Ananda Development PCL delivers second quarter profits up 33% year on year to 279 million Baht on revenues up 30% over the previous year.

Real Estate Press Releases Wednesday August 16, 2017 11:48
Bangkok--16 Aug--Siam PR. Consaltant

Ananda Development PCL delivers second quarter profits up 33% year on year to 279 million Baht on revenues up 30% over the previous year. Presales beating guidance by 50% for the second quarter supporting record backlog. Also a newly announced record interim dividend.

Ananda Development Public Company Limited announces net profits of 279 million Baht for the second quarter, an increase of 33% over the same quarter a year earlier and an increase of 99% from the previous quarter. The company generated 3,752 million Baht in revenue, an increase of 30% over the same quarter a year earlier and an increase of 62% from the previous quarter. In addition, the company also reported strong presales from both new launches and existing projects with presales 50% above guidance at 7,352 million Baht. The company also raises its annual presales target to 31,036 million Baht and increases the full year transfer target to 25,047 million Baht an increase of 58% over 2016's total and continues delivering the results the company expected as part of its "harvest period" during which it expects to grow transfers from under 10 billion Baht in 2015 to almost 60 billion Baht in 2020.

During the quarter the company launched 22.8 billion Baht of new projects. Comprising five new condominium projects and a new housing project, The projects launched were the 3.2 billion Baht Ideo Q Victory condominium project near the Victory Monument BTS station, the 6.4 billion Baht Ashton Asoke-Rama 9, near the Rama 9 MRT station, the 4.3 billion Baht Ideo Q Sukhumvit 36, near the Thong Lo BTS station, the 3 billion Baht Ideo New Rama 9, near the Ramkhamhaeng 12 MRT station, and the 5 billion Baht Elio Del Nest condominium near the Udomsuk BTS station. The company launched Unio Town Lumlukka Klong 4, a new housing brand, with a total value of 0.9 billion Baht near Klong 4 station.

Including sales from existing projects the company generated total presales for the quarter of 11,051 billion Baht, 50% greater than the guidance of 7,352 million baht. This was partly due to stronger than expected demand and partly due to the movement of 16 billion Baht of projects that were launched in Q2 rather than later in the year as was initially guided. The company ended the quarter with a record backlog of 49.7 billion Baht due to transfer over the next 4 years, an increase of 17% from the previous quarter and 29% up from the same quarter a year earlier.

Second quarter revenues from sales of real estate were 2.7 billion Baht, a 69% increase over the previous quarter and 5% from the same quarter a year ago and the company had other income of 1,090 million Baht mostly in the form of management fee payments from the joint ventures, combining for a total revenue of 3,752 million Baht, an increase of 30% over the same quarter last year and 62% from the previous quarter. This drove the company's net profits to 279 million Baht for the quarter, an increase of 33% year on year and 99% from the previous quarter. The company's net margin was 7% for the quarter, an improvement from the 6% in the previous.

Mr. Chanond Ruangkritya, CEO of Ananda, said, "We're delighted to have a successful launch of five new condominium projects at the Ananda Urban Pulse event and have exceeded our quarterly presales target in the quarter. In the first half of the year, we have already reached 50% of our annual presales target and we still have 8 planned projects to be launched this year. We continue relentless focus on customer needs providing convenience through the location next to the BTS and continuously introducing new technology to improve the quality of urban life while ensuring that nature is integrated into the projects while maintaining competitive pricing."

He added, "The sales rates for the projects in the two weeks between launch and the end of the quarter were well ahead of expectations with the 3.2 billion Baht Ideo Q Victory being 100% sold out with over 4,000 applications for the 348 units. Ashton Rama 9, project value 6.4 billion was 74% in the first 2 weeks. The 3 billion Baht Ideo New Rama 9 was 54% sold after 2 weeks. The 4.3 billion Baht Ideo Q Sukhumvit 36 was 45% sold within 2 weeks of launch. Our normal target for a project launch is 40% sales within the first 3 months of launch so for so many projects to exceed their target in a market that saw a large volume of launches by ourselves and other companies is a good indicator of strong underlying demand."

Mr Chanond Ruangkritya, CEO of Ananda, said, "We are delighted to have achieved such strong revenue results in the quarter and in particular that our net profits increased almost 100% from the previous quarter. We continue an exciting period for Ananda we refer to as our "Harvest Period", which will see our transfers triple between 2015 and 2018, the 65% growth target for 2016 was already achieved last year and the company remains confident of hitting its targeted 58% growth in transfers in 2017 to 25 billion Baht. We have backlog to be transferred in 2017 of 16.3 billion Baht, including Ananda and Mitsui's share of joint ventures which represents 81% of the next six months of 2017 transfer target. We have ten condominium buildings finishing construction and beginning to transfer in 2017 compared to five new condominiums finishing in 2016."

Mr. Chanond Ruangkritya, CEO of Ananda, said, "We have maintained financial discipline and achieved this growth without adding risk and maintained our net interest bearing debt to equity at only 0.77:1."

Mr. Chanond Ruangkritya continued, "Our financial discipline has been recognized by the market as in April 2017, we issued a 3 billion Baht bond with a tenor 3 years at a rate of only 3.95% down significantly from the 5.40% rate of our last issued 3 year tenor bond."

As such, the Board approved a record interim dividend in the amount of 6 satang, an increase of 50% from a year earlier and extends the company's record of increasing the dividend every year since the IPO."

Latest Press Release

MINT receives Thailands Best Developer in Leisure/Hotel from Euromoney Real Estate Awards 2017

MINOR INTERNATIONAL PCL. (MINT), a Thai-based local company focused on three core businesses: restaurants, hospitality and lifestyle brands distribution receives "Thailand's Best Developer in Leisure/Hotel Sector" from Euromoney's Real Estate Survey 2017...

Schindler Lifts Mobility Standards with the Schindler 9300 Escalator

Schindler continues to elevate its world-leading vision in elevators, escalators and moving walkways, with the new Schindler 9300 -- a smart and sustainable escalator for diverse building designs across Asia. Photo -...

#พัฒน โปรเฟสชันแนล สถาปนิกไทยที่มีชื่อเสียงด้าน #รับออกแบบอพาร์ทเม้นท์ ไดรับเชิญร่วมเป็น #ผู้แทนการค้า บริการก่อสร้างและธุรกิจเกี่ยวเนื่องเยือน #สหรัฐอาหรับเอมิเรตส์ เพื่อรองรับงาน #WORLD EXPO 2020 DUBAI ระหว่างวันที่ 10-13 กันยายน 2560

จากความเป็นมาที่ยาวนานของงาน 'WORLD EXPO' ที่เริ่มจัดครั้งแรกตั้งแต่ปี 1851 ในชื่องาน 'The Great Exhibition of Works of Industry of All Nations' หรือ 'The Great Exhibition' ที่จัดยัง 'The Crystal Palace' ณ สหราชอาณาจักร เป็นต้นมา ได้มีการจัดงาน World...

Introducing Hardox(R) 500 Tuf: The new generation of Hardox(R) wear plate for tipper bodies, buckets and containers

The new Hardox(R) 500 Tuf has exceptional strength, hardness and toughness in one and the same wear plate It combines the best properties from Hardox(R) 450 and Hardox(R) 500. The result is a wear plate with no real competition on the market. Hardox(R)...

Photo Release: Habitat Group wins 5 awards at 12th Thailand Property Award 2017

Habitat Group, one of Thailand's leading developers of premium property for investment, led by Mr. Chanin Vanijwongse (left) - Chief Executive Officer, and Ms. Sasivimol Sutthibut (right) – Chief Operating Officer, recently received 5 awards at...

Related Topics