Sansiri is a property development company that operates 3 core businesses: Property Development (for sale and rent), Property Services (property brokerage services, property management, hospitality business and etc.) as well as Investment Business.
| 6M24 | 6M23 | 2023 | 2022 |
|---|
| Revenues | 19,928.30 | 18,492.65 | 39,082.12 | 34,983.48 |
| Expenses | 16,915.59 | 14,585.70 | 31,867.29 | 29,755.26 |
| Net Profit (Loss) | 2,702.03 | 3,202.93 | 6,060.39 | 4,279.88 |
| Assets | 151,763.48 | 139,816.50 | 147,303.35 | 127,451.47 |
| Liabilities | 102,368.18 | 92,863.28 | 99,894.87 | 83,410.96 |
| Shareholders' Equity | 48,070.58 | 45,371.85 | 47,408.48 | 44,041.51 |
| Operating | 4,939.20 | 5,195.18 | 2,795.55 | -674.19 |
| Investing | -1,821.47 | -4,025.88 | -5,706.92 | -1,110.48 |
| Financing | -3,066.64 | 153.06 | 2,929.47 | 2,340.48 |
| EPS (Baht) | 0.15 | 0.19 | 0.36 | 0.27 |
| GP Margin (%) | 31.70 | 37.95 | 35.71 | 35.43 |
| NP Margin (%) | 12.95 | 17.80 | 15.51 | 12.23 |
| D/E Ratio (x) | 2.07 | 1.98 | 2.11 | 1.89 |
| ROE (%) | 11.90 | 14.74 | 13.25 | 10.07 |
| ROA (%) | 4.84 | 6.11 | 4.41 | 3.51 |
Sansiri plans to introduce 46 new projects in 2024, totalling THB 61,000mn. These projects will be separated between 26 low-rise projects (THB 35,000mn) and 20 condominiums (THB 26,000mn). Provincial cities that possess economic potential and are progressively gaining prominence as tourist destinations, including Phuket, Hua Hin, Chiang Mai and Pattaya will account for 30% of the new projects this year. The remaining 70% of the projects will be in Bangkok and the vicinity.
Sansiri adhere to operate business and lead the organisation to grow stronger and sustainably in all dimensions: economic, social, and environmental with the goal to become a Net-Zero emission organisation by 2050 towards the 3P mission as below:
PROFIT: Placing great importance on conducting the business with transparency and proper ethics under the good CG framework
PEOPLE: Recognising the opportunity to conduct the business together with social development to help reduce the inequality and improve the lives of people in the community, and promotes equal opportunity for children and youth through the initiation of the 'Zero Dropout' project
PLANET: Determining to move forward with the 'Green Mission' through a strategic process that sets the standard for environmental management and also develops residential projects with the aim to use renewable or clean energy, and fostering environmentally-friendly technologies.
- Sansiri has 40 years of experience in property development spanning all product types and pricing ranges. The designs of each project are centered on the needs of customers under the “YOU-Centric” concept.
- Sansiri is a fully integrated real estate company, offering both real estate development and after-sale services management provided by Plus Property Co., Ltd., our subsidiary
- Have a solid collection of real estate brands, especially high-end brands in the Sansiri Luxury Collection such as Baan Sansiri, Narasiri, BuGaan, and legendary condominium; 98 Wireless
- Sansiri reported total revenue of THB 9,615 million in 2Q2024, a 4% decrease YoY. Revenue from project sales, which account for 88% of total revenue, rose by 6% YoY to THB 8,486 million. In line with an uptick in revenue from project sales, its cost rose 4% YoY to THB 5,672 million. Nonetheless, gross profit margin was 33.3%, or THB 3,199 million. Selling and administrative expenses represented 18.7% of total revenue. The transfer of a JV project named THE LINE Vibe in this quarter resulted in a significant growth in share of profit from JV, which surged by 237% YoY to THB 221 million. Net profit was THB 1,387 million, having a net profit margin of 14.4%.
- Sansiri had interest-bearing debt to equity (Gearing ratio) at 1.62 times, remains under restrictive financial covenants with gearing ratio less than 2.5 times.
- 13 new projects, totaling THB 13,310mn, were launched, with The Standard Residence Hua Hin, a condominium located adjacent to Hua Hin beach, and Mekin Haus, in the heart of Chiang Mai, serving as the standout projects
- Launched 2 new brands: ELSE, an exclusive residence with a limited number of units and a high level of privacy, and PYNN, a compact condominium situated close by the city with a large room layout
- 2 condominiums began to transfer ownership: THE BASE Height Chiang Mai and THE LINE Vibe
The Company has set up a systematic risk management process by adapting The Committee of Sponsoring Organization of the Treadway Commission (COSO)’s Enterprise Risk Management: Integrating with Strategy and Performance framework as risk management guidelines. The Risk Management Section works independently with departmental management and risk owners to assess, catalog, and establish risk mitigation plans for both corporate and departmental risks. Furthermore, the Company analyses risk factors such as strategic risk, operational risk, financial risk, compliance risk, technology risk, and environmental, social, and corporate governance (ESG Risk) to control risk within the risk appetite level. Additionally, the risk management progress and mitigation plan are monitored and reported to the Risk Management Committee on a regular basis.
- Included into SET100 and SETHD Index
- Received the AA rating for sustainability in the SET ESG Ratings 2023, determined by the Stock Exchange of Thailand
- The most valuable real estate brand of 2023, assessed by the Faculty of commerce and Accountancy, Chulalongkorn University, together with Baramizi Group
- One of the 500 most successful business companies in Southeast Asia, as determined by Fortune Magazine, a global leader in business journalism
- Marketeer No.1 Brand Thailand 2024 in the real estate sector in 3 categories: Home, Townhome, and Condominium
| as of 28/06/24 | SIRI | PROP | SET |
|---|---|---|---|
| P/E (X) | 4.96 | 13.45 | 17.05 |
| P/BV (X) | 0.60 | 0.97 | 1.22 |
| Dividend yield (%) | 11.53 | 4.59 | 3.53 |
| 28/06/24 | 28/12/23 | 30/12/22 | |
|---|---|---|---|
| Market Cap (MB) | 28,750.49 | 29,180.72 | 26,264.70 |
| Price (B/Share) | 1.67 | 1.77 | 1.76 |
| P/E (X) | 4.96 | 4.45 | 9.28 |
| P/BV (X) | 0.60 | 0.64 | 0.65 |
