Ananda Development PCL announces another year of record annual revenue, record annual profits and highest ever profit margin, record backlog

          Ananda Development PCL announces another year of record annual revenue, record annual profits and highest ever profit margin, record backlog, announces a near doubling of dividend and expects 2Ananda Development PCL15 to be another year of record pre-sales with 12 new projects to be launched with a project value of 31,5Ananda Development PCLAnanda Development PCL Mil Baht
          Ananda Development Public Company Limited announces another year of record annual revenue, record annual profits and highest ever profit margin and record backlog, announces an increase in the dividend to be paid and details a business plan for 2Ananda Development PCL15 during which it plans to launch 12 projects with a project value of 31,5Ananda Development PCLAnanda Development PCL Mil Baht.
          Revenue for the full year of 2Ananda Development PCL14 was 1Ananda Development PCL,58Ananda Development PCL million Baht, an increase of 15% over the full year of 2Ananda Development PCL13, with 9,678 million Baht revenue from real estate, an increase of 1Ananda Development PCL% from the previous year. Profit for the full year was 1,3Ananda Development PCL1 million Baht, an increase of 6Ananda Development PCL% from the profit of 812 million Baht in 2Ananda Development PCL13 and completing the turnaround from the loss in 2Ananda Development PCL12 of 199 million Baht.
          In the 4th quarter of 2Ananda Development PCL14 the company received 4,247 million Baht in revenue and earned 647 million Baht in net profit. This represents a decrease of 3Ananda Development PCL% in revenue compared to the same period of 2Ananda Development PCL13 due to revenues being more evenly distributed across the year in 2Ananda Development PCL14 compared to 2Ananda Development PCL13. The company’s net margin in the fourth quarter was 15% compared to a net profit margin of 16% in the fourth quarter of 2Ananda Development PCL13.
          The company generated 2Ananda Development PCL,898 million Baht in pre-sales for the year, a slight decrease from 2Ananda Development PCL13, which was a record year for the company mostly due to the launch amount in 2Ananda Development PCL14 being approximately half that of 2Ananda Development PCL13 as the company waited for capital raised at the IPO and invested in 2Ananda Development PCL13 to return and be available for reinvestment.
          The company ended the year with a backlog of 27,15Ananda Development PCL million Baht, another record for the company, and due to transfer over the next 3 years.
          Mrs. Muntana Aue-Kitkarjorn, CFO of Ananda Development, stated that, ̶Ananda Development PCL;Ananda Development is pleased to have achieved record annual profits and our highest ever profit margin in 2Ananda Development PCL14. Strong financial discipline has ensured that despite much higher than expected pre-sales for the year, and the costs associated with those sales, we increased our net margin to 12.3% from 8.8% the previous year.”
Commenting on the level of presales for the year, Mr. Ted Thirapatana, Chief Business Development Officer for Ananda, stated, ̶Ananda Development PCL;By achieving 2Ananda Development PCL,898 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. The initial sales rate at launch for the four condominiums we launched in 2Ananda Development PCL14 was 83%, our highest figure ever and shows the increased recognition by consumers of the value of condominiums located near mass transit stations and the value of the Ananda brand as being the clear leader in the market.”
          He added, ̶Ananda Development PCL;Our customers are not showing any sign of financial stress despite the economic slowdown. Between 25-35% 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 6% for the year.”
          Mr Chanond Ruangkritya, CEO of Ananda, said, "We are delighted to have achieved record revenues and record profits for the year despite the economic and political headwinds and pleased to have delivered to shareholders a record net margin due to our strong discipline in controlling costs. Ananda is the current leader in Bangkok mass transit living and we expect to more than double our launches in 2Ananda Development PCL15, further strengthening our position as a leading condominium developer.”
          He continued, ̶Ananda Development PCL;Despite this explosive growth we have maintained our financial discipline and maintained our net interest bearing debt to equity below our target of 1:1 at the end of the year.”
          He added, ̶Ananda Development PCL;As well as the record results the company has made significant additional progress during the year. We expanded our joint venture with Japan’s largest real estate company, Mitsui Fudosan, with two additional projects that both sold out at launch. We have begun deployment of Mitsui’s proprietary Total Quality Production Management System, which we expect to have significant value in improving quality control and we have begun implementing Building Information Modeling software across our entire supply chain, which we expect to significantly improve speed of design and quality control in the future. We have continued with work began last year on upgrading the internal management systems of the company to help manage our rapid growth.” 
          On the subject of the 2Ananda Development PCL15 Business Plan he explained, ̶Ananda Development PCL;Although our market of mass transit condominiums continues to demonstrate strong demand, we begin the year with a cautious plan due to continuing economic uncertainty, particularly with regard to consumer debts, although ready to increase if we see signs of rebound. Our revenue from real estate target for 2Ananda Development PCL15 is 1Ananda Development PCL,547 million Baht, an increase of 8% over our total for 2Ananda Development PCL14. We have backlog to be transferred in 2Ananda Development PCL15 of 6,22Ananda Development PCL million Baht, which represents 59% of our revenue target. 2Ananda Development PCL15 is still a ‘gap year’ for Ananda as we don’t fully see the benefits of the IPO capital come through as revenue until next year, when we expect to see revenues grow much more rapidly from 2Ananda Development PCL16 onwards as buildings already launched and sold begin to transfer”
He continued, ̶Ananda Development PCL;Our total presales target for the year is 23,Ananda Development PCL57 million Baht. This will be generated partly from a much expanded launch schedule of 31,553 million Baht in 9 condos and 3 housing launches, an increase of 111% from 2Ananda Development PCL14, as well as from sales from previously launched projects. The total is based on pre-sales of 4Ananda Development PCL% at launch of the new projects, whereas our achieved total in 2Ananda Development PCL14 was 83% so there is scope for upside in the presales target depending on market strength. In 2Ananda Development PCL14 we bought 18 land plots for 1Ananda Development PCL,284 million Baht, so we have additional land plots available to launch should demand prove stronger than expected.”
          He added, ̶Ananda Development PCL;We plan to launch 7 new projects with a total project value of 17,Ananda Development PCL45 million Baht in the first and second quarters of this year under the brands ̶Ananda Development PCL;Ashton” and ̶Ananda Development PCL;Ideo Q” including a new brand brand ̶Ananda Development PCL;UNiO Condo”. Ashton Chula-Silom, a luxury high-rise condominium is a joint venture project between Ananda and Mitsui Fudosan with 56 floors and 1,18Ananda Development PCL units with a project value of 8,267 million Baht starting at 5.9 million Baht per unit and located18Ananda Development PCL meters from Samyan MRT Station and near the Silom-Saladaeng Interchange Station. And close to the business and diplomatic districts and leading educational institutions such as Chulalongkorn University.” 
          He continued, ̶Ananda Development PCL;Ashton Residence 41, will be launched with 79 units over 8 floors on Sukhumvit Soi 41, with a project value of 1,361 million Baht and a starting price 15 million Baht located in mid Sukhumvit and located 6Ananda Development PCLAnanda Development PCL meters from Phomphong BTS Station. It is designed to live in harmony with nature. In addition, Ideo Q Chidlom will be launched with 38 floors, 4Ananda Development PCLAnanda Development PCL units with a project value of 2,543 million Baht and a starting price 5.9 million Baht. Furthermore, the Unio value condominium brand will be launched for the first time, with 8 floors located in Charunsanitwong Soi 3, 9Ananda Development PCLAnanda Development PCL meters from Bangsue-Thrapha and Hualumphong-Bangkae. Interchange Station. The company will launch the first project with 1,936 units with a project value of 1,935 million Baht, pricing from 999,Ananda Development PCLAnanda Development PCLAnanda Development PCL Baht.”
          He added, ̶Ananda Development PCL;We have developed a new housing brand launching for the first time under ̶Ananda Development PCL;Arden”. The first three projects are located on Rama 3, Patanakarn 2Ananda Development PCL and Ladprao 71. Arden Ladprao 71 has 67 units with a project value of 579 million Baht starting price 7.5 million Baht. Arden Rama 3 has 68 units with a project value of 1,Ananda Development PCL74 million Baht starting price 12.5 million Baht. Arden Patanakarn 2Ananda Development PCL has 159 units with a project value of 1,287 million Baht starting price 7.5 million Baht.”
          He added, ̶Ananda Development PCL;Ananda will have exclusive presales event for the 3 new projects, Ashton Chula-Silom, Ashton Residence 41 and Ideo Q Chidlom for Ananda Members Club and pre-regstered customers via www.ananda.co.th on 21 and 22 March, respectively at the Sofitel So Bangkok Hotel.” 
          He concluded, ̶Ananda Development PCL;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.”
          As such, the Board will submit for approval to the Annual General Meeting a recommendation to increase the dividend by 96% to 9.8 satang from 5 satang last year.