• With a backlog ready to be recognized this year of over 14,650 million baht, we are confident in achieving our revenue targets.
  • We are set to launch 23 new projects worth over 27,260 million baht, along with ongoing projects valued at over 55,150 million baht.
  • The first four months have shown promising results, meeting all demands across segments, reflected in total sales of 15,000 million baht.

Bangkok (May 15, 2019) – AP (Thailand) Public Company Limited, a leader in real estate development and housing innovation, reinforces its position as a comprehensive property developer. The first quarter results show remarkable growth, driven by successful sales of single houses, townhomes, and condominiums (100% JV), achieving total revenue of 10,030 million baht, a 37.4% increase from the same period last year. Net profit stands at 1,078 million baht, with total sales reaching 15,000 million baht, growing by 220%. We are confident in exceeding our sales and revenue recognition targets (sales target of 41,800 million baht and total revenue target of 35,900 million baht, including 100% JV). We guarantee stable growth with a backlog valued at over 51,500 million baht and plans to launch another 23 new projects in the second half of the year.

Mr. Anupong Asavaphokin, CEO of AP (Thailand) Public Company Limited, stated, "The overall market is changing significantly, with a decreasing average age of buyers and increasingly specific demands. This presents a challenge for real estate developers to create distinctive products that resonate with consumers. AP believes that the urban housing market still has demand, but the product formats and pricing packages must evolve based on actual housing needs and align with current payment capabilities. Since the beginning of this year, AP has seen continuous success in both sales and property transfers for both condominiums and horizontal projects. As a result, in the first quarter, AP generated total revenue from horizontal products, condominium groups (100% JV), and other businesses of up to 10,030 million baht, an increase of 37.4% compared to the same period last year, which had total revenue of 7,300 million baht. Net profit is 1,078 million baht, up 24.6% from the previous year, which had a net profit of 865 million baht. The company maintains a debt-to-equity ratio of 0.78."

One of the key successes in AP's project development is having a diverse range of products that meet all urban needs and setting sales price packages that cover demand from entry-level prices of 2-50 million baht and above. The total revenue in the first quarter of over 10,030 million baht comes from revenue recognition in horizontal products, which grew by over 50% compared to the same period last year, clearly reflecting the market response to single houses and townhomes. The condominium projects RHYTHM Ekkamai and LIFE Asoke are key drivers of total revenue for AP Thailand," Mr. Anupong added.

As of April 30, 2019, the company has achieved total sales of 15,000 million baht, with a backlog valued at approximately 51,500 million baht, including horizontal projects worth 7,160 million baht, which will be recognized within this year, and condominiums (including joint ventures) valued at 44,340 million baht, with approximately 7,490 million baht to be recognized this year. The company is confident in achieving its revenue targets with plans to launch 23 new projects in the second half of the year, valued at approximately 27,260 million baht, consisting of 12 townhome projects worth 9,250 million baht, 10 single house projects worth 11,710 million baht, and 1 condominium project worth 6,300 million baht, along with over 100 ongoing projects around Bangkok, with a remaining sales value of over 55,150 million baht.

The company continues to aim for its major goal of becoming a leading real estate developer in Thailand that meets all the needs of residents at every stage of life comprehensively and holistically. Our key mission is to address and enhance the quality of life for people in society successfully, while also strengthening the real estate business in Thailand by elevating operational models to create new living experiences in real estate with quality, convenience, and safety, truly accessing the meaning of quality of life that customers genuinely desire and ensuring sustainability," Mr. Anupong concluded.

In summary, in 2019, the company launched a total of 40 new projects valued at 58,050 million baht, with plans to launch 23 projects in the second half of the year valued at 27,260 million baht, including 1 condominium project worth 6,300 million baht and 22 horizontal projects worth 20,960 million baht.

“AP Thailand dares to be different for the best quality of life for Thais.”

Thank you for the information from www.apthai.com