FPT announces its financial results for the fiscal year 2022, with profits reaching 2,465 million, a growth of 57.3% compared to fiscal year 2021 (Oct 2021 - Sept 2022). This growth comes as the residential business adjusts its strategy to target the mid-to-high market segment with strong purchasing power, while also advancing innovations to create value-added services. The factory and warehouse business expanded its portfolio to 3.4 million square meters, and the commercial sector began recognizing revenue from the Silom Edge project, benefiting from the recovery of the hotel industry. Additionally, the company has effectively managed costs across all business sectors and plans to pay a dividend of 0.43 baht per share, with the XD mark set for November 22, 2022. This reinforces FPT's strong performance, maintaining its corporate credit rating at 'A' with a 'Stable' outlook for the second consecutive year. Tris Rating anticipates that all business sectors will experience various positive factors from the full economic recovery post-COVID-19, preparing to unveil plans for different business groups continuously.

 

Mr. Thanapol Sirithanachai, Chief Executive Officer of Frasers Property (Thailand) Public Company Limited, the first comprehensive real estate developer in Thailand, revealed that the company's performance in fiscal year 2022 (Oct 2021 - Sept 2022) recorded total revenue of 16,347 million, a 4% increase from fiscal year 2021, with a net profit of 2,465 million, reflecting a growth of 57.3% and a net profit margin of 15.1%. The performance of all three business groups, including residential real estate, industrial real estate, and commercial real estate, significantly contributed to this year's profit growth.

For the residential real estate sector, 18 projects were launched in fiscal year 2022 (Oct 2021 - Sept 2022) with a total project value exceeding 20,000 million. The key strategy was to expand the market to target customers in the mid-to-high segment, which has strong purchasing power, alongside increasing innovations that add value to homes and common areas, such as the Frasers Clean & Cool Air technology that helps ventilate homes and EV Charger systems. This resulted in total revenue for the fiscal year of 11,420 million, with a gross profit margin rising from 25% in fiscal year 2021 to 32% in fiscal year 2022. Notable brands and projects that received excellent responses this fiscal year include The Grand and Grandio.

In the industrial real estate sector, the portfolio of factory and warehouse space under management increased from 3.01 million square meters at the end of fiscal year 2021 to 3.4 million square meters at the end of fiscal year 2022 (Sept 30, 2022). Strategic investments were made to increase the proportion of investments in projects in Indonesia, strengthening rental income. The average occupancy rate for the fiscal year was as high as 85%, with additional income from asset sales to the REIT, resulting in total revenue in the industrial real estate sector of 3,198 million.

Meanwhile, the commercial real estate sector has shown continuous recovery from the easing COVID-19 situation, the reopening of the country, and economic stimulus policies, leading to hotel revenues growing over 100%. Additionally, the gradual opening of various phases of the Silom Edge project during the fourth quarter of fiscal year 2022 (July - September 2022) has allowed the company to continuously recognize new revenue. Overall, the office rental business has maintained a high occupancy rate of over 90%.

“We prioritize parallel growth across all three business sectors to create sustainable growth in all economic conditions. At the same time, we are committed to improving cost management efficiency. In fiscal year 2022, the company reduced total costs by 3%,” said Mr. Thanapol.

For fiscal year 2023 (Oct 2022 - Sept 2023), the overall economic outlook is expected to recover significantly, the best in several years, due to the easing of the COVID-19 situation, relaxation of measures, and economic stimulus policies. This will positively impact the company's plans for expanding factories and warehouses both domestically and internationally, as well as the purchasing power in the housing sector, travel, and office rental demand, which are expected to continue recovering from the second half of calendar year 2022. The company has plans to sustainably and continuously expand all three business sectors in line with these positive factors.