(Bangkok - February 25, 2019) - Origin has announced its 2018 financial results, achieving a net profit of 3.338 billion baht, reflecting robust growth compared to the overall market, with total revenue reaching 16.638 billion baht, also meeting strong growth targets. The company recorded sales exceeding 27.5 billion baht, positioning itself among the top real estate businesses in 2019, while actively creating new opportunities in horizontal projects, hotels, and services, showcasing a quality backlog of over 34 billion baht, with continuous transfers. A dividend of 0.30 baht per share has been declared for the end of the year.

Mr. Pirapong Jarunek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, stated that 2018 was another year of strong growth for the company, with a net profit of 3.338 billion baht, representing a 65.2% increase from 2017, surpassing the average growth rate of the real estate sector, and achieving a net profit margin of 20.1%. Meanwhile, total revenue for 2018 was 16.638 billion baht, up 66.6% from the previous year.

"In 2018, the company launched seven new projects with a total value exceeding 25.5 billion baht. The average sales rate for the past year was 72-75%, significantly higher than the market average of around 40-50%. This success is attributed to our understanding of customer needs and our ability to develop products that meet those demands, resulting in continuous sales and transfers from our quality backlog, reflecting consumer confidence in the quality of Origin Property's products and services," Mr. Pirapong said.

For 2018, total sales reached 27.552 billion baht, an increase of 86.7% from 2017, with condominium sales accounting for 26.378 billion baht and house project sales at 1.174 billion baht, placing the company among the top in the real estate sector last year.

Mr. Pirapong further stated that in 2019, the company will continue to maintain stable growth in the condominium business while diversifying growth into new business areas, including horizontal projects and recurring income-generating businesses such as hotels, serviced apartments, offices, community malls, mixed-use projects, and services, through the development of projects that meet consumer demands. New business segments will gradually play a more significant role in both the short and medium to long term.

Initially, the company plans to launch residential projects for sale in 2019 valued at over 26 billion baht, an increase from 2018's 25.5 billion baht, with a revenue target of 19 billion baht and total sales from both old and new projects set at 28 billion baht.

"Currently, we have a backlog of quality sales awaiting revenue recognition valued at over 34.271 billion baht, with expected revenue recognition this year reaching 11.267 billion baht, accounting for 66% of our revenue target from sales this year. We are confident that we can recognize revenue as planned, as most of our backlog comes from customers looking to purchase for actual living," Mr. Pirapong added.

He also mentioned that the company's board of directors has approved a dividend payment for the company's 2018 performance at a rate of 0.30 baht per share, totaling no more than 736,401,343.50 baht. The dividend will be paid in cash, with May 3, 2019, set as the record date for shareholders entitled to receive the dividend, and payment to shareholders scheduled by May 24, 2019.

Origin Property Public Company Limited has a diverse business structure, including: 1. Residential Development Business, developing condominiums and housing projects with a total of 51 projects such as PARK ORIGIN, KnightsBridge, Notting Hill, Kensington, and Britania, with a total project value exceeding 84 billion baht; 2. Recurring Income Business, including hotels, serviced apartments, and retail; 3. Service Business, including property management, real estate agency, and consulting services, with a vision to continuously expand into new business types to become a comprehensive real estate operator.

Thank you for the information from www.origin.co.th