MFC Asset Management Public Company Limited
Companys Management Discussion and Analysis
This part provides an explanation of the Companys operating results and financial status as follows:
1. Operating results (consolidated)
The table below is the summary of operating results for the second quarter and six mount periods of 2022 and 2021.
Unit: Thousand Baht | |||||||
2nd Quarter | Six-month Periods | ||||||
2022 | 2021 | %Change | 2022 | 2021 | %Change | ||
Fees and service income | 287,588 | 330,018 | (12.86) | 568,702 | 810,280 | (29.81) | |
Interest income | 3,257 | 3,560 | (8.50) | 6,376 | 6,988 | (8.76) | |
Gain and return on financial | 6,655 | 3,916 | 69.92 | 10,152 | 8,939 | 13.57 | |
instruments | |||||||
Other income | 278 | 165 | 68.73 | 624 | 421 | 48.11 | |
Total revenues | 297,778 | 337,659 | (11.81) | 585,853 | 826,628 | (29.13) | |
Employee benefits expenses | 124,280 | 109,264 | 13.74 | 248,932 | 220,676 | 12.80 | |
Fees and service expenses | 53,573 | 84,086 | (36.29) | 102,297 | 318,130 | (67.84) | |
Interest expenses | 960 | 1,521 | (36.89) | 2,063 | 3,159 | (34.68) | |
Other expenses | 31,310 | 28,226 | 10.93 | 61,596 | 56,767 | 8.51 | |
Total expenses | 210,123 | 223,097 | (5.82) | 414,889 | 598,732 | (30.71) | |
Net profit | 71,114 | 92,274 | (22.93) | 138,044 | 183,579 | (24.80) | |
The Companys net profit for the second quarter 2022 was Baht 71.11 million, decrease by Baht
21.16 million or 22.93% when compared with the same quarter of the previous year. The Company8s fees and service income was Baht 287.59 million, decrease by Baht 42.43 million or 12.86% from this quarter last year, while the companys expenses was Baht 210.12 million, decreased by Baht 12.97 million or 5.82% from last year period
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And The Companys net profit for the six month of 2022 of Baht 138.04 million, decrease by Baht
- million or 24.80% from the same period last year. The Company8s fees and service income was Baht
- million, decrease by Baht 241.58 million or 29.81% from this period last year. There were 8 new funds divided into 5 equity fund and 3 fixed income fund with a total net asset value of Baht 2,193 million compared with last year there were 10 new funds divided into 6 equity fund and 4 fixed income fund with a total net asset value of Baht 8,223 million. However the companys expenses decreased by Baht 183.84 million or 30.71% from last year period.
2. Financial Status (Consolidated)
The table summarizes the Companys financial status as follows:
Unit: Thousand Baht | |||
As at 30 Jun 2022 | As at 31 Dec 2021 | % Change | |
Total assets | 1,487,036 | 1,739,625 | (14.52) |
Liabilities and shareholders' equity | |||
Total liabilities | 319,854 | 419,394 | (23.73) |
Shareholders' equity | 1,167,181 | 1,320,231 | (11.59) |
As of 30 June 2022, the total assets were Baht 1,487.04 million, decreased by Baht 252.59 million or 14.52% from the amount as at the end of 2021.The main components of total assets were investments of Baht 979.02 million or 65.84% of total assets, cash and cash equivalents of Baht 186.26 million or 12.53% of total assets, accrued fees and service income from asset management business of Baht 114.60 million or 7.71% of total assets and right-of-use assets of Baht 57.19 million or 3.85% of total assets.
As of 30 June 2022, the total liabilities were Baht 319.85 million, decreased by Baht 99.54 million or 23.73% from the end of last year.
Lastly, the total shareholders equity as of 30 June 2022 was Baht 1,167.18 million, decreased by Baht 153.05 million or 11.59% from the end of last year.
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3. Key Financial Figures (Consolidated)
As at 30 Jun 2022 | As at 31 Dec 2021 | |
Book value (Baht per share) | 9.29 | 10.51 |
Return on total assets (%) | 18.57 | 17.60 |
Return on equity (%) | 23.65 | 23.19 |
Net profit margin (%) | 23.56 | 20.07 |
Signature _______________________
(Mr.Thanachote Rungsitivat)
President