SC Corporation Reports Record High Sales in Q3, Boosting Nine-Month Revenue to 13.637 Billion Baht, Up 25% with Net Profit of 1.44 Billion Baht, Up 39%

Confident of Meeting Year-End Revenue Target of 17 Billion Baht While Expanding Low-Rise Investments to Maintain Leadership in High-Quality Homes

Mr. Atthapol Surasithiphanawat, Chief Support Officer of SC Asset Corporation Public Company Limited, a leading quality real estate developer providing Living Solutions for better mornings, revealed the company's performance, stating, "We have seen continuous growth in both revenue and net profit, with a strong financial position. In Q3/2020, our low-rise sales reached a record high of 4.406 billion baht, growing 54% (YoY), accounting for 80% of total sales revenue. Total revenue was 5.749 billion baht, up 35% (YoY), with a net profit of 684 million baht, representing 11.90% of revenue, growing 55% (YoY). This resulted in total revenue for nine months of 13.637 billion baht, up 25% (YoY), with operational revenue of 13.577 billion baht, up 24%, primarily from sales revenue at 95%, and 5% from rental and service income. Net profit was 1.44 billion baht, growing 39% (YoY), while total sales reached 12.375 billion baht, up 8%, driven by core low-rise sales of 11.342 billion baht, marking the highest sales in nine months." As of September 30, 2020, the company had total assets and liabilities of 43.674 billion baht and 25.475 billion baht, respectively, with a debt-to-equity ratio of 1.40.

Mr. Atthapol further stated, "SC continues to focus on developing low-rise projects, which have received excellent responses across all price levels, driven by our commitment to maintaining high-quality standards. Currently, we have land ready for new low-rise projects to be launched in 2021 and are prepared to invest in new land to support revenue generation in 2022-2023. In the final quarter of this year, we plan to launch four new projects, all low-rise, with a total value of 4.67 billion baht, bringing our total projects for sale to 58, with a remaining value for sale of 44.67 billion baht, consisting of 50 low-rise projects and 8 high-rise projects. Additionally, we have a backlog awaiting transfer and revenue recognition this year of approximately 4 billion baht. We are confident that we will achieve our revenue target of 17 billion baht for 2020."

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