Singha Estate Plc. reports revenue in 2022 of more than 12,530-million-baht, net profit of 490 million baht with a dividend payment of 0.02 baht per share. In 2023, the company plans to invest 10,000 million baht in low-rise buildings and the hotel business to get the sector restored.
On March 1, 2023, Ms. Titima Rungkwansiriroy, Chief Executive Officer of Singha Estate Public Company Limited or S, announced that the company's results for 2022 were able to bring a new high income.
To ensure sales growth within 1 year due to the Siranin Residences Pattanakarn project worth 2,900 million baht, launched at the end of 2022 with the transfer of ownership of 830 million baht, a share of 28% after the opening of the project in just 2 months.
In terms of revenue from the hotel business, amounting to 8,693 million baht, which increased almost 1-fold compared to 2021, the company was able to increase the cost of a room per day (ADR) in 2022 for hotels in many countries, such as the Republic of Maldives and the United Kingdom.
While a commercial real estate business can generate income of 1,014 million baht, an improvement of 5% as a result of increased rental rates even during the COVID situation. along with the opening of some retail space in the S-OASIS project on Vibhavadi Rangsit Road. Which will be fully launched in the second quarter of 23 years.
Business in the field of industrial real estate and infrastructure has made progress, as planned, since the first year of recognition of income from the sale and transfer of land to the S-Angthong industrial Zone (S-Angthong) for a total of 198 million baht.
"These good indicators are associated with an increase in revenue in all business groups. Combined with intensive cost management, the net profit of 490 million baht in 2022 has been fixed for 3 consecutive quarters as a result. Therefore, we can assume that 2022 is the harvest year for Singha Estate".
Ms. Titima mentioned the direction of business development in 2023 as follows:
- The hotel business group is expected to grow more noticeably than last year. Especially hotels in Thailand and the Maldives. and the success of the Sai brand management development, which helped raise ADR by 17% higher than in the era before COVID combined with the rapid recovery of Chinese tourists, effective management of the SHR portfolio is expected to lead to a 20% increase in revenue from the hotel portfolio. Recently, the company is preparing to open its third project So/Maldives Resort on the Crossroads. Maldives in the fourth quarter of 2023.
- In 2022, sales amounted to 4,000 million baht in anticipation of income from the transfer of the Santiburi The Residences and the Siranin Residences project. Ultra-luxury with high purchasing power Is ready to move forward with 5 new low-rise housing projects worth 10,000 million baht.
- Commercial real estate is expected to grow due to the annual income of the office building.
- Industrial zones and infrastructure Revenue is expected to be in line with the plan in 2023 due to the opening up of the country and the demand for industrial and processing agricultural enterprises. It is supported by the launch of two power plants into commercial operation in the fourth quarter, which will be another factor ensuring the constant growth of the company's profit.