Ananda Development Reports First Quarter Sales of Over <\/strong>3.979 Billion Baht, Exceeding Target by 17%<\/strong><\/span><\/span><\/p>

Total Transfers of <\/strong>3.059 Billion Baht and EBITDA of 225 Million Baht<\/strong><\/span><\/span><\/p>

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Ananda Development Public Company Limited, or ANAN, a leader in urban residential development and the top market player in condominium projects near BTS stations, has reported first quarter sales for the year 2021 exceeding the target by 17%, reaching 3.979 billion baht. This success is attributed to the strong ongoing demand for ready-to-move-in projects. The company has a backlog of over 14.265 billion baht at the end of the first quarter of 2021 to support its growth in transfers over the next three years. For the year 2021, the company aims for total transfers of over 16.008 billion baht and sales of 18.570 billion baht.<\/em><\/span><\/span><\/p>

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Mr. Sermsak Kwanpao, Chief Financial Officer of Ananda Development Public Company Limited, said, “Despite the new wave of COVID-19 outbreaks in January and March, which have broadly impacted the Thai economy, the company achieved satisfactory sales and transfer results in the first quarter of 2021, successfully closing 100% of sales in the Ideo Mobi Asoke project valued at over 3.2 billion baht. Additionally, the company continues to focus on its core business to enhance operational efficiency while continuously reducing operational costs, with selling and administrative expenses amounting to 381 million baht, a 17% decrease from the same quarter last year. In this first quarter, the company reported EBITDA from its core business operations of over 225 million baht.<\/span><\/span><\/p>

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In the first quarter of 2021, the company recorded total transfers of 3.059 billion baht, with foreign customer transfers remaining stable at 21%, similar to the previous year. Total sales reached 3.979 billion baht, exceeding the target by 17% compared to the target of 3.393 billion baht, driven by ongoing demand for real estate despite the COVID-19 pandemic.<\/span><\/span><\/p>

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The year 2021 is another year of constant adaptation to cope with changing circumstances and potential risks and uncertainties. The COVID-19 vaccine is a hope for both Thai and foreign citizens, enabling tourism to recover and increasing purchasing power from foreign customers, especially from China, who have high demand for purchases. This will help improve trends and confidence, and it is believed that as the situation begins to ease, everything will return to normal. For the business plan in 2021, the company still aims for total transfers of 16.008 billion baht and sales of 18.570 billion baht, while preparing to launch five new projects valued at over 24.422 billion baht in prime locations near BTS stations, including Thonglor, Surawong, Saphan Khwai, Sukhumvit 38, and Lamsali, with new design concepts to meet new lifestyle needs. In April, the company announced a collaboration with Bitkub to facilitate the use of cryptocurrency for purchasing homes and condominiums from Ananda, making it the first real estate development company in Thailand to offer customers increased convenience in using cryptocurrency for payments.<\/span><\/span><\/p>

 

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At the end of the first quarter, the company maintained cash reserves in joint venture projects exceeding 10 billion baht, supported by strong and continuous backing from leading financial institutions, and has various options for sourcing funds according to the situation. The company aims to maintain a net interest-bearing debt-to-equity ratio under a long-term target of 1:1. In May 2021, the company successfully issued subordinated debentures valued at 1 billion baht to repay the first tranche of subordinated debentures issued in 2016.<\/span><\/span><\/p>