Central Pattana Public Company Limited, the leading real estate company in Thailand focused on sustainability, encompassing Central shopping malls, residential projects, office buildings, and hotels nationwide, has announced record-breaking performance for 2024 across all business segments.

Ms. Walaya Chirathivat, Managing Director and CEO of Central Pattana Public Company Limited, stated, "The record-breaking performance in 2024 across all dimensions, including revenue, net profit, shareholder returns, dividend payments, and new highs in every business segment, proves that Retail-Led Mixed-Use Development is the right strategy for creating sustainability and success, allowing both Retail and Non-retail businesses to grow robustly alongside each other. The shopping malls serve as the core that connects with other main businesses, including residential, hotel, and office sectors, all working together as 'The Ecosystem for All', a strong and sustainable system that benefits and fosters growth for all sectors, including customers, partners, shareholders, employees, society, and communities together."

Ms. Naparat Sriwanwittaya, Chief Finance, Accounting and Risk Management Officer of Central Pattana Public Company Limited, mentioned, "The 2024 performance of our company has shown excellent growth across all business segments, including shopping malls, residential projects, office buildings, and hotels nationwide. We reported a record-high financial statement for 2024 with total revenue of 51,843 million baht and a net profit of 16,729 million baht, growing 11% from the previous year, while providing a remarkable 15% return to shareholders and announcing a record-high dividend of 2.1 baht per share*. Our strong financial position allows us to continue investing in growth and delivering high returns to shareholders, reflecting the company's long-term vision of conducting business sustainably, with continuous investment, financial stability, good financial discipline, and effective business strategies that yield returns for all stakeholders." (*Figures are for presentation and pending approval from shareholders)

Retail-Led Mixed-Use Development drives all business segments to new highs, defying market challenges.
• Retail sales have grown, with a significant increase in shopping mall traffic and tourists, reinforcing our position as a Top Retail Destination, a comprehensive hub for global brands. The company has instilled confidence in tenant brands, encouraging them to expand their businesses alongside Central shopping malls nationwide, resulting in top-ranking sales for tenant brands. Our commitment to being a festive landmark destination has led to successful campaigns across all branches throughout the year, attracting over 500 million visits to Central shopping malls nationwide and drawing more than 67 million tourists annually. More than half of the tourists entering Thailand, including those from China, Russia, Saudi Arabia, Malaysia, and various countries worldwide, must visit Central shopping malls, resulting in double-digit traffic growth for Tourist Malls nationwide and the successful opening of two grand mixed-use projects, Central Nakhon Sawan and Central Nakhon Pathom, which received overwhelming responses, achieving record highs in residential, office, and hotel businesses.

Non-retail business continues to grow, achieving the best performance alongside record-high retail revenues.
• Residence houses and condominiums have soared against the real estate market: condominiums adjacent to Central shopping malls, such as Escent Nakhon Sawan and Escent Nakhon Pathom, have sold out rapidly, marking growth amidst challenges, contrary to the overall real estate market.
• Office occupancy rates remain strong at 90% (as of the end of 2024): offices adjacent to shopping malls provide the best comprehensive living solutions, with all 10 locations around Bangkok and centralwOrld Offices in the city center being highly popular.
• Hotel generates New Record revenues, strengthening mixed-use projects: led by Hilton Pattaya, achieving record-high room rates, average revenue per room, and overall revenue, while Centara Hotels in Korat, Ayutthaya, Udon, and Ubon have all performed excellently, including the launch of the latest brand, Hilton Garden Inn Rayong, located next to Central Rayong, the largest lifestyle destination in the province.

Additionally, there are four positive macroeconomic factors contributing to business growth:
1) Increased public budget disbursement, especially for investment in various projects.
2) Continuous growth in the private sector, both in consumption and investment.
3) Recovery of the tourism sector and related industries.
4) Expected continuous growth in exports in 2025 and projected consumer spending growth of 3.3% from 2024.

Central Pattana is confident in the positive economic outlook and continues to invest according to its business plan, aiming to expand projects in various areas to contribute to the development and promotion of economic growth across all regions of Thailand. For 2025, the company is ready to proceed with a strong management strategy and financial position, fostering growth and long-term investment plans to create future growth, preparing to launch the world-class mixed-use project “Central Park” for both shopping malls and office buildings, and the “Central Krabi” project to serve as a new landmark that meets all dimensions and enhances the potential of a world-class tourist city.

As of the end of Q4 2024, Central Pattana manages a total of 42 shopping malls (40 Central shopping malls - 16 projects in Bangkok and its vicinity, 23 projects in other provinces, and 1 project in Malaysia, 1 Esplanade shopping mall, and 1 Mega Bangna shopping mall), 15 community malls, with a total net leasable area of 2.3 million square meters. Additionally, it manages 37 food courts, 10 office buildings, 10 hotels, and 43 residential projects, both horizontal and vertical.

Central Pattana reaffirms its position as a global leader in sustainable organizations, pursuing the goal of becoming Net Zero by 2050, ranking in the Dow Jones Best in Class Indices among real estate companies out of a total of 244 companies worldwide, and being a member of the DJSI World Index for the 7th consecutive year and the DJSI Emerging Market for the 11th consecutive year. The company has also initiated innovations in Finance & Sustainability, being the first Thai real estate company to issue ‘Green Bonds’ and ‘Sustainability-Linked Loans’, while achieving a sustainable stock standard with an SET ESG Rating of ‘AAA’.

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