Company Coverage
Amata Corporation (AMATA TB): 2Q26 Results Preview: Earnings Supported By Higher- Margin Land Transfers
BUY (Maintained)
Current price:
Target price:
Upside:
Previous TP :
Bt28.25
Bt35.00
+23.89%
Bt26.00
Analyst
Analyst
Panjarat Thaweesriprasert
Highlights
- We expect AMATA to report a 2Q26 net profit of Bt1.03b (+636% yoy, -25% qoq).
- Electronics led land sales while there were no land sales from data centres during the quarter.
Maintain BUY with a higher target price of Bt35.00 (previously Bt26.00)
Analysis
- Expect net profit to increase yoy but decline qoq. We expect AMATA Corporation (AMATA) to report a 2Q26 net profit of Bt1.03b (+636% yoy, -16.8% qoq). The strong yoy improvement is mainly driven by higher land transfer revenue, better gross margin, and lower SG&A to sales. Meanwhile, the qoq decline is due to lower land transfer revenue.
Gross margin to improve on contributions from AMATA Smart City. We expect gross margin to improve to 44.5% from 37.4%, mainly driven by better margin from the industrial estate business, supported by land transfers at AMATA Smart City, which carries a higher gross margin.
Highlights
- We expect AMATA to report a 2Q26 net profit of Bt1.03b (+636% yoy, -25% qoq).
- Electronics led land sales while there were no land sales from data centres during the quarter.
Maintain BUY with a higher target price of Bt35.00 (previously Bt26.00)
Analysis
- Expect net profit to increase yoy but decline qoq. We expect AMATA Corporation (AMATA) to report a 2Q26 net profit of Bt1.03b (+636% yoy, -16.8% qoq). The strong yoy improvement is mainly driven by higher land transfer revenue, better gross margin, and lower SG&A to sales. Meanwhile, the qoq decline is due to lower land transfer revenue.
Gross margin to improve on contributions from AMATA Smart City. We expect gross margin to improve to 44.5% from 37.4%, mainly driven by better margin from the industrial estate business, supported by land transfers at AMATA Smart City, which carries a higher gross margin.
BUY (Maintained)
Current price:
Target price:
Upside:
Previous TP :
Bt28.25
Bt35.00
+23.89%
Bt26.00
Analyst
Analyst
Panjarat Thaweesriprasert
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