AP Thailand launches 48 new projects valued at 58 billion baht, expanding its portfolio to more than 200 projects throughout Thailand after a successful year 2023, generating sales of 51 billion baht and a profit of 6 billion baht, reinforcing its strong financial position. Expand housing portfolios for all groups Spread across the country in 212 projects, targeting sales to grow to 57,000 million baht.

In the midst of economic fluctuations and the country's declining purchasing power and lack of confidence, factors from household debt and high interest rates are a drag. As a result, developers Every camp must be careful, like Mr. Wittakarn Chantavimon, Deputy Managing Director. Corporate Strategy and Creation Division, AP Thailand PCL., admits that the overall picture of the Thai economy in 2024 still has many challenges ahead. And believe that it will be another year that is not easy. with various factors that inevitably had an impact from last year

Both in the picture of the world economic system caused by geopolitical conflicts. as well as the image of confidence in the Thai economy, therefore, business operations this year must still be cautious. And the most important thing that will allow the organization to move smoothly amid economic ripples is maintaining strong financial stability. Pass strict financial discipline

To bring financial liquidity that is flexible and sufficient to support the business in the long term, at the end of 2023 we can maintain the net debt to equity ratio at

0.79 times is considered a matter that AP has given great importance to throughout the past. and is considered an important key that makes the company Success is one in every dimension.

“This year is considered to be the year of the real company. To be able to continue, it is necessary to be ready in these 5 dimensions:

1) Cash flow management that affects the stability and reliability of the organization We believe that today we are strong and financially stable. and sufficient liquidity

2) Diversification of a wide range of product portfolios and covers all market segments

3) People – Structure – Process people management organizational structure and precise work processes To support rapid work and keep up with all changes.

4) Having business partners with the same vision To jointly drive the business towards becoming number one

and 5) Supply Chain Management that is ready to support continuous business growth according to the project development and delivery plan.”

Continue to be one

Mr. Wittakarn further said that this year the company Ready to focus on continuing to be number one under the EMPOWER TOGETHER strategy. This year, every business group Including single houses, townhomes, semi-detached houses, and condominiums. Set a goal to deliver innovative spaces for a good life. You can choose for yourself so that 'every area in the AP house' can grow with everyone.

By 2024, the company aims to have 212 AP projects ready for sale throughout the country.

To capture the image of being number one in the residential real estate development industry. Both in terms of sales, income and profits, last year the company was able to generate sales as high as 51,390 million baht in terms of total income from horizontal products. Condominium group (100% JV) and other businesses as high as 48,757 million baht and net profits as high as 6,054 million baht

The goal of diversifying the product portfolio across Thailand is 212 projects, consisting of the launch of 48 new products worth 58,000 million baht, including 15 single-detached house projects worth 23,000 million baht, 23 townhomes and semi-detached houses worth 19,300 million baht, and 6 condominium projects worth 12,500 baht. million baht and 4 projects in other provinces worth 3,200 million baht and 164 projects that are in the process of being sold (ongoing projects), which will be an important key in creating continuous income (cash inflow).

As for the company's current financial stability, it is considered very strong. By maintaining strict financial discipline as well as effective financial planning and management As a result, today the company Has excellent financial liquidity and sufficient for stable growth in the long term as well as the potential to access various funding sources, whether

1. The financial market is ready to welcome the company. At the beginning of the year the company Debentures worth 2,500 million baht have been paid off as scheduled. And at the same time, our newly issued bonds worth 3,500 million baht received an overwhelming response (over subscription).

2. Available credit line from financial institutions that provide credit lines to the Company, up to 12,700 million baht.

3. Investment money from business partners like Mitsubishi Estate Group through registered capital of subsidiaries of up to 12,619 million baht for investment in condominium development in Thailand together with AP.

and 4. Income from the sale and transfer of real estate (cash inflow) that spreads risk across all segments of more than 200 projects in line with the revenue recognition target this year worth 53,700 million baht that will gradually come in continuously. Because All of which are considered a great advantage to support the company's operations. To achieve the goal to the fullest potential

Aggressive to increase market share of Super Luxury detached houses

In 2024, the detached house business group plans to launch a total of 15 new projects worth 23,000 million baht, still emphasizing the position of FUNCTIONAL IS BEAUTIFUL or a house that understands life, which is considered an important DNA that drives AP detached houses to grow continuously. By highlight of this year In addition to giving importance to the design of living space For everyone to choose to grow together in a single home. The detached house business group plans to continue increasing its market share in the Super Luxury market, price level 100 million baht, by developing branded products.

THE PALAZZO into a luxury mansion in a new context

Aggressive to increase market share of Super Luxury detached houses

In 2024, the detached house business group plans to launch a total of 15 new projects worth 23,000 million baht, still emphasizing the position of FUNCTIONAL IS BEAUTIFUL or a house that understands life, which is considered an important DNA that drives AP detached houses to grow continuously. By highlight of this year In addition to giving importance to the design of living space For everyone to choose to grow together in a single home. The detached house business group plans to continue increasing its market share in the Super Luxury market, price level 100 million baht, by developing branded products.

THE PALAZZO into a luxury mansion in a new context It's more than just a place to live. The kingdom you choose for yourself With a usable area of more than 1,000 square meters in 2 locations such as Krungthep Kreetha and Pinklao and

Baan Klang Krung brand, single house in the city In the Sathu Pradit area All of which are ready to be launched in the second half of this year. Including giving importance to the development of home designs in the brands THE CITY, CENTRO and MODEN, which are considered main product brands that have been successful for a long time.

Targeting the market leader for semi-detached houses in the city

As for the townhome and semi-detached house business group, in 2024 it plans to launch 23 new projects worth 19,300 million baht. In addition to maintaining its leadership position in the 3-story and 2-story townhome market, this year the company Ready to pass on success in townhome development Under the concept of the best vertical life space towards new and more challenging goals. With the goal of being the market leader in 3-storey and 2-storey semi-detached houses in the city, under the stance of wanting to deliver innovative life spaces that allow you to choose to expand the space to fit every happiness with 3 product brands in the group, including Baan Klang Muang Classe – Baan Klang Muang The Edition – Grand Pleno

With the selling point of the house having a maximum front width of 14.7 meters, there are options to expand your happiness space in both 3-story twin houses, area 35.50 - 46.40 square wah, usable area from 218.87 - 298 square meters, and 2-story twin houses, area 35.10 - 44.83 square wah, usable area. From 133.45 – 200.2 square meters, starting at 3.19 million baht

In the plan to launch 23 new projects, there will be 7 semi-detached houses in the following locations:

Baan Klang Muang Classe Ratchada-Ladprao / Baan Klang Muang The Edition Yothin Phatthana / Baan Klang Muang The Edition Bangna / Grand Pleno Watcharapol-Chatuchot 10 / Grand Pleno Chaengwattana-Ratchapruek / Grand Grand Pleno Ramintra-Wongwaen 2 / Grand Pleno Suksawat 64 and the rest will be in the form of 3-story townhomes and 2-story townhomes. AP Condo continues to grow in response to the market rebound.

For the condominium business group, it is considered to be growing continuously. The overall market today is considered to be continuously recovering. And we believe that the Thai condominium market picture will soon return to where it was before facing the epidemic crisis. In the past year, the AP condominium business group was very successful. Both in terms of sales and revenue recognition It was able to generate sales of up to 17,908 million baht, or a growth of 57% when compared to sales of the previous year. Total income only from condominium products (100% JV) has continued to grow to 13,184 million baht, reflecting the recovery of demand. as well as customer confidence in Condo AP

This year, the condominium business group continues to work under the same stance: Start the life you want using AP Condo to deliver a life space that everyone can choose for themselves. Preparing to launch 6 new condos valued at 12,500 million baht, this year the condo business group will promote LIFE and ASPIRE brands as important keys in project development, with LIFE Charoen Nakhon-Sathorn and ASPIRE Huai Khwang being the highlights of the year. In addition to that Still preparing to recognize income from the transfer of ownership of 3 ready-to-move-in condos. Total project value is over 11,500 million baht, including LIFE Phahon-Lat Phrao, LIFE Rama 4-Asoke and ASPIRE Ratchayothin.

In summary, AP Thailand aims in 2024 to expand the product portfolio of the AP group, ready for distribution throughout Thailand, totaling 212 projects, of which 48 are new development projects worth approximately 58,000 million baht, which are divided into 15 single-detached house projects worth 23,000 million baht. baht, 23 townhome and semi-detached house projects worth 19,300 million baht, 6 condominium projects worth 12,500 million baht, 4 provincial projects worth 3,200 million baht, and 164 projects that are in the process of being sold (ongoing projects), which will be an important key in Creating continuous income (cash inflow) with a sales target of 57,000 million baht, a 100% JV total income target of 53,700 million baht.

Financial Summary

Performance in 2023, the company has the highest sales in the industry, reaching 51,390 million baht, with total income from low-rise products. Condominium group (100% JV) and other businesses have reached 48,757 million baht, net profit is 6,054 million baht and has a net debt to equity ratio of 0.79 times, which is in line with the policy to manage the net debt to equity ratio at a level that does not More than 1 times as of February 11, 2024, the company has products waiting to recognize revenue worth 37,191 million baht.

Source:https://www.thansettakij.com/real-estate/589145

at 22/2/2024