SENA demonstrates business strength with 3.84 billion baht in revenue over six months, a 92% increase as it prepares its financial structure and expands into new business areas under the concept of "THE ESSENTIAL LIFELONG TRUSTED PARTNER" to meet the needs of residents of all ages. This comprehensive service aims to enhance quality of life sustainably and happily in areas such as service business, finance, health, and environmentally friendly energy. The backlog remains robust at 6.879 billion baht, awaiting revenue recognition from four new projects: Flexi Tao Pun Interchange, Sena Kith Westgate-Bang Bua Thong Phase 2, Sena Kith BTS Saphan Mai, and Sena Kith Rattanathibet - Bang Bua Thong.

Ms. Athika Boonrodchu, Director of Fund Allocation and Investment at Sena Development Public Company Limited (SENA) revealed that the company's performance for the first half of 2023 saw total real estate revenue of 3.84 billion baht, a 92% increase compared to 2 billion baht in the same period last year. This includes revenue from sales of non-joint venture projects amounting to 1.111 billion baht and revenue from joint venture projects totaling 2.729 billion baht. The presale figure for six months stands at 5.383 billion baht, comprising 1.352 billion baht from non-joint venture projects and 3.521 billion baht from joint ventures.

The company reported total revenue of 4.427 billion baht (as per the financial statement notes), which includes real estate revenue of 3.84 billion baht, rental and service business revenue of 307 million baht, and solar business revenue of 280 million baht, achieving a gross profit margin of 35% and a net profit margin of 9.5%. This results in a net profit of 239 million baht for the six-month period, a decrease compared to the same period last year due to a special profit from negotiating the purchase of SENX and adjustments in project management contracts and asset sales from subsidiaries.

The company's board has recognized the need for risk management strategies that align with the current financial situation and rising global interest rates, as well as the movements in the money and capital markets. To strengthen cash flow and mitigate risks, the board has decided to suspend interim dividend payments for 2023 and will reconsider dividend payments at the end of 2023.

Nevertheless, the company maintains a strong backlog as of July 31, 2023, with a total value of 6.879 billion baht, comprising approximately 868 million baht from non-joint venture projects and 6.01 billion baht from joint ventures. The company is also preparing to transfer ownership of four projects in the second half of the year, including 1. Flexi Tao Pun Interchange, 2. Sena Kith Westgate-Bang Bua Thong 2, 3. Sena Kith BTS Saphan Mai, and 4. Sena Kith Rattanathibet – Bang Bua Thong, resulting in total accumulated inventory of 27.224 billion baht, which will be crucial for generating future value and revenue. Additionally, the plan to expand into new businesses aims to cover consumer care in areas such as property management services, loan services, and sales of housing-related products to support the future E-COMMERCE market, health services, warehousing, logistics, as well as clean energy and reforestation businesses. This represents a proactive strategy for the Sena Group to become more than just a property developer under the concept of "THE ESSENTIAL LIFELONG TRUSTED PARTNER."

In the second half of 2023, the company remains committed to developing its business under the concept Made From Her "Thinking More Carefully Means Living More Comfortably," focusing on enhancing the quality of life for customers of all ages and striving for business growth through two main strategies: 1. Convenient Living, which emphasizes comfort in daily life by enhancing functionality within homes and condominiums, and 2. Sustainable Living, which focuses on sustainable living while caring for the environment by implementing SMART CITY concepts in project features to enable residents to easily reduce their carbon footprint every day.

This will be developed into horizontal projects under the concept of "Zero Energy House" (ZEH), building on collaboration with Hankyu Hanshin Properties Corp. (HHP) and Chula Unisearch to design residences suitable for the environment and lifestyle of Thai people. Research indicates that the Zero Energy House concept can reduce energy consumption by up to 38%. Additionally, in high-rise developments, the SMART CITY concept will be utilized to create "Low-Carbon Condominiums" to foster a comfortable and sustainable lifestyle, with product development and sales starting in the third quarter of this year.