Origin Property <\/span>reveals 2022 financial results <\/span><\/span><\/strong>with strong transfer activities totaling 18.509 billion baht and an all-time high net profit of 3.775 billion baht, following the continuous transfer of ownership for large projects and mega-projects under the “Park Origin” and “The Origin” brands. The company has partnered in 15 residential projects throughout the year, with a total project value exceeding 24.6 billion baht, and collaborated on 7 projects in the hotel, shopping center, and warehouse sectors, with an estimated total REIT value of 5.5 billion baht. This reinforces confidence in business operations from multinational partners, maintaining a strong backlog of 40.521 billion baht. The board has approved an additional dividend payment of 0.57 baht per share, raising the annual dividend yield to 6.05% based on the closing price of 11.90 baht on February 27. A business plan for 2023 will be announced on March 7.<\/span><\/strong><\/p>

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Mr. Pirapong Jarunek, CEO of Origin Property Public Company Limited (ORI), <\/strong><\/span> a comprehensive real estate development company, stated that the overall performance in 2022 saw ownership transfer activities for residential projects (including JV projects) at 18.509 billion baht, marking the highest record since the company's inception (All Time High) and a 15% increase compared to the previous year. Meanwhile, revenue from hotel and other businesses reached 4.064 billion baht, resulting in a net profit of 3.775 billion baht, an 18% growth compared to the same period in 2021, breaking the company's net profit record (All Time High) with a net profit margin of 24%, which is higher than the industry average.<\/span><\/p>

“The economic situation in 2022 gradually improved significantly due to the easing of the COVID-19 situation, leading to a recovery in consumer confidence and purchasing power. Coupled with positive consumer responses to the company’s quality housing and condominium projects, ownership transfers continued. The hotel business also saw a clear and continuous improvement in occupancy rates as key countries gradually reopened. Therefore, the overall performance of the company is at a satisfactory level,” Mr. Pirapong stated.<\/span><\/p>

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Key residential projects contributing to ownership transfers in 2022 include large projects and mega-projects that were gradually completed in 2022, such as The Origin projects, including <\/strong>The Origin Ram 209 Interchange <\/strong>and The Origin Onnut, <\/strong>which began transferring ownership in Q1 and Q2 of 2022, respectively, with transfer rates of over 95% and 80% of the project value, respectively. The luxury condominium projects under the Park Origin brand, such as Park Origin Thonglor, Park Origin Ratchatewi, <\/strong>and Hampton Sriracha, <\/strong>with a total project value of over 16.6 billion baht, are also gradually transferring ownership in the second half of the year. Meanwhile, the housing projects in various new locations have also achieved remarkable ownership transfer rates, such as Britania Ratchaphruek Nakorn-In.<\/strong><\/span><\/p>

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Additionally, the company has continuously gained trust from multinational partners in 2022 across residential projects, hotel projects, shopping centers, and warehouse projects, comprising 15 residential projects with a total project value of 24.63 billion baht and 7 projects in hotels, shopping centers, and warehouses with an estimated total REIT value of 5.52 billion baht. In 2022, the company welcomed 3 new partners, reflecting foreign confidence in the company's operations.<\/span><\/p>

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With outstanding performance, the board of directors has approved the proposal for the upcoming shareholders' meeting to distribute dividends for the company's performance in the remaining 6 months of 2022 at a rate of 0.57 baht per share, equating to a dividend yield of over 6.05% based on the closing price of 11.90 baht on February 27, amounting to a total cash dividend payment of no more than 1.399 billion baht. The XD sign will be posted on May 8, 2023, with the record date for shareholders entitled to receive dividends set for May 9, 2023, and the dividend payment to shareholders scheduled by May 25, 2023.<\/span><\/p>

Mr. Pirapong further stated that the overall economic outlook for 2023 shows several clear positive factors compared to the past 3 years, including the full-year reopening of key countries for the first time in several years, resulting in a recovery of the Thai economy, particularly in the tourism and hotel sectors, and a resurgence in purchasing power for condominiums from abroad. The growth of cities is also spreading to provincial areas. The company is therefore in the process of planning operations to align with the economic situation and purchasing power, with an official announcement of the 2023 operational plan expected in early March 2023.<\/strong><\/span><\/span><\/p>

For the performance in Q1 2023, the outlook is positive as the company maintains a strong backlog of approximately 40.521 billion baht from the end of 2022, some of which will begin to recognize revenue in Q1 2023, including luxury projects such as Park Origin Chula-Samyan. <\/strong>Additionally, the Park Origin projects in both locations that began transferring ownership in mid-2022 are expected to continue transferring ownership steadily.<\/span><\/p>

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For Origin Property Public Company Limited (ORI) <\/strong> has a diverse business structure, including
1. Residential Development Business developing condominiums and housing projects with 123 projects (as of the end of 2022), such as Park Origin, So Origin, Origin Plug & Play, Knightsbridge, Notting Hill,
Origin Place, The Origin, Kensington, Hampton,
Origin Play, Brixton, and Britania, with a total project value of over 185.791 billion baht. 2. Recurring Income Business such as hotels, serviced apartments, retail. 3. Service Business such as resident services, property management, real estate buying, selling, and leasing agency, real estate consulting. and <\/span>4. Long-term Mega Trends Business<\/strong>, a new business group with long-term growth potential, such as logistics, healthcare, energy, finance, entertainment, etc., to enhance the quality of life for consumers comprehensively.<\/span>

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