Lalin Property Public Company Limited announced its 2024 earnings with total revenue of 3,696.59 million baht and a net profit of 588.04 million baht. The company's board of directors has resolved to propose to the annual general meeting of shareholders the payment of a full-year dividend of 0.34 baht per share, which translates to a Dividend Yield of approximately 6.4% based on the current stock price.

Mr. Churachart Chakrakul, Managing Director of Lalin Property Public Company Limited, a real estate developer under the concept of "homes built on good intentions," discussed the overall economic outlook for 2024, noting a growth rate of 2.5%. This growth is lower than many had anticipated at the beginning of the year and is considered below the country's potential. The main driver of growth remains the tourism sector.


Mr. Churachart Chakrakul, Managing Director of Lalin Property Public Company Limited

Additionally, the export sector has shown improvement in the second half of the year. In terms of the real estate market in 2024, commercial banks continue to be strict in lending, resulting in a situation where properties can be sold but not transferred. The overall market has contracted in 2024, reflected in both the number of registered residences and the number of property transfer units, according to the Real Estate Information Center. Lalin has managed its operations prudently, focusing on marketing to real demand buyers and striving to develop home designs that meet customer needs, which has helped the company's overall performance. Although there has been a decline, it is less than the overall market situation.

The company's performance in 2024, amidst a contracting market, achieved revenue of 3,696.59 million baht while effectively managing various costs, maintaining a gross profit margin of around 39%, and reporting a net profit of 588.04 million baht, which corresponds to a net profit margin of 16%, higher than the industry average. The board of directors has approved the proposal for profit allocation for 2024 to shareholders, with a total dividend payment of 0.34 baht per share, amounting to approximately 314.5 million baht. Based on the current stock price, this results in a Dividend Yield of around 6.4%. The company has already paid an interim dividend of 0.165 baht, leaving an additional payment of 0.175 baht per share. The list of shareholders entitled to receive dividends will be determined on March 14, 2025 (with the XD mark on March 13, 2025), and dividends will be paid on May 16, 2025. The balance sheet reflects strong liquidity and financial status, with a declining debt-to-equity ratio for two consecutive quarters and a net debt-to-equity ratio of only 0.63 times at the end of 2024, which is very low compared to the industry average. Furthermore, the company has a committed line of credit available from several partner commercial banks, amounting to over 3,000 million baht, indicating strong liquidity and prudent financial risk management.

Regarding the outlook for 2025, it is expected that the overall economy will grow better than the previous year, with the number of foreign tourists anticipated to increase to 37-38 million. Private sector investment is expected to rise due to foreign direct investment (FDI), along with reduced interest rates and additional government economic stimulus measures. All these factors are likely to positively impact the real estate market, which is expected to recover better than in 2024. The company aims for sustainable growth, targeting sales of 5,000 million baht and revenue recognition of 4,050 million baht for 2025.