoY to 135,611 TEUs. However, container shipment volume was up modestly by 3.9% YoY to 976,873 tons. Between January and June, total shipments handled by PPAP amounted to 1,796,641 tons, down 3.7% compared to the same period last year.

15th September 2020

Equity Report

PPWSA's 1H20 review: net profit more than doubles as revenue surges 34% YoY

In 2Q20, total revenue surged 31.1% YoY to KHR75.08bn. Income from construction services more than quadrupled from KHR1.21bn in 2Q19 to KHR5.47bn in 2Q20, representing 7.3% of total revenue. Meanwhile, core water sales, which represented more than 89% of total revenue, soared 27.1% to KHR67.12bn in the second quarter...

08th September 2020

Equity Report

PPWSA's 2019 review: bottom line plunges 56% on declining other income

Total revenue fell 18.9% to KHR215bn in 2019 from KHR265bn in 2018. The decrease in revenue was driven mainly by declining other income, which dropped by KHR33.8bn since in 2018 the company earned KHR32.9bn from the one-time gain on settlement of retirement benefit obligation. Meanwhile, core water sales, which represented more than 90% of total revenue in 2019, were down by KHR11.6bn or 5.6%....

17th July 2020

Equity Report

PPAP's 4Q19 review: Net profit surges 42.7% YoY on strong revenue growth

Pre-tax profit came to KHR15.54bn in 4Q19, an increase of 58.7% YoY. Despite the expired tax incentive, which the listed company had enjoyed for three years from 2016 to 2018, net profit growth remained remarkable at 42.7% YoY. In 2019, PPAP recorded the highest annual net income of KHR47.82bn.

31st March 2020

Equity Report

PPWSA's 3Q19 review: Operating profit surges 57% YoY in 3Q19, 17% YoY in first nine months

Total number of water subscriptions has maintained a steady growth, increasing by 6,391 in 3Q19 to 386,661 at the end of September. Subscription by commercial and industrial clients saw the highest quarterly increase in the last five quarters, rising by 1,000 to 60,804 (15.7% of total). Subscriptions by households reached 319,372 (82.6% of total), or 5,395 more compared to the end of 3Q18...

21st November 2019