“Origin Property” has showcased its Q2/2022 performance, achieving a record net profit of 1.155 billion baht, growing both QoQ and YoY, with a net profit margin exceeding 28% as the mega-project “Park Origin Thonglor” begins to transfer ownership as planned, and the housing business reaches an all-time high in pre-sales, ownership transfers, total revenue, and net profit. The company plans to pay an interim dividend of 0.15 baht per share, with the XD mark set for August 26.
The overall backlog remains strong at 37.588 billion baht, with the second half of the year poised to continue transferring ownership of the Park Origin family and The Origin projects, expected to support revenue targets of 17.5 billion baht. The management team is gearing up to drive the Origin Multiverse plan, appointing “Piti Pong Trai-nurak” as Co-CEO of the group, overseeing New Business, while “Piti Jarukamjorn” takes the CEO position at One Origin.

Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited (ORI) revealed that for Q2/2022 (April-June 2022), the company recorded total revenue of 4.102 billion baht and a net profit of 1.155 billion baht, marking a growth of 57% QoQ and 36% YoY, respectively. This is the highest quarterly net profit since the company's inception (New High), with a net profit margin of 28%, surpassing the industry average.

The net profit is attributed to the successful transfer of ownership in residential projects across both condominium and housing segments. The condominium segment includes a mega-project valued at 12 billion baht such as Park Origin Thonglor and The Origin Onnut, which began transferring ownership for the first time this quarter. Additionally, The Origin Ram 209 Interchange continues to transfer ownership from Q1/2022. Meanwhile, the housing business under Britannia Public Company Limited (BRI) has achieved all-time highs in pre-sales, ownership transfers, total revenue, and net profit, with four new projects recently starting ownership transfers.

Moreover, the stable performance and adaptability have kept both Thai and foreign investors interested in joint venture projects with the company. In Q2/2022, there were five new joint venture projects with partners from Japan, Hong Kong, and domestically, totaling 9.885 billion baht, including 1. A joint venture with Nomura Real Estate Development for the condominium project The Origin Play Sri Udom Station, 2. A joint venture with Lofis (Thailand) for two projects: Origin Plug & Play Sririndhorn Station and Britania Amata-Phanthong, and 3. Two projects with Tokyu Land Asia, including Alpha Bangna KM.19 and Alpha Rungsit, marking the group's first venture into warehouse development.

Due to the sustained growth, the company's board of directors has approved a proposal to the annual general meeting of shareholders to pay a dividend from retained earnings and the company's performance for the period from January 1 to June 30, 2022, at a rate of 0.15 baht per share, totaling no more than 368 million baht in cash dividends. The XD mark will be set on August 26, 2022, with the record date for shareholders entitled to dividends on August 29, 2022, and the dividend payment scheduled by September 13, 2022.

 

Mr. Pirapong further stated that for the second half of 2022 (2H/2022), the Park Origin Thonglor project will continue to transfer ownership as planned, while new projects, including Park Origin Ratchathewi and Park Origin Chula-Samyan, valued at a total of 7.6 billion baht, will begin ownership transfers. Both projects have an average backlog of 97% of their project value. The overall company backlog, including both JV and Non-JV projects, exceeds 37.588 billion baht, which is expected to significantly contribute to ownership transfers in the second half of the year, aligning with the revenue target of 17.5 billion baht.

“Consumer purchasing power in real estate is showing a continuous recovery compared to the COVID-19 situation over the past 1-2 years. Origin continues to prioritize location, quality, and understanding consumer needs, resulting in ongoing trust in projects and continuous ownership transfers,” Mr. Pirapong stated.

To ensure the robust and smooth execution of the Origin Multiverse growth plan, the company has appointed two senior executives to new positions: Mr. Piti Pong Trai-nurak has been appointed as Co-CEO of Origin Property Public Company Limited, jointly overseeing the Origin Group and driving new business related to long-term mega-trends, while Mr. Piti Jarukamjorn has been appointed as CEO of One Origin, overseeing the recurring income business, including hotels, serviced apartments, office buildings, and retail businesses, as well as leading One Origin to be listed on the Stock Exchange of Thailand.

Previously, Mr. Piti Pong Trai-nurak has been a key executive in the Origin Group driving the recurring income business and new business, including negotiating and developing partnerships with major business partners such as Nomura Real Estate Development, Tokyu Land Asia, and Ci:z Investment LLP, as well as partnerships with major South Korean real estate firm GS E&C, Hong Kong's Lofis, and domestic landlords like Boonpa 2020 and Asset Bloom. He has also developed partnerships in the healthcare service sector and joint ventures with JWD Info Logistics Public Company Limited in comprehensive industrial real estate. Meanwhile, Mr. Piti Jarukamjorn has over 19 years of expertise in real estate-related businesses and diverse skills that will help One Origin grow continuously.