‘AP Thailand’ reveals Q1
- Resting assured with backlog to be realized this year of more than Bht 14,650 million, confident of achieving projected total revenues
- Ready to launch 23 new projects worth over Bht 27,260 million together with ongoing projects worth over Bht 55,150 million
- Bright outlook for first four months with products to meet all segment needs reflected in presales of Bht 15,000 million
Bangkok (15 May 2019) – AP (Thailand) Public Company Limited, the leading developer of residential properties and innovations, has continued to reinforce its leadership as a developer with a portfolio of products to meet all homebuyer needs, revealing outstanding first-quarter growing performance from successful single detached home, townhome and condominium (100%JV) businesses which contributed to total revenues of Bht 10,030 million, up 37.4% on the same period of last year. Net profit stood at Bht 1,078 million. Year-to-date presales have reached Bht 15,000 million growth (+220%). The firm is confident it will be able to definitely exceed projected presales and revenues for the year (Presales projected at Bht 41,800 million and total revenues projected at Bht 35,900 million, including 100% JV). Stable growth is guaranteed by a backlog of over Bht 51,500 million and 23 new projects planned to be launched in the second half of the year.
Mr. Anuphong Assavabhokhin, AP (Thailand) PCL’s Chief Executive Officer, said, “The overall picture of the market today has changed a lot regarding the age of homebuyers for they are younger and younger and have more specific needs. It poses a challenge for developers who are forced to make their products different, outstanding and right for consumers. AP sees that the demand is still high for housing in urban areas. It is just that the format and price package of the product have to be in line with today’s real demand and mortgage payment ability. For AP, since early this year we have found continued success with presales and ownership transfer for our condominiums and low-rise projects. As a result, by the end of the first quarter AP generated total revenues from low-rise products, condominiums (100% JV) and other businesses as high as Bht 10,030 million, an increase of 37.4% on the same period of last year when our total revenues stood at Bht 7,300 million. Net profit was Bht 1,078 million, an increase of 24.6% on the same period of last year when our net profit stood at Bht 865 million. The company still maintains its debt-to-equity ratio at 0.78.”
“One of the key success factors in the company’s project development is the availability of a wide range of products covering every need of urbanites. Another is the determination of sale prices to cover a wide range of demand, from Bht 2 million to Bht 50 million and higher. The total revenues of Bht 10,030 million in the first quarter were from realized revenues of low-rise products which grew over 50% on the same period of last year. It reflects clearly great feedback detached homes and townhomes have received nowadays. For our condominiums, Rhythm Ekkamai and Life Asoke were key behind AP (Thailand)’s strong total revenues,” added Mr. Anuphong.
As at 30 April 2019, the company had Bht 15,000 million in presales and a backlog worth as high as around Bht 51,500 million, of which low-rise developments account for Bht 7,160 million, all are expected to be realized within this year, and condominiums (joint ventures included), account for Bht 44,340 million, of which Bht 7,490 will be realized this year. The firm is confident that total revenues projected for this year will definitely be achieved as it plans to launch 23 new projects worth Bht 27,260 million in the second half of this year, 12 of which are townhome projects worth Bht 9,250 million, 10 are single detached home projects worth Bht 11,710 million and one condominium project worth Bht 6,300 million. There are over 100 ongoing projects around Bangkok with outstanding value of over Bht 55,150 million.
“The company is still committed to its big goal to be among the leading property development companies of Thailand, one that has everything for every period of life of homeowners in the most complete and comprehensive package. Our main mission is to offer the right answer for urban homeowners. We will do our best to deliver them quality of life and will help strengthen Thailand’s real estate industry by elevating our operation to creating new living experiences complete with all-around quality, convenience and safety. We will seek to best realize the sustainable life quality our customers want,” Mr. Anuphong added.
In summary, the company has 40 new projects worth around Bht 58,050 million planned for 2019. It plans to launch 23 projects worth Bht 27,260 million in the second half of the year, comprising one condominium project worth Bht 6,300 million and 22 low-rise projects worth Bht 20,960 million.
“AP (Thailand) dares to be different to offer Thai people the best quality of life”