Executive Summary
Platt Nera International Limited reported a materially weaker QQ1 2025 than the prior year, characterized by a steep revenue decline, erosion of gross margins, and a pronounced operating loss. Revenue for the quarter reached THB 15.20 million, down 54.3% year-over-year and 28.7% quarter-over-quarter, while gross profit was THB 2.38 million and gross margin stood at 15.7%. The company incurred substantial fixed costs, with selling, general, and administrative expenses totaling THB 25.99 million, driving EBITDA to a negative THB 22.66 million and a net loss of THB 22.87 million. The resulting EBITDA, operating, and net margins of approximately -149%, -155%, and -150% respectively reflect a business in a high burn and low topline phase.
Key Performance Indicators
QoQ: -28.66% | YoY:-54.26%
QoQ: -36.29% | YoY:-71.17%
QoQ: -74.78% | YoY:-361.02%
QoQ: 84.08% | YoY:-3 907.83%
QoQ: 85.29% | YoY:-3 190.00%
Key Insights
Revenue analysis: THB 15.20 million in QQ1 2025, YoY -54.26%, QoQ -28.66%. Gross Profit: THB 2.38 million; Gross Margin 15.67% (YoY -71.17%; QoQ -36.29%). Operating Expenses: THB 25.99 million (SG&A THB 25.19 million within total operating expenses of THB 25.99 million). EBITDA: THB -22.66 million; EBITDA Margin: -1.49x (i.e., -149%). Operating Income: THB -23.61 million; Operating Margin: -155.33%. Net Income: THB -22.87 million; Net Margin: -150.44%. Earnings per Share (EPS): THB -0.0309; ...
Financial Highlights
Revenue analysis: THB 15.20 million in QQ1 2025, YoY -54.26%, QoQ -28.66%. Gross Profit: THB 2.38 million; Gross Margin 15.67% (YoY -71.17%; QoQ -36.29%). Operating Expenses: THB 25.99 million (SG&A THB 25.19 million within total operating expenses of THB 25.99 million). EBITDA: THB -22.66 million; EBITDA Margin: -1.49x (i.e., -149%). Operating Income: THB -23.61 million; Operating Margin: -155.33%. Net Income: THB -22.87 million; Net Margin: -150.44%. Earnings per Share (EPS): THB -0.0309; Weighted Avg Shares: 740 million. Strong YoY deterioration across core metrics driven by a smaller revenue base and sustained fixed cost structure. Four-quarter trend shows a sharp swing from Q4 2024 revenue THB 21.31 million to Q1 2025 THB 15.20 million, with net income deteriorating from a non-cash or unusual item in prior periods to a clear quarterly loss.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
15.20M |
-54.26% |
-28.66% |
| Gross Profit |
2.38M |
-71.17% |
-36.29% |
| Operating Income |
-23.61M |
-361.02% |
-74.78% |
| Net Income |
-22.87M |
-3 907.83% |
84.08% |
| EPS |
-0.03 |
-3 190.00% |
85.29% |
Management Commentary
Note: No QQ1 2025 earnings call transcript was provided in the data. Therefore, management-specific insights and quotes could not be extracted for Themes or context. Investors should reference the official HKEx release for any management commentary and forward-looking statements.
Forward Guidance
No formal forward guidance was disclosed in the QQ1 2025 release. In absence of explicit targets, the near-term investment thesis hinges on: (1) stabilizing or modestly increasing revenue from core IT services in banking, government, telecom, and utilities segments; (2) achieving gross margin improvement through product mix, pricing, or efficiency gains; (3) reducing fixed costs or re-allocating operating expenses to restore EBITDA scale. Investors should monitor quarterly revenue trajectory, gross margin progression, SG&A as a percentage of revenue, and any disclosures on contracts, backlog, or pipeline development that could signal earnings inflection.