ASW Reports Q1/2022 Results with Net Profit of 226 Million Baht, Gross Profit Margin of 18%, and Plans to Launch 4 New Projects Worth Over 5 Billion Baht, Announcing Aggressive Expansion as Real Estate Signals Continuous Recovery

Asset Wise Public Company Limited (ASW) has revealed its Q1/2022 performance, achieving total revenue of over 1.27 billion baht and a net profit of 226 million baht. This success is attributed to the acquisition of the Maxi Prime Ratchada-Sutthisan project, which has driven the transfer of ownership as planned. The company reaffirms its leadership in lifestyle development, delivering happiness through well-designed products. In Q2, ASW is set to launch 4 new projects valued at over 5 billion baht, fully implementing marketing strategies to capitalize on the recovering real estate market, signaling a resurgence in high-rise projects, with annual sales targets set at 10 billion baht.

Mr. Kramchat Wiphanpong, Chief Executive Officer of Asset Wise Public Company Limited (ASW), a leading real estate developer focused on lifestyle, under the concept of "Happiness Designed for You" or "We Build Happiness," stated that the overall business performance in Q1/2022 saw total revenue of 1.27 billion baht, a decrease of 18% QoQ but an increase of 2% YoY. The main projects contributing to the transfer of ownership included the Maxi Prime Ratchada-Sutthisan project valued at 570 million baht, the Phuripuri House project on Ladprao 41 valued at 90 million baht, the Kave Town Shift project valued at 2.1 billion baht, and the Modiz Sukhumvit 50 project valued at 2.3 billion baht, which continued to recognize revenue from Q4 of the previous year.

Meanwhile, the net profit reached 226 million baht, up 4% QoQ but down 29% YoY. The company maintained a gross profit margin (GP) of 36% and a net profit margin (NP) of 18%, which is considered high compared to the industry average.

For the real estate market outlook in Q2, it is expected that housing demand will show improved growth due to positive factors as customers begin to ease their concerns over the COVID-19 pandemic after the government lifted the Test & Go measures on May 1. The return of tourists is boosting consumer confidence, leading to increased interest in the condominium housing market.

As for the business plan in Q2, the company is moving forward to reinforce its leadership in lifestyle housing by preparing to launch 4 new projects with a total value of 4.98 billion baht, including the Atmos Flow Minburi project valued at 1.35 billion baht, the Esta Rangsit-Klong 2 project valued at 680 million baht, the Atmos Portrait Srisaman project valued at 1.15 billion baht, and the Kave Colony project valued at 1.8 billion baht.

However, the company continues to prioritize management in all aspects and is ready to proceed with ongoing marketing efforts, collaborating with partners to create new dimensions for residents by integrating digital technology into their lifestyles. The company is confident that its strategies will help achieve the annual sales target of 10 billion baht, representing a 13% growth, and total revenue this year of 6 billion baht, reflecting a 19% growth according to its goals.

Asset Wise Public Company Limited (ASW) is committed to developing high-rise and low-rise residential projects in prime locations under the concept of "Happiness Designed for You" or "We Build Happiness." To date, it has developed over 41 condominium and housing projects under its brands designed to create happiness suitable for every lifestyle, including KAVE, ATMOZ, MODIZ, ESTA, and THE HONOR, with a total project value exceeding 42.4 billion baht. This includes 31 completed and ready-to-occupy projects and 10 projects currently on sale and under development. Currently, the company has a backlog valued at over 8.207 billion baht, which will be recognized as revenue continuously.