Develop and invest in retail property for rent comprising large-scale shopping complexes and other related and supportive businesses, such as office buildings, hotels, residential development and food court. In addition, the Company invests in CPN Commercial Growth Leasehold Property Fund (CPNCG) and CPN Retail Growth Leasehold REIT (CPNREIT), and is the property manager and REIT manager.
| 6M23 | 6M22 | 2022 | 2021 |
|---|
| Revenues | 22,239.15 | 17,969.42 | 38,707.00 | 30,397.53 |
| Expenses | 13,433.83 | 11,302.59 | 24,701.76 | 20,283.60 |
| Net Profit (Loss) | 6,923.72 | 5,081.70 | 10,759.89 | 7,148.45 |
| Assets | 278,231.92 | 266,561.73 | 272,691.93 | 263,420.84 |
| Liabilities | 186,628.23 | 182,587.07 | 183,071.74 | 181,345.65 |
| Shareholders' Equity | 83,388.93 | 75,860.35 | 81,474.94 | 73,102.18 |
| Operating | 9,645.73 | 8,697.17 | 16,387.04 | 7,859.00 |
| Investing | -5,857.95 | -3,577.75 | -7,438.23 | -36,164.95 |
| Financing | -4,159.32 | -3,955.04 | -8,871.82 | 24,264.20 |
| EPS (Baht) | 1.55 | 1.13 | 2.40 | 1.59 |
| GP Margin (%) | 53.70 | 50.51 | 51.43 | 43.70 |
| NP Margin (%) | 31.42 | 28.65 | 28.09 | 23.78 |
| D/E Ratio (x) | 2.04 | 2.17 | 2.04 | 2.21 |
| ROE (%) | 15.83 | 9.69 | 13.92 | 10.08 |
| ROA (%) | 6.60 | 4.49 | 5.81 | 4.46 |
For 5-year investment plan, the Company aims not only to maintain the leading position in retail-led mixed-use property development but also to be one of the top five players in office, hotel, and residential businesses. The Company also plans to expand its business overseas. Capital expenditure of Baht 135 bn
Central Pattana develops and manages retail property and related business with strong corporate governance and place a strong emphasis on transparency, fairness, accountability and stakeholder engagement in all 3 dimensions of sustainable development – the economic, social and environmental. Central Pattana integrates sustainability across the company aligning our targets and goals with the UN Sustainable Development Goals (SDGs) to drive transformational change across our value chain. To learn more about our approach to sustainability, please visit our website: www.centralpattana.co.th/en/sustainability/sustainability-strategy/at-a-glance.
- The Company has 38 shopping malls (16 in the Bangkok Metropolitan area, 21 upcountry, 1 overseas), 17 community malls, and 1 joint-venture project. The Company has 10 office buildings for rent, 6 hotels, and has developed a total of 29 residential projects to date, which currently has a total of 20 projects available for sale and transfer (11 high-rise projects and 9 low-rise projects).
- The 2023 AGM on April 27, 2023, passed a resolution to approve the dividend payment of Baht 1.15 per share from the 2022 net profit, or approximately at 48% payout ratio from the 2022 consolidated net profit. The payment of dividend was made on May 17, 2023.
- On 26 June 2023, the Company shared the BOD resolution regarding approval of the lease renewal of Central Pinklao to CPNREIT for the period of 15 years, amendment to thirty-year lease renewal terms of Central Rama 2, and the investment by CPN in CPNREIT’s new units not more than 60% of the offering size in the upcoming capital increase. (for more information please visit SET's website)
Central Pattana's performance in 2Q23 improved continuously following the strong recovery in 2022. In 2Q23, the Company reported total revenue of Baht 11,133 mn, and a net profit of Baht 3,678 mn, growing 22% and 34% YoY respectively. Total revenues and net profit already exceeded 2Q19 by 21% and 53%, respectively. Total revenues improved QoQ across all businesses especially retail and residential businesses. Excluding the impact of financial reporting standards, the Company’s core performance showed a net profit of Baht 3,373 mn, increased by 54% YoY.
In 2Q23, the Company opened Go! Hotel Ban Chang (79 keys), which is located next to Robinson Lifestyle Banchang on 10 May 2023. In addition, it also launched a 9 storey condominium project, ESCENT PHETCHABURI, on 30 June 2023. The project consisted of 196 units with complete facilities and superior location next to Robinson Lifestyle Phetchaburi.
The Company applied the COSO ERM 2017 framework to the organizational context by established a risk management policy that covers main business activities and is cultivating it as part of the organizational culture. Key risks are determined by taking into account both internal and external factors in accordance with business direction and corporate strategy. Also, opportunities and direct/indirect impacts on business operations are identified for the Company’s risk assessment and risk management plans as appropriate to monitor and control various risks regularly towards an acceptable level.
- Thailand Top CEO of The Year 2023 for Ms. Wallaya Chirathivat, organized by ‘Business+’ magazine and the Faculty of Commerce and Accountancy, Thammasat University.
- BEST CEO, BEST CFO and BEST IR Awards in the Real Estate category from the IAA Awards for Listed Companies 2022-2023, held by the Investment Analysts Association (IAA)
| as of 30/06/23 | CPN | PROP | SET |
|---|---|---|---|
| P/E (X) | 25.08 | 14.86 | 17.96 |
| P/BV (X) | 3.45 | 1.24 | 1.46 |
| Dividend yield (%) | 1.76 | 3.42 | 3.12 |
| 30/06/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 293,964.00 | 318,648.00 | 253,572.00 |
| Price (B/Share) | 65.50 | 71.00 | 56.50 |
| P/E (X) | 25.08 | 32.49 | 34.37 |
| P/BV (X) | 3.45 | 4.02 | 3.54 |
(Jan 27, 2023)