AP Thailand Reports Q1/2023 Results: Total Revenue of 10.554 Billion Baht, Net Profit of 903 Million Baht, and Plans to Launch 12 New Projects in Q2

• AP Thailand, under the commitment of ‘A Better Life by Your Choice’, expresses gratitude for the trust and confidence from customers, allowing it to maintain its position as the number one company and brand, reflected in the strong stability of its Q1 results, the highest in the industry, with total revenue of 10.554 billion baht, an increase of 11% (YoY).
• AP's strong backlog reflects an understanding of customer insights, driving success through AP CODE – The Code of Living Quality, which combines discipline and deep customer understanding in every situation, resulting in continuous acceptance and transfer of ownership in its portfolio of single-family homes, twin houses, and townhomes, bolstered by 2 new projects: PLENO Future - Rangsit and PLENO TOWN - Thammasat - Rangsit, generating a total revenue recognition of 250 million baht.
• Ready-to-move-in condos prove the existence of Real Demand, with AP's condo segment creating positive momentum, especially with the transfer of the first 2 new projects of the year, ASPIRE - Itsaraphap Station and GOOD DAY - Sukhumvit 93, clearly reflecting that the condo market continues to thrive if brands can deliver products that meet quality of life needs alongside offering accessible pricing packages.
• Reinforcing trust by closing 6 projects in the first quarter, with a total value of 6.175 billion baht, reflecting the strong confidence consumers have in the AP brand, with the success of Sold Out sales proving the quality of life that meets real living needs.
• #APThai, the number one real estate company, is committed to delivering quality residential projects in every dimension, including confidence, care, and service, ensuring that every project in the AP group is the best choice in customers' minds. In Q2, the company is set to launch 12 new projects worth a total of 17.150 billion baht, covering all needs, including 9 new horizontal projects, along with the highlight of a joint venture condominium in the city center, ‘LIFE Sukhumvit - Rama 4’, and expanding AP standards to meet customer demands in the region through the ‘Apitown’ brand with 2 new projects (Saraburi and Hua Hin).
• Stay updated on all new projects from AP with single-family homes, twin houses, townhomes, and condos throughout 2026. Click https://www.apthai.com/th.

Mr. Ratchayut Nuntachotisophon, President of AP Thailand Public Company Limited, stated, “The real estate market today is not a field for the fastest runner, but for those who understand, maintain the rhythm, and stand strong. AP Thailand drives its business with a Long Game strategy, preparing the organization for long-term challenges based on the CODE OF IN-DEPTH UNDERSTANDING strategy. AP sees that there is still Real Demand in the market, especially among those buying for actual residence. However, when customers in certain segments face difficulties in accessing credit, what we do is not just present projects but to support them from the Pre-Finance stage to prepare and increase opportunities for customers to truly own a new home.

In addition to the commitment to design and develop projects, the intention to deeply understand customers, combined with a disciplined approach to business operations, is the key that builds customer confidence in over 200 quality residential projects under the AP group, both in Bangkok, the metropolitan area, and all regions across the country. This has resulted in AP achieving total revenue (100% JV) in the first quarter (Q1/2023) of up to 10.554 billion baht, an increase of 11%, with a net profit of 903 million baht, while maintaining strong financial stability with a net debt-to-equity ratio of only 0.64.

For over 35 years, AP Thailand has remained committed to delivering a good quality of life for Thais under the concept of ‘AP CODE – The Code of Living Quality’, which is the essential DNA driving the organization to grow steadily. In Q2/2023, the company is ready to reinforce its leadership in Living Quality through plans to launch a total of 12 new projects worth over 17.150 billion baht, covering single-family homes, twin houses, townhomes, condominiums, and expanding into new potential locations in Hua Hin and Saraburi to meet the needs of consumers across all segments more comprehensively.

Strengthening the horizontal portfolio with ‘AP CODE – The Code of Living Quality’ to decode customer insights.

For the movements of the horizontal business group of AP, which covers products such as single-family homes, twin houses, and townhomes, it continues to reflect significant growth potential, maintaining strong momentum in ownership transfers since the beginning of the quarter, reflecting customer trust. The main projects that contribute significantly to revenue include THE PALAZZO - Krungthep Kreetha, THE CITY - Ratchaphruek - Phra Nakhon, CENTRO - Bangna, THE CITY - Bangna 2, and CENTRO - Phetkasem - Bangkae.

At the same time, AP continues to develop new housing innovations through the launch of the Nature Architect series in the single-family home brands THE CITY and CENTRO, aiming to enhance Space Quality with the concept of Natural Intelligence, seamlessly connecting indoor spaces with the outside nature to meet the Hybrid Living lifestyle of modern families. Meanwhile, the townhome segment has launched Midtown Sathorn - Kalpaphruek 2, the first project to introduce the Foyer House concept with Double Height Connected functions, enhancing openness and creating a new dimension of usable space within the home.

Additionally, there are 2 new projects: PLENO Future - Rangsit and PLENO TOWN - Thammasat - Rangsit, which have begun transferring ownership this quarter, generating a total revenue of 250 million baht. Meanwhile, the PLENO TOWN project is also a key strategy to reach the Real Demand group in potential locations, building on successes from various past locations and reflecting AP's ability to develop products that accurately understand consumer behavior and purchasing power.

Meanwhile, condominiums in central locations near the BTS system, both completed and under construction, continue to receive positive responses, proving ‘Real Demand’ with quality.