13 Nov 2018 17:27:00
Management Discussion and Analysis Quarter 3 Ending 30 Sep 2018
Management Discussion and Analysis Company name : AQ ESTATE PUBLIC COMPANY LIMITED Year : 2018 Quarter : Quarter 3 Ending : 30-Sep-2018 Note : -Translation- SET.038/2018 13 November 2018 Subject: Clarification of Q3/2018 operation result To: President The Stock Exchange of Thailand Cc: Secretary of the Securities and Exchange Commission From, the resolution of the Board of Directors' Meeting of AQ Estate Public Company Limited, no. 12/2018 on 13 November 2018 at 4 p.m., the Board of Directors considered and would like to disclose the board resolution to the Securities and Exchange Commission and the Stock Exchange of Thailand regarding the financial statement of Q3/2018 ending 30 September 2018 which was reviewed by the auditor. AQ Estate Plc. would like to disclose the Q3/2018 operation result that has the net loss of THB 21.09 million compared to that of the same period in 2017 which had the net loss of THB 62.69 million. The net loss is decreased from that of the same period in 2017 for THB 41.60 million or the change of more than 20% as a result of: Unit : THB Million Q3/2018 Q3/2017 (Increase)/Decrease %(Increase)/Decrease Revenue from sale of goods and rendering of services 124.62 245.98 121.36 49.34 Cost of sale of goods and rendering of services 107.57 207.64 100.07 48.19 Gross profit 17.06 38.34 21.28 55.50 Other revenue 38.70 53.25 14.55 27.32 Selling and administrative expenses75.63 153.47 77.84 50.72 Net profit(loss) (21.09) (62.69) (41.60) 66.36 1. Revenue from sale of goods and rendering of services of the Company and its subsidiaries in Q3/2018 is THB 124.62 million and when compared to that of the same period in 2017 of THB 245.95 million, it is a decrease of THB 121.36 million or 49.34%. It is the result that the revenue from sale of real estate in Q3/2018 is THB 92.90 million and that of the same period in 2017 is THB 220.06 million, a decrease of THB 127.16 million or 57.78% resulting mainly from the decrease of sale of condominiums and single detached houses. 2. Other revenue of the Company and its subsidiaries in Q3/2018 is THB 38.70 million, a decrease of THB 14.55 million from that of the same period in 2017. It is as a result of the reverse of provision of liabilities in the amount of THB 19.46 million in 2017. 3. Cost of sale of goods and rendering of services in Q3/2018 is THB 107.57 million and when compared to that of the same period in 2017 of THB 207.64 million, it is a decrease of THB 100.07 million or 48.19%. It is as a result that the Company and its subsidiaries have less transfer of ownership in 2018 than that in 2017. 4. Gross profit of the Company and its subsidiaries in Q3/2018 is THB 17.06 million and when compared with that of the same period in 2017 of THB 38.34 million, it is a decrease of THB 21.28 million. It is as a result of the decrease from sale of real estate in Q3/2018 of THB 127.16 million resulting in the decrease of gross profit. 5. The selling and administrative expenses in Q3/2018 is THB 75.63 million and is THB 153.47 million for the same period in 2017, a decrease of THB 77.84 million or 50.72%. From the reasons mentioned above, the Company and its subsidiaries have the net loss for Q3/2018 of THB 21.09 million. Please be informed and disseminate the information accordingly. Yours Sincerely, (Mr. Suthad Chankingthong) (Ms.Ranchana Rajatanavin) Director Director This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.