• Sansiri closed the year 2023 strongly with a net profit of 4,513 million baht, securing the top position in the real estate sector.
  • Moving forward into 2024 with an aggressive plan, launching new projects worth 51,000 million baht, confident in a strong foundation aiming for 10% growth.
  • Brokerage groups are cheering for impressive dividends; the board recently approved a dividend payment for the second half of the year at 0.08 baht per share, totaling 0.13 baht per share for the entire year, reflecting a Dividend Yield of 9.5% (based on the closing price at the end of January 2024), making it one of the leading real estate companies with consistently high dividends over the years.

Mr. Vicharn Wiriyaput, CEO of Sansiri Public Company Limited (SIRI), a leading real estate company in Thailand, stated, "Sansiri has effectively achieved its operational results in 2023, with a net profit of 4,513 million baht, the highest in the real estate sector amidst fierce competition. This reflects that Sansiri can maintain stable growth, with total revenue of 34,395 million baht and total sales of 51,000 million baht (51% from horizontal projects and 49% from condominiums), while transfer value reached 36,700 million baht."

In 2023, Sansiri proved its status as "Number 1" in the real estate sector with outstanding performance in all aspects, both in generating the highest profits and efficiently managing costs, reflected in both Gross Profit Margin and Net Profit Margin through strict control of selling and administrative expenses (SG&A). In the fourth quarter, newly completed condominiums bolstered transfer strength, with projects in key cities like Mekin House and D Condo Campus Khon Kaen achieving 60-70% transfer value, alongside successes in Phuket with projects like The Base Bukit, Sethasiri, and Saransiri Koh Kaew, laying a solid foundation for significant growth in 2024.

This success also includes financial discipline, as Sansiri maintained a suitable Debt-to-Equity Ratio (D/E Ratio), gaining trust from financial institutions for continuous support in both Pre-finance and Post-finance. The company has high liquidity exceeding 25,000 million baht, sufficient to support business operations and repay bonds immediately without relying on new bond issuance. Additionally, it is committed to creating value for shareholders through consistent dividend payments. Recently, the board approved a dividend payment for the second half of the year at 0.08 baht per share (with the record date for shareholders entitled to dividends on March 18 and payment on May 20). Including the interim dividend of 0.05 baht paid earlier, the total annual dividend is 0.13 baht per share, reflecting a Dividend Yield of 9.5% (based on the closing price at the end of January 2024), making Sansiri one of the leading real estate companies with consistently high dividends over the years.

The overall Thai economy this year shows significant signs of recovery due to the collaboration between fiscal policies from the new government accelerating the foundation for economic drive and monetary policies after the Monetary Policy Committee (MPC) decided to lower the policy interest rate by 0.25% to 1.00% per annum, effective February 25. These supportive factors are crucial in reducing financial costs and boosting confidence among both Thai and foreign investors, propelling GDP growth to its full potential and sustainable stability. Importantly, Sansiri anticipates that the real estate market will begin to recover from the high purchasing power segment (High Net Worth), thus planning to aggressively launch 33 new projects worth a total of 51,000 million baht for residential purposes, focusing on the Premium and Medium segments to target customers who are financially prepared and unaffected by household debt, with 100% land readiness and brand strength. We are confident in achieving sales targets of 48 billion baht and transfer targets of 39 billion baht, aiming for continuous growth of 10% in both profits and transfers to maintain market leadership, provide returns to shareholders, and continuously support the four pillars (customers, employees, partners, and society)," Mr. Vicharn concluded.