A5 Group Public Company Limited (A5) announced its financial performance for the first half of 2024, reporting total revenue of 920.28 million Baht and a net profit of 310.10 million Baht, reflecting a significant 82.98% increase. The revenue growth was driven by the successful transfer of ownership in the CINQ ROYAL Krungthep Kreetha project, with strong sales across all projects, pushing the backlog to 1.1 billion Baht.
Despite the challenges, the luxury real estate market showed demand in the second half of 2024. A5 plans to continue adjusting its marketing strategies, launching special campaigns targeting high purchasing power groups to enhance competitiveness. The company is also preparing to open new show homes and a new phase at the Vana Ratchaphruek-Westville project, alongside promotional efforts to boost sales. Notably, only three units remain available in the CINQ ROYAL Krungthep Kreetha project, with prices starting at 120 million Baht.
Mr. Supachoke Panchasarp, CEO of A5, revealed that the company’s first half of 2024 revenue reached 920.28 million Baht, an increase of 252 million Baht or 37.71% compared to the same period last year, which had a total revenue of 668.28 million Baht. Net profit for the period was 310.10 million Baht, up by 140.63 million Baht or 82.98% from the previous year's 169.47 million Baht.
For the second quarter of 2024, A5 reported total revenue of 448.46 million Baht, an increase of 118.69 million Baht or 35.99% compared to the same period last year. The net profit for the quarter was 167.35 million Baht, a significant increase of 102.43% or 84.68 million Baht from the 82.67 million Baht recorded in the previous year.
This strong performance is attributed to the successful transfer of ownership in the CINQ ROYAL Krungthep Kreetha project, which is expected to be fully recognized within 2024, as well as profit sharing from the joint venture project Tonsan One Residence, which met its targets. Additionally, ongoing sales from other projects contributed to the current backlog of 1.1 billion Baht, which will start to be recognized from Q3 2024 onwards.
“The overall real estate market in the second half of this year is expected to recover, driven by various positive government measures. We foresee continuous demand in the luxury housing segment, while the market for properties priced below 3 million Baht is likely to slow down due to economic challenges. However, we will continue to execute our plans, including the opening of new show homes and a new phase at the Vana Ratchaphruek-Westville project, a three-story detached house project on 17 rai of land with only 43 units, priced between 30-60 million Baht. This project emphasizes a new house design in a natural setting, as the name ‘Vana’ suggests, located in the heart of Ratchaphruek, near the Central Westville shopping mall. Additionally, the CINQ ROYAL Krungthep Kreetha project, under the campaign 'Last Chance to own a LEGACY,' offers a special opportunity for the last three families at prices starting at 120 million Baht. We are also preparing to launch a new CINQ ROYAL project, valued at 1.6 billion Baht, by the end of this year while accelerating sales strategies targeting high purchasing power groups to enhance competitiveness amidst ongoing challenges in the real estate market,” said Mr. Supachoke.
For more stories of A5, please visit our channels as follows:
Facebook : https://www.facebook.com/assetfive
Instagram : https://www.instagram.com/asset_five
YouTube : https://www.youtube.com/@assetfive
#InvestorConfidence
#FinancialGrowth
#InvestmentOpportunities
#RealEstateReturns
#A5Performance