Business Overview
The Company operates fully integrated property development activities which are 1. for sales: single detached houses, townhouses and condominiums, 2. for rental purposes, 3. consultancy and management services: services include consultancy management and administration, engineering techniques and support systems.
Financial Statement
| 6M23 | 6M22 | 2022 | 2021 |
|---|
Income Statement (MB)
| Revenues | 10,259.66 | 9,068.17 | 21,684.86 | 19,515.58 |
| Expenses | 8,704.80 | 7,794.77 | 18,325.00 | 16,819.74 |
| Net Profit (Loss) | 1,127.65 | 968.76 | 2,556.01 | 2,062.13 |
Balance Sheet (MB)
| Assets | 59,736.09 | 51,772.71 | 57,401.31 | 49,754.44 |
| Liabilities | 37,489.24 | 31,464.76 | 35,691.99 | 29,700.77 |
| Shareholders' Equity | 22,263.34 | 20,344.51 | 21,732.51 | 20,084.12 |
Cash Flow (MB)
| Operating | -978.07 | -3,368.30 | -5,431.29 | 215.12 |
| Investing | -675.73 | -75.46 | -783.24 | 450.18 |
| Financing | 1,770.54 | 282.40 | 2,919.85 | 2,524.88 |
Financial Ratio
| EPS (Baht) | 0.27 | 0.23 | 0.61 | 0.49 |
| GP Margin (%) | 33.16 | 32.64 | 33.22 | 30.77 |
| NP Margin (%) | 11.06 | 10.62 | 11.82 | 10.51 |
| D/E Ratio (x) | 1.69 | 1.55 | 1.64 | 1.48 |
| ROE (%) | 12.74 | 10.67 | 12.22 | 10.64 |
| ROA (%) | 6.65 | 5.57 | 6.30 | 5.75 |
Business Plan
- Thriving Beyond in 2023-2027
- Total revenue grows for 5 consecutive years with total value of Bt 150,000 million.
- Presales Target of 2023 at Bt 30,000 million.
- Total Revnue Target of 2023 at Bt 25,000 million
- New Launches in 2023 ; 25 Projects with total value of Bt 40,000 million.
Sustainable Development Plan
In 2022 the company operates and reviews sustainable development strategies covering economic, social, environment, and governance dimensions. With a 4-year target “SC Thriving for Good – Sustainability on the new normal”, the company continues its 2021 plan with expectation of total revenue growth more than 1,000 billion Baht within 2025, while creating a value through solutions that connect people and environment.
In 2022, SC is focusing on 3 operating strategies which are:
(1) Thriving
(2) Connecting
(3) Sustaining
Business Highlight
A leader in luxury single detached house market
Performance and Analysis
Business Performance Summary
In 1H23 The Company showed performance highlights as follow;
- Operating Revenues at Bt 10,136 million, increasing by 12%
- Sales Revenue at Bt 9,621 million, increasing by 12%
- Gross Profit at Bt 3,361 million, increasing by 14%
- Net Profit to the owner at Bt 1,128 million, incresing by 16%
- Earning Per Share at Bt 0.2650
Key Milestones
- In 1995, the Company started its office rental business and invested in the construction of Shinawatra Tower 3 which is a Smart Building.
- In 2003, its name was changed to the SC Asset Corporation Public Company Limited. After becoming a public company, the Company has operated a fully-integrated property development business.
- In 2018, the Company established SC ALPHA Inc. to invest in rental apartment in USA
- In 2019, the Company established SC expedition Co., ltd to operating recurring income businesses.
- In 2022, the Company establised SCX H1 and SCX1 to operate hotel and warehouse businesses.
Risk Management Policy
The Company follows the COSO ERM 17 framework which are;
- Set objectives
- Set Risk Assessment Measures
- Identify Risk
- Assess the Severity of the Risk
- RIsk Response
- Monitor and Reporting on Risk Management
Recent Awards and Recognitions
- Outstanding award for “Best CEO” and “Best CFO” for real estate and construction business, in the 2021 IAA Awards for Listed Companies.
- Ranked by the Stock Exchange of Thailand as being among the list of the Thailand Sustainability Investment (THSI) for 8 consecutive years
- The Company received its decoration for “Sustainability Disclosure Recognition” from the Thaipat Institute.
- The Company has been appointed to be a member of the Thai Private Sector Collective Action Against Corruption (CAC) for two consecutive years and was assessed under the scheme of Corporate Governance Report of Thai Listed Companies (CGR) for 2022
- Awarded for the “Best Developer Award” from the 17th Annual PropertyGuru Thailand Property Awards
- Awarded the “2022 BCI Asia Top 10 Developer Awards”.
- Awarded for the “FIABCI-Thai Prix d’ Excellence Awards” for 2021
- Awarded for the quality office building for the Company’s two office buildings which are the Shinawatra Tower 3, and the SC Tower in the 6th MEA Energy Awards.
- Awarded for the “Most Powerful Brand in Real Estate for 2022” from the 2022 Terrahint Brand series
- Awarded the “Best Brand Performance on Social Media (finalist)” in the real estate & property development sector from the 2022 Thailand Zocial Award.
Revenue Structure
Stock Information
SET / PROPCON / PROP
| as of 30/06/23 | SC | PROP | SET |
|---|---|---|---|
| P/E (X) | 6.88 | 14.86 | 17.96 |
| P/BV (X) | 0.83 | 1.24 | 1.46 |
| Dividend yield (%) | 5.71 | 3.42 | 3.12 |
| 30/06/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 18,603.14 | 17,819.44 | 14,078.08 |
| Price (B/Share) | 4.36 | 4.22 | 3.36 |
| P/E (X) | 6.88 | 8.09 | 7.26 |
| P/BV (X) | 0.83 | 0.86 | 0.72 |
CG Report:
Company Rating:
BBB+
Major Shareholders
as of 30/06/2023
Company Information and Contact
http://www.scasset.com
ir@scasset.com
0-2949-2000
1010 VIPHAVADI RANGSIT ROAD, CHATUCHAK Bangkok 10900
Other Trading Info. :
https://www.settrade.com/C04_01_stock_quote_p1.jsp?txtSymbol=SC
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