Bangkok--Mar 1--Kith and Kin
Hemaraj Land And Development Public Company Limited, “The World Class
Developer in Thailand” of industrial estates, utilities, SME factories, property
and services, announced its financial results for the year ended December 31,
2004.
For the Year 2004, Hemaraj Net Income was Baht 951 million with Baht
628 million being from operations and significantly improving over last year.
It was noted that Total Net Income for the Year 2003 of Baht 1383.3 million
included non-operating and non-recurring earnings of net Baht 1,223.3 million
realized through retired bonds, gain from securities, foreign exchange and
others.
Total Revenue was Baht 3,733.8 million, an 82% increase compared with
Baht 2,050.4 million in 2003. Total Operating Revenue from core businesses was
Baht 2,413.9 million versus Baht 1,529.6 million in 2003, or a 58 % improvement.
This includes Industrial Land Sales increasing by 73 % in 2004 to Baht 1,481.1
million.
In November 2004, Hemaraj completed the acquisition of the KK-JTCI
industrial estate, subsequently renamed Hemaraj Eastern Seaboard Industrial
Estate. The acquisition expanding Hemaraj’s core business is in proximity to
its existing “Detroit of the East” customer base and will provide for more than
a decade of development.
David Nardone, President and CEO of Hemaraj Land And Development
Public Company Limited had the following comments on the company’s performance.
“Hemaraj had a strong operating performance for the Year 2004 due to
the fact that we have broadened the revenue from multiple operating areas. This
has shown success with steady utilities revenue growth while SME factory leases
expanded, thus complementing the industrial estate sales growth. Hemaraj is
uniquely positioned to fund prudent business expansion, to leverage its management
and systematic development skills to broaden revenue opportunities and to increase
predictable returns to shareholders.”
In Quarter 4, 2004, Hemaraj started to realize revenue from “The Park
Chidlom” of Baht 311.3 million from 101 units sold and Baht 2,600 million in
accumulated contract sales value signed as at December 31, 2004. The Park Chidlom,
with completion in late 2006, features a unique design for luxury privacy and
natural surroundings while offering world-class supplier finishes for Thai and
foreign customers from discerning international markets.
At 31st December 2004 Hemaraj reported Total Assets of Baht 8,062
million, Bank Debt and Loans at Baht 1,662 million, Total Liabilities of Baht
2,822 million and Total Shareholders Equity of Baht 5,240 million. Cash on Hand
was Baht 1,003 million. The Net Debt to Equity ratio remained low at 0.35 to 1.
For further information concerning Hemaraj Land And Development Plc.,
please visit our website at www.hemaraj.com and www.theparkresidence.co.th or
contact by email at [email protected]
Mr. David R. Nardone Mr. Paopitaya Smutrakalin Ms. Chantana Hinkaew
President & CEO Director, Investor Relations Director, Corporate Marketing
Hemaraj Land And Development Plc. Hemaraj Land And Development Plc. Hemaraj Land And Development Plc.
18/F UM Tower, 9 Ramkhamhaeng 18/F UM Tower, 9 Ramkhamhaeng 18/F UM Tower, 9 Ramkhamhaeng
Suanluang, Bangkok 10250, Thailand Suanluang, Bangkok 10250, Thailand Suanluang, Bangkok 10250, Thailand
Tel: 662-719-9555 to 9 Tel: 662-719-9555 to 9 Tel: 662-719-9555 to 9
Fax: 662-719-9546 to 7 Fax: 662-719-9546 to 7 Fax: 662-719-9546 to 7
Email: [email protected] Email: [email protected] Email: [email protected]
www.hemaraj.com www.hemaraj.com www.hemaraj.com
End.