Central Pattana Public Company Limited, or "the Company" or "Central Pattana" has announced its financial results for the first quarter of 2023, showing strong continuous growth with total revenue of 10.29 billion baht, up 27% from the previous year, and a net profit of 3.25 billion baht, up 39% from the previous year. The company also revealed its vision and business strategy, announcing the development of a future business model as 'The Ecosystem for All' through synergy across all businesses, with retail as the core, connecting with residential, office, and hotel businesses to strengthen the entire system while addressing the lifestyle needs of everyone both online and offline in a 360-degree manner, and expanding into new asset businesses that will create a better future for living, alongside sustainable care for society and the environment under the vision of Imagining Better Futures For All, committed to creating good things for a sustainable future for everyone.

Ms. Naparat Sriwanwittaya, Chief Executive Officer and Deputy Managing Director of Finance, Accounting, and Risk Management of Central Pattana stated, "The company's performance has rebounded significantly in 2022 and continues to improve, especially in the shopping center business, which has seen revenue recover beyond pre-COVID levels. In the first quarter of 2023, the company achieved total revenue of 10.29 billion baht, up 27% from the previous year, and a net profit of 3.25 billion baht, up 39% from the previous year. We are also moving forward with plans to open a new hotel, Centara Ubon, and the community mall Marché Thonglor in March 2023."

Additionally, the company announced its vision and business strategy to develop a future business model as 'The Ecosystem for All' through synergy across all businesses, including shopping centers, residential, office, and hotel sectors, seamlessly connecting with business partners, people, communities, society, and the environment to develop the business into a 360-Degree Centre of Life, a hub for living that meets all aspects of life including shop-eat-work-play-stay-live, both offline and online, 24 hours a day, 365 days a year, nationwide, while expanding investments into new businesses that will strengthen the shopping center business, which is the core business, to create a future for living alongside sustainable care for society and the environment."

Moreover, in March, CentralWorld created a "Talk of The Town" phenomenon by launching Thailand's first Tesla Supercharger Station and Shake Shack, the famous American fast-food chain, opened its first branch in Thailand, reinforcing its status as a global landmark destination where renowned global brands choose to debut. Additionally, Central Pattana created a global Songkran phenomenon at the THAILAND'S SONGKRAN FESTIVAL 2023, held in a Songkran Entertainment format at Central shopping centers nationwide, aiming to elevate the Thai Songkran festival to a global festive level that people worldwide must visit, similar to the success achieved during the Countdown event. The response to this event was overwhelmingly successful, with over 8 million Thai and international tourists participating over the four-day event (April 13-16, 2023), reaffirming its success as the number one organizer of festive events and the Best Songkran Landmark of Thailand, the ultimate Songkran entertainment landmark.

Furthermore, Central Pattana has been recognized as Thailand’s Most Admired Company, the number one shopping center business organization that has captured the hearts of consumers the most for the year 2022-2023, based on a survey and research by Brand Age media and votes from consumers nationwide, reflecting the organization's growth driven by the brand love of Thai people across the country.

As of the end of Q1 2023, Central Pattana manages a total of 39 shopping centers (37 Central shopping centers in Bangkok and surrounding areas, 15 projects in provinces, 21 projects, and 1 project in Malaysia, 1 Esplanade shopping center, and 1 Mega Bangna shopping center under a joint venture), 17 community malls, with a total net leasable area of 2.3 million square meters. Additionally, it manages 33 food courts, 10 office buildings, 5 hotels, and 28 residential projects, including condominiums under the brands ESCENT, ESCENT VILLE, ESCENT PARK VILLE, PHYLL, and BELLE GRAND RAMA 9, as well as various horizontal projects under the brands ESCENT TOWN (townhomes), ESCENT AVENUE (home offices), NINYA (duplex houses), NIYAM (luxury single houses), and various horizontal projects under the NIRATI brand in Chiang Mai, Chiang Rai, Bangna, and Don Mueang.

New projects currently under construction and set to open in 2023-2024 include Central Westville shopping center (scheduled to open on October 27, 2023), Central Nakhon Sawan (Q1/2024), Central Nakhon Pathom (Q2/2024), Central Krabi (Q4/2024), and other projects set to open this year, including Centara Ayutthaya Hotel, Centara One Rayong Hotel, GO! Hotel adjacent to Central Sriracha, and Central Chonburi, along with 7 residential projects (NIRATI Nakhon Si Thammarat, 3 new single house brands, and 3 ESCENT condominium projects). Additionally, there is the Mega Mixed-use project "Dusit Central Park," a big project developed in collaboration with Dusit Thani Public Company Limited, which will gradually open for service starting in 2024.

Regarding the business direction for the next 5 years (2023-2027), the company will continue to invest in developing new projects, both announced and unannounced, including mixed-use development projects, residential projects, as well as plans to improve existing assets to increase value, while managing expenses and reducing costs efficiently on an ongoing basis to maintain financial liquidity, preparing for uncertain situations, while continuing to explore investment opportunities in other business forms and investments abroad in Southeast Asia, such as Malaysia and Vietnam, as well as studying opportunities for investment in new businesses with high growth potential to expand channels for creating new revenue and align with future growth targets sustainably.

Additionally, in terms of the CPNREIT trust, Central Pattana, as the sponsor, major unitholder, and property manager, continues to prioritize and fully support CPNREIT to create good and stable returns for CPNREIT and unitholders, both in terms of asset management, ensuring property improvements and developments, and aiming to support the stable growth of CPNREIT in terms of income and asset size, as well as supporting the investment structure of CPNREIT to raise funds appropriately for investing in additional properties. The performance of CPNREIT in Q1 2023 continued to grow in line with the company, with total revenue of 1.42 billion baht, up 28% from the previous year, and a net profit of 1.15 billion baht, up 28% from the same period last year, and announced a payment to unitholders of 0.3220 baht per unit. Currently, the CPNREIT trust manager is preparing to proceed with the lease extension for the Central Pinklao project and the restructuring of the payment for the lease extension for the Central Rama 2 project, which will be presented to unitholders for approval in Q2 of 2023.