Frasers Property Thailand 

Announces Year-End Results for 2020, Achieving Revenue Target of 20 Billion Baht 

Reinforcing Success of 'One Platform' 

A Comprehensive and Sustainable Real Estate Platform

  • Frasers Property Thailand continues to deliver strong performance amidst economic challenges in 2020, announcing a total revenue of 20,016 million Baht for the 12-month period (January-December 2020). The company is advancing its business under the 'One Platform' strategy to ensure stable and sustainable growth while addressing challenges and uncertainties in the business environment.
  • Enhancing business risk diversification through comprehensive real estate portfolio management covering residential, industrial, and commercial sectors, allowing Frasers Property Thailand to consistently generate revenue and cash flow over the past year.
  • Integrating three high-potential real estate groups into a single platform enables Frasers Property Thailand to manage operational costs and expenses more efficiently, resulting in a strong financial position that prepares the company for continuous investment or business expansion.
  • Additionally, the company announced a dividend payment of 0.60 Baht per share, an increase from the previous year's dividend of 0.46 Baht per share.

Frasers Property (Thailand) Public Company Limited, or “FPT,” is the first comprehensive real estate service provider in Thailand, achieving a revenue target of 20,016 million Baht for the year 2020. The company continues to advance its business under the 'One Platform' strategy, integrating corporate resources, knowledge, expertise, and experience from various real estate sectors to create stable and sustainable growth. This also strengthens the organization to face various challenges that may arise in the future.

Mr. Thanapol Sirithanachai, Chief Executive Officer of Frasers Property (Thailand) Public Company Limited, stated: “The integration of all business groups under the One Platform strategy has occurred at the right time and place. With a comprehensive real estate portfolio covering all three sectors, FPT can effectively diversify business risks and maintain a strong financial position with revenue from multiple sources, supporting the company’s readiness to face challenges and uncertainties in the business environment. This also enhances FPT’s strengths, making it stand out from other property developers in the country. We are confident that with the potential of our portfolio, combined with the organization’s management capabilities and efficient cost management, Frasers Property Thailand will continue to achieve success in 2021.”

Overall, in 2020, amidst economic challenges from the COVID-19 situation, FPT was able to maintain good performance and keep total revenue for the 12-month period (January-December 2020) steady at 20,016 million Baht, with a net profit of 2,978 million Baht, representing a 12.1% growth compared to the same period last year. This was due to having a diversified portfolio of various asset types, allowing for continuous cash flow generation and effective expense management, resulting in a cost reduction of 218 million Baht in the latest quarter. Consequently, in 2020, the company was able to declare a dividend of 0.60 Baht per share, an increase from the previous year’s dividend of 0.46 Baht per share.

The “Frasers Property Home” business segment recorded property sales revenue of 14,112 million Baht for the past 12 months (January-December 2020), a decrease of 8.9% compared to the previous year due to a higher rejection rate of 4% and a 30% drop in demand in the residential property market. However, Frasers Property Home has a total project pre-sale value of 31,400 million Baht, reflecting that the overall residential property market in the past quarter remains in good condition, even amidst the COVID-19 situation. Currently, Frasers Property Home ranks among the top 5 leaders in the residential business sector in the country, with a total of 60 high-quality residential projects in various locations and is progressing on 6 new projects. Once completed, the group will have a total of 66 high-quality residential projects across various locations, valued at 82,000 million Baht.

The “Frasers Property Industrial” segment recorded rental income of 1,755 million Baht for the 12-month period (January-December 2020). In the final quarter, asset sales worth over 2,343 million Baht were made to the FTREIT trust. Overall, Frasers Property Industrial continues to benefit from the COVID-19 situation, which has accelerated growth for logistics and supply chain service providers related to e-commerce, as consumers increasingly turn to online shopping due to travel restrictions, resulting in an occupancy rate of 83% as of December 31, 2020. Additionally, the group has seen positive responses from manufacturers of leading global brands looking to relocate their production bases, with expectations to finalize contracts once the COVID-19 situation stabilizes.

The “Frasers Property Commercial” segment reported revenue of 874 million Baht for the 12-month period (January-December 2020). As of December 31, 2020, the overall occupancy rate of managed assets was over 90%. The COVID-19 situation has had minimal impact on the office building business segment, as the main tenants are leading international companies and top-tier firms in Thailand with stable financial positions.

Furthermore, Frasers Property Commercial continues to implement measures to prevent the spread of COVID-19, enhancing safety in the Samyan Mitrtown shopping center and all office buildings within the group by enforcing high-standard safety measures, utilizing touchless technology to avoid contact, strictly maintaining social distancing, and increasing communication with stakeholders to raise awareness and reinforce safety measures.

 

Financial Performance for the 12-month period (January – December)

 

Financial Performance

12-Month Period 

(January - December)

  

2020

(Million Baht)

  

2019

(Million Baht)

  

Change

(Million Baht)

  

Change

(Percentage)

Y-o-Y

Total Revenue

20,016

20,522

-506

-2.5

- Revenue from Property Sales

14,112

15,382

-1,270

-8.3

- Rental and Service Income

2,630

2,791

-161

-5.8%

- Other Income

3,274

2,349

925

39.4%

Net Profit

2,978

2,657

321

12.1

 

Financial Performance

Financial Performance

Calendar Period

Q4/2020 (October-December)

(Million Baht)

Total Revenue

4,150

- Revenue from Property Sales

3,054

- Rental and Service Income

574

- Other Income

522

Net Profit

446

 

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About Frasers Property (Thailand) Public Company Limited

Frasers Property (Thailand) Public Company Limited, or “Frasers Property Thailand,” is a publicly listed company on the Stock Exchange of Thailand with the stock symbol “FPT.” It is part of the Frasers Property Group following the acquisition of Golden Land Property Development Public Company Limited, or “GOLD,” making Frasers Property Thailand the first comprehensive real estate developer in Thailand with a platform covering residential, commercial, and industrial properties.

Additionally, Frasers Property Thailand is a sponsor and manager of the Frasers Property Industrial Real Estate Investment Trust (FTREIT), currently the largest industrial and logistics trust in Thailand, and also sponsors and manages the Golden Venture Real Estate Investment Trust (GVREIT) for investment in commercial real estate. FPT, FTREIT, and GVREIT are all publicly listed companies and trusts on the Stock Exchange of Thailand.

For more information, please visit www.frasersproperty.co.th.