ASW has announced its Q1/2025 financial results, with total revenue of 1.804 billion baht and a net profit of 201 million baht, supported by the transfer of horizontal housing and condominium projects. The company has a solid foundation after achieving pre-sales of 8.32 billion baht, exceeding 43% of its annual sales target. The backlog stands at 30.636 billion baht, with continuous revenue recognition expected. The real estate market remains challenging, despite support from government measures, and the company is monitoring the impacts of U.S. import tax policies and trade wars, focusing on maintaining cash flow and timely project delivery in Q2/2025.

Mr. Krungchet Wiphanpong, CEO of Asset Wise Public Company Limited (ASW), a leading real estate developer focused on lifestyle under the concept of "Happiness Designed for You" or "We Build Happiness," revealed that in the first quarter of 2025 (January-March 2025), the company achieved total revenue of 1.804 billion baht, a growth of approximately 3% compared to the first quarter of 2024, with a net profit of 201 million baht. Key revenue contributors included horizontal housing projects and newly completed condominium projects, specifically two projects: Kave COCO Bangsaen, a campus condominium near Burapha University valued at 2 billion baht, and Atmoz Season Ladkrabang, a condominium in Ladkrabang valued at 1.1 billion baht.

“In the first three months, ASW achieved sales of over 8.32 billion baht, a 33% increase from the previous year, representing 43% of the annual sales target of 19.5 billion baht. This performance is satisfactory despite the challenging market conditions and external factors. Additionally, the company has a backlog of over 30.636 billion baht as of the end of Q1/2025, which will be gradually transferred to recognize revenue until 2027, providing a strong foundation for ASW's continued growth,” Mr. Krungchet stated.

Mr. Krungchet further stated that starting from Q2/2025, the real estate market will benefit from government measures to reduce property transfer registration fees from 2% to 0.01% and mortgage registration fees from 1% to 0.01% for transactions and appraised values not exceeding 7 million baht. The relaxation of LTV criteria allows for 100% mortgage loans for all contracts until June 30, 2026, which will enhance access to credit and stimulate consumer transfer decisions. Recently, the policy interest rate was also reduced by 0.25% from 2.00% to 1.75% per annum. Currently, the company has ready-to-move condominium and housing projects valued at a total of 9.968 billion baht, which are expected to benefit from these positive factors. However, the market still faces challenges from various factors, such as the rejection rate of financial institutions, fragile consumer purchasing power, U.S. import tax policies affecting Thailand's export sector, and the impacts of the U.S.-China trade war, which need to be closely monitored.

For business operations in Q2/2025, the company will continue to develop projects to deliver quality housing to customers on schedule while managing liquidity and maintaining strong cash flow. ASW aims to transfer ownership of housing projects according to its plans, including newly completed projects in the first quarter that will continue to transfer ownership, as well as two new projects expected to recognize revenue in Q2/2025: Atmoz Palacio Ladprao-Wanghin, a low-rise condominium near three BTS lines valued at 1.75 billion baht, and Atmoz Canvas Rayong, a low-rise condominium adjacent to Central Rayong valued at 1.25 billion baht.

In 2025, the company plans to transfer ownership and gradually recognize revenue from a total of 7 newly completed projects valued at 14.05 billion baht. A key highlight is the large-scale luxury condominium project, THE TITLE Legendary Bang-Tao, valued at 4.5 billion baht, developed by Rompho Property Public Company Limited (TITLE), a subsidiary that is nearing completion and will significantly contribute to revenue recognition in the second half of the year. During the peak season from late Q3/2024 to Q1/2025, the company achieved record sales of 8.661 billion baht, a 23% increase compared to the previous peak season, reinforcing the success of its risk diversification strategy and expanding project development to other potential locations beyond Bangkok and its suburbs.

“We have projects ready for continuous ownership transfer, but we remain cautious in our operations and closely monitor global economic conditions, the Thai economy, and consumer behavior to be ready to adjust our operational strategies accordingly. We believe that flexibility and readiness to adapt are key to conducting business amid uncertainty, and we are confident that ASW will continue to drive revenue and sales according to our targets,” Mr. Krungchet concluded.

Asset Wise Public Company Limited (ASW) is engaged in real estate development, focusing on high-rise and horizontal housing projects in potential locations under the concept of "Happiness Designed for You" or "We Build Happiness." The company has developed over 80 projects, including condominiums and housing estates, under various brands designed to create happiness suitable for every lifestyle, including KAVE, ATMOZ, MODIZ, ESTA, THE ARBOR, THE HONOR, and the TITLE brand under Rompho Property Public Company Limited, with a total project value exceeding 132.704 billion baht. This includes 24 completed and ready-to-move projects and 22 projects currently open for sale and under development. As of the end of Q1/2025, the company has a backlog valued at over 30.636 billion baht.