Ananda Development Public Company Limited, or ANAN, a leader in urban residential development, maintains its position as the market leader in condominium projects near the BTS Skytrain. The company is confident in its past successes, attributed to its effective strategies that perfectly meet the needs of urban living. It showcases its potential by announcing business achievements with a remarkable 120% increase in transfer value from the previous year, resulting in a record high of over 33.171 billion baht. The transfer value from foreign customers also reached a record high of 6.3 billion baht, a 300% increase from the previous year, demonstrating the company's commitment to continuous growth. Additionally, the company has received ongoing support from strong partnerships, such as with Mitsui Fudosan, and has recognized profits from joint venture projects. The business plan for 2019 aims to increase the value of new project launches by 42% from the previous year, striving to maintain its leadership in condominiums near the BTS Skytrain.

 

          Mr. Chanont Ruangkritya, Chief Executive Officer and Managing Director of Ananda Development Public Company Limited stated, “The company has achieved performance results that exceeded expectations from our operational plans, setting record highs in net profit, transfer value, and sales from foreign customers, which diversifies our customer base. We achieved a record net profit of 2.419 billion baht, an 82% increase from the previous year, primarily driven by profits from joint venture projects, which are the company's core business. We also set a new record in transfer value at 33.171 billion baht, growing 120% from last year, with foreign customer transfers also reaching a record high of 6.3 billion baht, a 300% increase from the previous year. Furthermore, we successfully achieved new sales records from new projects and previously launched projects, with total sales reaching 10 billion baht in 2018. The company had a backlog at the end of 2018 of 41 billion baht to support the growth of our transfer values over the next three years.”

 

          In the fourth quarter, the company launched a new condominium project, Ideo Mobi Sukhumvit East Point, valued at over 5.6 billion baht, located near Bangna BTS station, and a new horizontal project, Unio Town Suksawat 30, valued at over 800 million baht.

 

          In 2018, the company launched 6 condominium projects and 6 horizontal projects, with a total project value of over 26.8 billion baht, in line with its business plan. In 2019, the company aims to increase the number of new project launches according to its investment cycle.

 

          “The company's cash flow remains strong, with a policy to maintain high cash levels across the group, including joint ventures. We also receive strong and continuous support from leading financial institutions and have various options for sourcing funds that can be utilized according to the situation. Despite continuous growth, the company maintains strict financial discipline, keeping the net interest-bearing debt-to-equity ratio under the target of 1:1.”

 

The company plans to launch 10 new projects in 2019, valued at over 38 billion baht, a 42% increase from the previous year, consisting of 8 condominium projects, including 7 joint ventures with Mitsui Fudosan, and 2 horizontal projects. The sales target is set to increase by 14% to 36 billion baht from 31.5 billion baht in the previous year, with a transfer growth target of 9% from the previous year, also at 36 billion baht. In 2019, the company expects to have 10 additional condominium projects completed and ready for transfer, following over 10 new condominiums completed and transferred in 2018.

 

The company aims to expand its recurring revenue business to sustain long-term growth after having developed 5 serviced apartment projects. Additionally, the company has invested in common shares of Dusit Thani, representing 5% of the total shares, which is a company listed on the Stock Exchange of Thailand, to enhance business opportunities and establish long-term partnerships.

 

          The company’s board is preparing to seek approval to propose at the annual shareholders' meeting to consider increasing the dividend payout to shareholders to 25.40 satang, a 99% increase from the previous year, continuing the trend of increasing dividends every year since the company's IPO.

 

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