• <\/span>The only way to survive the crisis is to adapt quickly and manage cash flow tightly.<\/p>

• In the first 9 months, all figures have grown against the trend and aim to meet targets by year-end.<\/p>

• DE is only 0.8 times, reflecting the company's strong stability.<\/p>

• <\/span>In the final stretch, the sentiment in the new condo market is starting to recover with the launch of ASPIRE Erawan Prime.<\/p>

AP announces success amidst the volatility of the crisis, continuing to grow since the beginning of the year. Total revenue in the first 9 months of 2020 soared to a record high of 35.18 billion baht, with net profit exceeding the entire profit of 2019 at 3.28 billion baht. This was due to a rapid product portfolio shift, strengthening horizontal projects while demand for ready-to-move-in condos remained consistent. Key drivers included LIFE Lat Phrao and LIFE Asoke-Rama 9, with a low DE of only 0.8 times, reflecting strong company stability. The total land purchase budget for the year has been increased to 9.5 billion baht, aiming to acquire land for closed horizontal projects. The final stretch shows positive signals for condo demand with the launch of ASPIRE Erawan Prime, valued at 3.2 billion baht. By the end of 2020, the company plans to launch a total of 40 projects worth a total of 45.02 billion baht.

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Mr. Anupong Asavapokin, <\/span>CEO of AP Thailand Public Company Limited, stated, “It has been over 10 months since the world has faced the COVID-19 crisis, which is larger and different from any previous crisis. The only way to get through this is through rapid adaptation under tight cash flow management. This has allowed the company to continue to achieve growth in every quarter despite the ongoing crisis. As of the first 9 months of the year, AP has achieved a record high growth rate, generating total revenue from horizontal products, condominiums (100% JV) and other businesses of up to  35.18 billion baht, an increase of  56% compared to the same period last year, which had total revenue of 22.51 billion baht. This was a result of adjusting plans to increase the proportion of horizontal product development, along with the plan to transfer ownership of completed condominiums this year, which continues to receive positive feedback, especially in this third quarter. Part of the increased revenue comes from the gradual transfer of ownership LIFE Lat Phrao, LIFE Asoke-Rama 9, and ASPIRE Asoke-Ratchada.”

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Regarding net profit, in the first 9 months of 2020 (Net Profit) reached 3.28 billion baht, an increase of 50% compared to the same period last year, which had a net profit of 2.18 billion baht, and higher than the total profit for 2019 (3.06 billion baht). The debt-to-equity ratio stands at 0.82 times, down from 0.99 times in the same period last year, reflecting good financial management capabilities under the pressure of the ongoing crisis. The company has now increased its land purchase budget to 9.5 billion baht, after previously cutting it to 4.5 billion baht in April.

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As of October 31, 2020, the company has a backlog worth nearly 40,000 billion baht, consisting of horizontal projects valued at around 10,000 million baht and condominiums valued at 30,000 million baht (including joint venture projects). This will be gradually recognized until 2023. The company is confident that in the last quarter of the year, it will be able to generate total revenue as projected (target total revenue of 40.55 billion baht) with the support of a portfolio of horizontal products for sale exceeding 90 projects and completed condominiums ready for ownership transfer of more than 9 projects, such as ASPIRE Asoke-Ratchada, LIFE Lat Phrao, LIFE Asoke-Rama 9, and LIFE Wireless One, among others.

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“I believe we will continue to face this crisis for at least 6 more months. I don’t know how long, because this is not just a crisis in our country, but a global one. The past period has proven the impact of the changes that have occurred, including work methods, buying and selling, daily life, and living behaviors. However, the changes are not stopping here; a new storm is coming. Organizational leaders must assess the situation from all angles, especially how customers have changed, and what can be done to meet their new needs. Prepare the people in the organization, along with managing cash flow, so that we can survive this crisis together,” Mr. Anupong stated.

For the operational plan amidst this year's crisis, in addition to adjusting the portfolio to launch new products, including a total of 39 projects worth a total of 41.82 billion baht, the demand in the condominium market is starting to show positive signals in the final quarter. The company has therefore adjusted its plan to launch a condominium, 1 project, namely ASPIRE Erawan Prime, valued at 3.2 billion baht. By the end of 2020, the company has launched a total of 40 projects worth a total of 45.02 billion baht. As for sales, in the first 10 months as of October 31, the company has generated total sales of 27.3 billion baht.

In summary, the financial figures for the third quarter of 2020 show that the company generated total revenue from horizontal products in the condominium group (100% JV) and other businesses of 15.219 billion baht, growing by 140% compared to the same period in 2019, which had total revenue of 6.353 billion baht. The net profit was 1.451 billion baht, growing 135% compared to the third quarter of 2019, which had 618 million baht.

AP Thailand Group under the mission 'EMPOWER LIVING'  <\/span><\/em> fulfills every life goal with valuable and meaningful products and services.