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Industrial Services

Italian-Thai Development Public Co., Ltd.

Company Background

Italian-Thai Development is the largest construction contractor in Thailand. Its landmark construction projects include Bangkok's new international Suvarnabhumi Airport and the capital's mass transit subway system. The company was established in 1958 by a Thai Chaijudh Karnasuta and Italian Giorgio Berlingieri. Currently the company is run by an all-Thai management team led by members of the Karnasuta family. The current president Premchai Karnasuta is the second son of co-founder Chaijudh.

Premchai has been expanding the company's international operations with projects such as New Delhi's subway system and an expressway in Bangladesh's capital, Dhaka.

In 2010, the Myanmar government granted the company a 75-year lease and the right to develop an industrial district in its Dawei special economic zone, a site of 250 sq. km. But in November 2013, the Myanmar government announced its cancellation of the agreement in favor of a joint venture with the Thai government, due to its lack of confidence in Italian Thai's ability to finance the huge project. The company lost rights to the overall project, but hopes to construct ports and electricity power plants in the district.

Business Summary

Italian-Thai Development Public Co., Ltd. is engaged in the construction and development of real estate properties. Its services include construction of buildings, industrial plants, pipeline, and utility works for public infrastructure. The company was founded by Chaijudh Karnasuta and Giorgio Berlingieri on August 15, 1958 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2019 THBUSD
Revenue62,221.42M2,004.24M
Gross Profit6,518.36M209.96M
Operating income2,629.66M84.70M
Income before tax420.37M13.54M
Net income-37.34M-1.20M
EBITDA5,983.66M192.74M
Diluted EPS-0.00-0.00
Dividends Per Share----
Total Assets103,789.89M3,465.00M
Total liabilities88,107.73M2,941.45M
Total equity13,135.07M438.51M
Operating cash flow2,433.92M78.40M
Currency in THBCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 51,297.49M 47,319.56M 55,237.66M 60,643.89M 62,221.42M
Gross Profit 4,408.81M 4,518.20M 6,572.92M 6,560.59M 6,518.36M
Operating income 1,366.96M 1,715.49M 2,836.21M 2,801.34M 2,629.66M
Income before tax -507.16M 177.17M 1,057.43M 1,190.45M 420.37M
Net income -361.74M -109.27M 412.64M 305.62M -37.34M
EBITDA 3,566.63M 4,144.68M 5,258.28M 5,845.25M 5,983.66M
Diluted EPS -0.06 -0.02 0.07 0.05 -0.00
Dividends Per Share 0 0.01 0 0.01 --
Total Assets 78,095.14M 78,119.71M 87,829.37M 98,014.73M 103,789.89M
Total liabilities 63,518.62M 63,786.32M 73,056.67M 81,544.40M 88,107.73M
Total equity 13,316.81M 12,972.17M 13,225.80M 13,803.99M 13,135.07M
Operating cash flow 780.08M 3,447.72M -1,030.20M -460.13M 2,433.92M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 1,496.74M 1,341.23M 1,627.81M 1,875.93M 2,004.24M
Gross Profit 128.63M 128.06M 193.70M 202.94M 209.96M
Operating income 39.88M 48.62M 83.58M 86.65M 84.70M
Income before tax -14.79M 5.02M 31.16M 36.82M 13.54M
Net income -10.55M -3.09M 12.16M 9.45M -1.20M
EBITDA 104.06M 117.47M 154.95M 180.81M 192.74M
Diluted EPS -0.00 -0.00 0.00 0.00 -0.00
Dividends Per Share 0 0.00 0 0.00 --
Total Assets 2,170.21M 2,181.47M 2,694.97M 3,010.28M 3,465.00M
Total liabilities 1,765.14M 1,781.21M 2,241.69M 2,504.43M 2,941.45M
Total equity 370.06M 362.24M 405.82M 423.95M 438.51M
Operating cash flow 22.76M 97.72M -30.35M -14.23M 78.40M

Valuation Measures

Dec 2019
PER--
ROA-0.03%
ROE-0.27%
Operating margin4.22%
Profit margin-0.06%

Key executives

  • President, Managing Director & Director: Premchai Karnasuta
  • Executive Vice President-Finance: Chatichai Chutima
  • Senior Vice President-Technical & Estimate: Atipat Kaivalchatchaval
  • Director & Senior Executive Vice President: Nijaporn Charanachitta
  • Director & Senior Executive Vice President: Pathai Chakornbundit

Shareholders

  • KARNASUTA PREMCHAI (11.8%)
  • CHARANACHITTA NIJAPORN (6.6%)
  • The Vanguard Group, Inc. (1.0%)
  • WACHIRAPONG WICHAI (1.0%)
  • CHARANACHITTA CHITRAPHAN (0.9%)
  • CHARANACHITTA WALAITHIP (0.9%)
  • SAKHUNCHAIVANICH CHAIYA (0.8%)
  • KARNASUTA PRATYA (0.7%)
  • JURANGKOOL THAVEECHAD (0.7%)
  • PHANSAICHUE PRAWIT (0.7%)

Contact Details

  • Website:http://www.itd.co.th
  • Address: 2034/132-161 Italthai Tower, New Petchburi Road, Bangkok, 10310, Thailand
  • Phone: +66.2.716.1600

Related Companies

  • Italian Thai Development Vietnam Co. Ltd.
  • ITD SNC
  • Myanmar Italian-Thai Power 1 Co., Ltd.
  • ITD Madagascar SA Co., Ltd.
  • Italian-Thai Power Co., Ltd.
  • Wildemere Co., Ltd.
  • Khunka Palangthai Co., Ltd.
  • Palit Palangngan Co., Ltd.
  • Asian Steel Product Co., Ltd.
  • Italian-Thai International Co., Ltd.
  • Italian-Thai Development (BVI) Co., Ltd.
  • Siam Concrete & Brick Products Co., Ltd.
  • Palang Thai Kaowna Co. Ltd.
  • SRMT Holdings Ltd.
  • Thai Pride Cement Co. Ltd.

Competitors

  • Nawarat Patanakarn Public Co. Ltd.
  • Sino-Thai Engineering & Construction Public Co. Ltd.
  • Syntec Construction Public Co. Ltd.
  • TRC Construction Public Co. Ltd.
  • Triton Holding Public Co. Ltd.
  • Christiani & Nielsen Thailand Public Co. Ltd.
  • CH. Karnchang Public Co. Ltd.
  • Emc Public Company Limited
  • Power Line Engineering Public Co., Ltd.
  • Sriracha Construction Public Co. Ltd.
  • Unique Engineering & Construction Pcl
  • Seafco Public Co., Ltd.
  • Thai Polycon Public Company Ltd
  • Pre-Built Public Co. Ltd.
  • Pylon Public Co. Ltd.
  • TTCL Public Co. Ltd.
  • STP&I Public Co. Ltd.
  • Bangkok Dec-Con PCL
  • BJC Heavy Industries Public Company Ltd
  • Sahakol Equipment Public Company Ltd
  • Empresas Copec S.A.
  • ENCE Energia y Celulosa SA
  • Sappi Limited
Last Updated on 8 Jul, 2020

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