SC Strong Performance: Record Home Sales in the First Half of the Year with Total Revenue of 7,888 Million Baht and Net Profit of 757 Million Baht, Growing 27%

Reinforcing Financial Stability, Confident in Continued Investment in the Second Half of the Year, Launching 7 New Projects Worth Over 7,800 Million Baht.

SC Asset Corporation Public Company Limited or SC a leading real estate developer providing Living Solutions for better mornings, as stated by Mr. Natthapong Khunakarwong, Chief Executive Officer that, “The company has shown growth against the trend during the COVID-19 situation due to increased demand for homes. With confidence in the quality of our products and services, along with a range of homes at various price levels in prime locations across Bangkok and its vicinity, SC homes have sold exceptionally well, achieving the highest quarterly sales record in Q2/63 with total sales of 6.22 billion baht, growing 47% (YoY), driven by horizontal sales of 5.652 billion baht, which surged 116% (YoY).

As a result, the performance in the first half of the year has grown excellently, with total revenue of 7.888 billion baht, growing 18% (YoY). Revenue from operations reached 7.861 billion baht, with 95% coming from property development for sale and 5% from rental and service income. The net profit stood at 757 million baht, growing 27% (YoY), with total sales of 8.202 billion baht, growing 17% (YoY).

For the second half of the year, the company plans to launch 7 new horizontal projects worth over 7.8 billion baht, along with 51 ongoing projects with a total remaining value for sale of over 40.5 billion baht, consisting of 43 horizontal projects and 8 condominium projects.

 

 

Additionally, the company maintains strong liquidity and financial stability, currently holding cash and credit lines of over 8 billion baht supported by financial institutions. The debt-to-equity ratio (IBD/E) at the end of Q2 stands at 1.38 times, and there are positive signs of reinvestment in the bond market from institutional investors. The company plans to invest in land for horizontal development in 2022 with a budget of over 8 billion baht, and has already secured land for new projects to be launched next year.

 

Mr. Natthapong concluded, “With our commitment to developing high-quality products and services, we are confident that in the second half of the year, SC homes will continue to receive positive feedback and maintain strong sales, supporting the company to achieve its revenue target of 17 billion baht this year, with current secured revenue or backlog reaching 75% of the target.”

To facilitate visits to new projects, including completed homes, townhomes, and condominiums ready for occupancy, inquiries and appointments can be made by calling 1749 or visiting www.scasset.com.