MC Group Public Company (MC) Q1 2025 earnings summary

Executive summary

• E-commerce and product exclusivity continue to drive growth, with improved customer experience and strong online sales supporting profit growth despite a slight sales decline in Q1 FY2025.

• Maintains a leading position in apparel and lifestyle, operating primarily in Thailand with a diversified product portfolio and extensive retail network.

• Interim financial statements for the three months ended September 30, 2024, were reviewed with no material misstatements.

Financial highlights

• Q1 FY2025 EBIT was THB 158 million, down 5.3% year-over-year, while NPAT increased 2.8% to THB 133 million.

• Gross profit margin declined to 65.3% from 66.0% in Q1 FY2024.

• SG&A expenses rose 0.7% year-over-year.

• Cash and short-term investments reached THB 1,868 million, with zero interest-bearing debt.

• Basic EPS for Q3 2024 was Baht 0.17, with consolidated profit at Baht 167.1 million.

Segment performance

• Non-denim products now make up 65% of the portfolio, showing diversification beyond core denim.

• Offline sales dropped 8.3% year-over-year, while online sales surged 25.7%, now contributing 15% of sales in Q1 FY2025.

• The Group operates a single reportable segment: clothing and accessories, with all revenues and assets in Thailand.

• No customer accounted for 10% or more of total revenues during the period.

• OME product exclusivity in e-commerce enhances customer experience and platform relationships.