SAT sees 2022 revenues rising slightly as auto demand remains intact while steel prices dip

Somboon Advance Technology Plc (SAT), one of Thailand’s leading automotive parts makers, came out to say that it expects its revenues for the to be similar or slightly higher as demand for its products rise amid expectations that vehicle production could see a slight increase.

The Stock Exchange of Thailand listed SAT said that it expects its revenues for the year  to be close to or slightly higher than those seen during 2021 as the demand for automobile are set to rise to about 1.8 million vehicles this year against 1.69 million seen during last year or a 3.5% increase.

As part of its efforts to margins SAT also said that it was undertaking a capital expenditure of 500 million Baht in order to ‘improve machine performance.’

Reethita Aksornjirarat Assistant General Manager of Finance at SAT reveal that they forecast annual revenues for this year to rise to about the same level as those seen last year or possibly higher as new orders continue to come through.

She said that as new orders come in, the cost of some raw material such as steel has declined therefore giving the company a higher margin. SAT, she said, also plans to raise some prices and all that will be reflected during the 2^nd half of the year’s finances.