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EA (AWS TP Bt49) reported 1Q19 net profit of Bt1.21bn (-37% YoY, + 57% QoQ). If the extra items were deduced, the normalized profit would be Bt1.13bn, better than Bloomberg consensus 2% (SET). Comment: We think the company is entering into a heavy investment period of the battery and electric car businesses. We expected the company to take more than 2 years to reach break-ven point. Thus, we recommend only HOLD.
EA (AWS TP Bt49) reported 1Q19 net profit of Bt1.21bn (-37% YoY, + 57% QoQ). If the extra items were deduced, the normalized profit would be Bt1.13bn, better than Bloomberg consensus 2% (SET). Comment: We think the company is entering into a heavy investment period of the battery and electric car businesses. We expected the company to take more than 2 years to reach break-ven point. Thus, we recommend only HOLD.
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