- Frasers Property Thailand achieved the revenue target of THB 20,000 million for the 12-month period despite challenges in the year 2020, setting to forge ahead as Thailand’s leading developer of the first fully integrated real estate platform in 2021
- With the balanced and diversified portfolio over ‘One Platform’, Frasers Property Thailand leverages the capacity of generating revenue streams and recurring income from its asset classes. The Company achieved its revenue target for the year 2020 at THB 20,016 million amidst the challenges and uncertainties.
- The synergy from the integration creates economy of scale and enable effective operational cost management resulting in the strong financial position. This provides Frasers Property Thailand the ability to capture the new investment opportunities for expansion of the businesses.
- Earnings per share is announced at the rate of THB 0.60, increased from THB 0.46 last year.
BANGKOK - 4 FEBRUARY 2021
Endured and thrived over a protracted worldwide economic downturn and political uncertainties with its diversified asset classes spanning residential, industrial and commercial under the ‘One Platform’ strategy, Frasers Property (Thailand) Public Company Limited or “FPT” reported achieving the revenue target of THB 20,000 million for the year 2020 (1 January-31 December 2020). Moving forward in 2021, the first full year after the integration, FPT will continue forging ahead on amalgamating resources, knowledges and experiences of all asset classes to build an even stronger synergy over its integrated real estate known as ‘One Platform’.
Mr. Thanapol Sirithanachai, Country Chief Executive Officer, Frasers Property Thailand, said: “Prolonged COVID-19 and political uncertainties made last year challenging for us. Yet, it confirmed that our integration was made at the right time and attested FPT’s resilience through a diversified portfolio as well as robust balance sheet. With ‘One Platform’ strategy, FPT is able to prevail over competitors and battling business challenges. This will also leverage FPT’s stability with revenue streams and recurring income. Besides, we have been prudent in cost management with the long-term competitiveness and performance at heart. Therefore, we are confident in navigating through the new wave of COVID-19 and conquering future uncertainties.”
For the 12-month performance (January – December 2020), Frasers Property Thailand announced its total revenue and net profit at THB 20,016 million and THB 2,978 million respectively, an increase of the net profit by 14.1% Y-o-Y. A robust operating metrics with rental collection to date remaining high attributed to the increased net profit in 2020.
Besides overall liquidity remaining strong, the Company successfully managed the SG&A cost down by 218 million last quarter.
Thanks to growth momentum in FY 2020 despite the challenges, FPT announced the dividend payment on February 11, 2021, at the rate of THB 0.60 which increased from THB 0.46 last year.
Frasers Property Home (Thailand) recorded THB 14,112 million revenue for the 12-month period (January-December 2020), 8.9% decreased Y-o-Y due to home loan rejection rate hits over 4% and the overall demands in residential sector drops to 30%. However, the market outlook remained positive last quarter as it was reflected in the pre-sales from its 60 high-quality residential projects in various locations at THB 31,400. The expansion of 6 new residential projects is on track and once complete it will increase the portfolio value to THB 82,000 million from the 66 projects in total. Currently Frasers Property Home is among the Top 5 leaders in the residential real estate business.
Frasers Property Industrial (Thailand) booked its 12-month (January-December 2020) recurring rental income at THB 2,343 million. Overall occupancy rate remains healthy and slightly improved to 83% as at 31 December 2020. The group enjoys both short- and long-term demand for the industrial properties driven by a shift in logistics and supply chains supporting the e-commerce, which accelerated massively in 2020 as shoppers stuck at home during COVID-19 flocked online, resulting in increased demands for warehouses and distribution hubs to accommodate operations. Besides, there are positive signals from global leading-brand manufacturers to relocate their manufacturing sites to Thailand. The deals are only delayed because of the COVID-19 situation.
Frasers Property Commercial (Thailand) recorded revenue of THB 874 million for its 12-month period (January-December 2020). As at December 31, 2020, the overall occupancy rate is considered as strong and healthy at over 90%. The portfolio remains secured as the main tenants are leading MNCs and forefront Thai companies with stable financials. In response to the ongoing COVID-19 situation, Frasers Property Commercial has been reinforcing consistent preventive measures for COVID-19 to keep its stakeholders safety at the maximum possible level by deploying safety plans and touchless technologies at its properties, facilitating physical distancing, increasing communications with stakeholders and etc.
Financial performance for the 12-month period (January-December)
12-Month Financial Performance (January – December) |
2020 (Million Baht) |
2019 (Million Baht) |
Changes (Million Baht) |
Change (%) Y-o-Y |
---|---|---|---|---|
Revenue | 20,016 | 20,522 | -506 | -2.5 |
- Sales revenue | 14,112 | 15,382 | -1,270 | -8.3 |
- Rental and related service revenue | 2,630 | 2,791 | -161 | -5.8% |
- Other revenue | 3,274 | 2,349 | 925 | 39.4% |
Net profit | 2,978 | 2,657 | 321 | 12.1 |
Financial Performance | Q4/2020 (October - December) (Million Baht) |
---|---|
Revenue | 4,150 |
- Sales revenue | 3,054 |
- Rental and related service revenue | 574 |
- Other revenue | 522 |
Net profit | 446 |