Bangkok--3 Mar--Siam PR Consultant
Ananda Development PCL announces record annual profits, revenue and presales for 2013 and 2014 to be a year of maintaining its mass transit condo market leadership.
Ananda Development Public Company Limited announces record annual profits, revenue and presales for 2013 and announces its business plan for 2014 as one that will maintain its leadership in mass transit condominiums:
Revenue for the full year of 2013 was 9,227.5 million Baht, an increase of 79.6% over the full year of 2012. Profit for the full year was 811.5 million Baht, a turnaround from a loss in 2012 of 199 million Baht.
In the 4th quarter of 2013 the company received 6,104.6 million Baht in revenue and earned 998.9 million Baht in net profit. This represents an increase of 355% in revenue compared to the same period of 2012. The company posted a net profit of 998.9 million Baht for the 4th quarter, an increase of 1,706% from the same period of last year.
The company generated 21,083 in pre-sales for the year, a record for the company and an increase of 138% over 2012, which was itself a record year for the company.
The company ended the year with a backlog of 19,854 million Baht, another record for the company, and due to transfer over the next 3 years.
Mr.Chanond Ruangkritya, President and CEO of Ananda Development PCL, stated that, “Ananda Development is pleased to have achieved record annual profits and record single quarter profits in the fourth quarter. Transfers in the fourth quarter were affected by the political and economic situation but demand from customers was strong enough that we achieved the highest single quarter revenue in company history. Strong financial discipline has ensured that despite much higher than expected pre-sales for the year, and the costs associated with those sales, we maintained a net margin of 8.8%.”
Commenting on the level of presales for the year, Mr.Chanond, stated, “By achieving 21,083 million Baht in pre-sales for the year we exceeded all our expectations and demonstrated the strong demand for affordable, quality units near mass transit stations. This figure was a record for Ananda and the 11.5 billion in presales generated in the 3 weeks between September 29th and October 17th shows what level of sales are achievable when we’re able to offer units to the market.”
He added, “Our customers are not showing any sign of financial stress despite the economic slowdown. Over 35% pay for their units entirely in cash and the percentage of our customers who were unable to transfer due to failing to get a mortgage was 0.16% for the year.”
Mr Chanond, said, "We are delighted to have achieved record profits for the year despite the economic and political headwinds and pleased to have delivered to shareholders record results in our first year as a publicly listed company. Ananda is the current leader in Bangkok mass transit living and according to BLS Research, we are now one of the five largest sellers of real estate in the nation.”
He continued, “Despite this explosive growth we have maintained our financial discipline and maintained our net interest bearing debt to equity to only 0.3:1 at the end of the year.”
He added, “As well as the record results the company has made significant additional progress during the year. We completed a joint venture with Japan’s largest real estate company, Mitsui Fudosan, and the first project launched as part of that joint venture sold out at launch. We successfully launched our first value brand Elio projects during the year, broadening the market for mass transit living with very competitively priced units. We opened our own construction company, Helix, which is able to help us better manage production and also provide a platform for the adoption of advanced production techniques. We have increased the use of pre-cast in housing and condominiums and continue to advance the progress of optimized sequencing as a method of speeding up construction and reducing defects. We also built up our internal management resources to be able to handle the growth and the larger size of the company and we begun implementation of many projects that improve the internal infrastructure of the company.”
On the subject of the 2014 Business Plan he explained, “As the political and economic situation is still uncertain we will begin the year with a cautious plan, although ready to increase if we see signs of rebound. Our revenue target for 2014 is 9,050 million Baht, approximately the same as we achieved in 2013. This revenue will be developed much more evenly through the year than in 2013, where nearly two thirds of the whole year’s revenue was generated in the 4th quarter. We continue transferring the four already completed Ideo Mobi buildings in the first two quarters, we build and sell landed housing in all four quarters. The first Elio project completes and begins transfer in the second quarter and the second Elio project and Ideo Sathorn-Thapra begin transfer in the fourth quarter. Our backlog to be transferred in 2014 represents 70% of our revenue target leaving only an additional 2,690 million Baht to be sold throughout the year to achieve our revenue target.”
He continued, “Our total presales target for the year is 9,000 million Baht. This will be generated from sales from previously launched projects as well as from the 14,950 million Baht in 4 new condominium projects we will launch this year.”
He concluded, “Our cash flow for the year is strong and as a matter of company policy we maintain a cash balance of at least a billion Baht at all times. We have continued to have strong support from our banks and have multiple options in place to fund the cash needs of the company through the year depending on how the situation evolves.”
For further information, please contact or PR Department Ananda Development Public Company Limited
PR Consultant Kulnaree Meekaew (Mint) PR Manager
Nunthaporn Boon-Long, Somruethai Polpala Email :
[email protected]
Siam PR Consultant Company Limited Tel : 0 2697 3300 Ext. 3208
Tel. 0-2693-7835-8 Ext. 20, 21 Orawan Rattana (Preaw) PR Officer
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