• AP Thailand, under the promise of "A Better Life by Your Choice," closed the year 2023 with a smile, celebrating success across all dimensions, achieving record sales of 51.39 billion baht and total revenue exceeding 48.76 billion baht with a net profit of 6.05 billion baht.
  • Identifying 2024 as the year of authenticity, fully prepared in 5 dimensions: cash flow management – diverse product portfolio – people management, organizational structure, precise processes – business partnerships – supply chain management.
  • Ready to continue leading under the strategy "EMPOWER TOGETHER" with plans to expand the product portfolio across Thailand to 212 projects, aiming to deliver innovative spaces for a better life by choice, ensuring that 'every area in AP homes' grows alongside everyone.
  • Financial stability is strong, ranking among the best in the industry, maintaining a net debt-to-equity ratio of no more than 0.79, confident in having sufficient liquidity to support long-term business.
  • For 2024, the sales target is 57 billion baht, with a revenue recognition target of 53.7 billion baht.
  • Highlighting 48 new projects valued at 58 billion baht, covering all product portfolios:
    single houses, twin houses, townhomes, and condominiums in Bangkok and new provinces
    such as Songkhla, Suphanburi, and Rayong.
  • The single house business group aims to increase market share in the Super Luxury segment priced at
    100 million baht by developing the THE PALAZZO brand into luxurious mansions in a new context, offering more than just a residence but a kingdom of your choice with usable space exceeding
    1,000 square meters in 2 locations: Bangkok Kritha and Pinklao.
  • Continuing the success of the 3-story and 2-story townhome leader with the best vertical living space concept, aiming for a new challenging goal to dominate the 1 market in 3-story and 2-story twin houses, with the AP twin house positioning as a home that allows you to expand your space to fit every happiness.
    Through 3 brands: Baan Klang Muang Classe – Baan Klang Muang The Edition
    – Grand Pleno     featuring a width of up to 14.7 meters, starting at 3.19 million baht.
  • The condominium business group is smiling at the rebounding market, reaffirming the stance of starting the life you want with AP condominiums, offering spaces for life by choice with 6 new condominiums, highlighting LIFE Chareonkrung-Sathorn and ASPIRE Huai Khwang, set to launch in the second quarter, along with 3 ready-to-move-in condominiums:
    LIFE Phaholyothin-Ladprao, LIFE Rama 4-Asoke, and ASPIRE Ratchayothin.
  • Stay updated on all new projects from AP, including single houses, twin houses, townhomes, and condominiums throughout 2024 by clicking https://apth.ly/APNewHome2024.

Mr. Witakarn Chantawimon, Deputy Managing Director of Corporate Strategy and Innovation at AP Thailand Public Company Limited, stated that the overall Thai economy in 2024 still faces many challenges and is expected to be another difficult year due to various factors that continue to impact from the previous year, including the global economic system affected by geopolitical conflicts and the confidence in the Thai economy. Therefore, business operations this year must remain cautious, and the most important thing to ensure the organization moves forward smoothly amid economic turbulence is maintaining strong financial stability through strict financial discipline to achieve sufficient liquidity to support long-term business. As of the end of 2023, we maintained a net debt-to-equity ratio of
0.79, which is something we have prioritized at AP and is a key factor in our success across all dimensions.

“This year is the year of authenticity; companies that will continue must be prepared in 5 dimensions:

1) Cash flow management that affects the stability and credibility of the organization. We believe that today we are strong, financially stable, and have sufficient liquidity.
2) Diverse product portfolio that covers every market segment.
3) People – Structure – Process management of people, organizational structure, and precise working processes to support quick adaptation to changes.
4) Having business partners with a shared vision to drive the business towards being number one.
5) Supply chain management that supports continuous business growth according to development and project delivery plans.”

2024 AP EMPOWER TOGETHER: Continuing to Lead Together

Mr. Witakarn Chantawimon, Deputy Managing Director of Corporate Strategy and Innovation at AP Thailand, stated that this year the company is ready to continue leading under the strategy EMPOWER TOGETHER with all business groups, including single houses, townhomes, twin houses, and condominiums, aiming to deliver innovative spaces for a better life by choice, ensuring that 'every area in AP homes' grows alongside everyone.

In 2024, the company aims to have AP projects ready for sale across the country, totaling 212 projects
to maintain its position as the number one in the residential real estate development industry in terms of sales, revenue, and profit. Last year, the company achieved sales of up to 51.39 billion baht, with total revenue from horizontal products, condominiums (100% JV), and other businesses reaching
48.76 billion baht and a net profit of 6.05 billion baht.

The goal of diversifying the product portfolio across Thailand with 212 projects includes launching 48 new projects valued at 58 billion baht, consisting of 15 single house projects valued at 23 billion baht, 23 townhome and twin house projects valued at 19.3 billion baht, 6 condominium projects valued at 12.5 billion baht, and 4 provincial projects valued at 3.2 billion baht, along with 164 ongoing projects, which will be key to generating continuous revenue (cash inflow).

Currently, the company's financial stability is considered very strong due to strict financial discipline and effective financial planning and management, resulting in excellent liquidity sufficient for stable long-term growth and the ability to access various funding sources, including: 1. A money market ready to welcome the company, which at the beginning of the year completed the repayment of a 2.5 billion baht bond as scheduled, and at the same time, our new bond issuance of 3.5 billion baht received overwhelming response (over subscription); 2. An available credit line from financial institutions amounting to 12.7 billion baht; 3. Investment funds from business partners like Mitsubishi Estate Group through registered capital of subsidiaries amounting to 12.619 billion baht for condominium development in Thailand with AP; and 4. Revenue from property sales and transfers (cash inflow) diversified across over 200 projects, with a revenue recognition target this year of 53.7 billion baht, which will gradually come in continuously. All of these are significant advantages that will support the company's operations to achieve its goals to the fullest potential.

Increasing market share in the Super Luxury single house segment

In 2024, the single house business group plans to launch a total of 15 new projects valued at 23 billion baht, reaffirming the stance of FUNCTIONAL IS BEAUTIFUL or homes that understand life, which is a crucial DNA driving AP single houses to grow continuously. This year’s highlight, in addition to focusing on designing living spaces for everyone to grow together in AP single houses, is that the single house business group plans to increase market share in the Super Luxury segment priced at 100 million baht by developing the THE PALAZZO brand into luxurious mansions in a new context, offering more than just a residence but a kingdom of your choice with usable space exceeding 1,000 square meters in 2 locations: Bangkok Kritha and Pinklao, and the Baan Klang Krung brand, single houses in the city in the Sathorn area, all set to launch in the second half of this year, along with a focus on developing house designs in the brands THE CITY, CENTRO, and MODEN, which are core brands that have been successful for a long time.

Aiming to lead the twin house market in the city

For the townhome and twin house business group, in 2024, there are plans to launch a total of 23 new projects valued at 19.3 billion baht. In addition to maintaining leadership in the 3-story and 2-story townhome markets, this year the company is ready to continue the success of developing townhomes under the best vertical living space concept towards a new, more challenging goal of becoming the leader in the 3-story and 2-story twin house market in the city, under the stance of delivering innovative living spaces that allow you to expand your area to fit every happiness.

With 3 brands in the group: Baan Klang Muang Classe – Baan Klang Muang The Edition – Grand Pleno
with a maximum house width of 14.7 meters, offering options to expand happiness in both 3-story twin houses
with areas of 35.50 - 46.40 square wah and usable space from 218.87– 298 square meters, and 2-story twin houses
with areas of 35.10 – 44.83 square wah and usable space from 133.45 – 200.2 square meters, starting at 3.19 million baht.

In the plan to launch 23 new projects, there will be 7 twin house projects in locations such as:
Baan Klang Muang Classe Ratchada-Ladprao / Baan Klang Muang The Edition Yothin Phatthana / Baan Klang Muang The Edition Bangna / Grand Pleno Watcharapol-Jatujak 10 / Grand Pleno Chaeng Watthana-Ratchaphruek / Grand Pleno Ram Inthra-Ring Road 2 / Grand Pleno Suksawad 64, and the remainder will be in the form of 3-story and 2-story townhomes.

AP condominiums continue to grow, benefiting from the rebounding market

For the condominium business group, it has shown continuous growth, and the overall market today is recovering steadily. It is believed that soon the Thai condominium market will return to its previous state before facing the crisis of the pandemic.
In the past year, the AP condominium business group achieved significant success in both sales and revenue recognition, generating sales of up to 17.908 billion baht, or a growth of 57% compared to the previous year's sales. The total revenue from condominium products (100% JV) has also continuously grown to 13.184 billion baht, reflecting the recovery of demand and customer confidence in AP condominiums.

In 2024, the condominium business group will continue to operate under the same stance: start the life you want with AP condominiums to deliver spaces for life that everyone can choose. The group is preparing to launch 6 new condominiums valued at 12.5 billion baht, with the LIFE and ASPIRE brands being key in project development, featuring
LIFE Chareonkrung-Sathorn and ASPIRE Huai Khwang as the highlights of the year. Additionally, it is preparing to recognize revenue from the transfer of 3 ready-to-move-in condominiums worth a total project value of over 11.5 billion baht, including
LIFE Phaholyothin-Ladprao, LIFE Rama 4-Asoke, and ASPIRE Ratchayothin.

Summary of the business plan for 2024

AP Thailand Public Company Limited aims to expand its product portfolio across Thailand in 2024, totaling 212 projects, including 48 new development projects valued at approximately 58 billion baht, consisting of 15 single house projects valued at 23 billion baht, 23 townhome and twin house projects valued at 19.3 billion baht, 6 condominium projects valued at 12.5 billion baht, and 4 provincial projects valued at 3.2 billion baht, along with 164 ongoing projects, which will be key to generating continuous revenue (cash inflow) with a sales target of 57 billion baht and a total revenue target of 100% JV at 53.7 billion baht.

Summary of financial performance

In 2023, the company achieved the highest sales in the industry at 51.39 billion baht, with total revenue from horizontal products, condominiums (100% JV), and other businesses reaching 48.76 billion baht, a net profit of 6.05 billion baht, and a net debt-to-equity ratio of 0.79, in line with the policy of managing the net debt-to-equity ratio at a level not exceeding 1.

As of February 11, 2024, the company has revenue awaiting recognition valued at 37.191 billion baht.

Stay updated on all new projects from AP, including single houses, twin houses, townhomes, and condominiums throughout 2024 by clicking https://apth.ly/APNewHome2024.