28 Feb 2019 21:42:00
Management Discussion and Analysis Yearly Ending 31 Dec 2018
Management Discussion and Analysis Company name : AQ ESTATE PUBLIC COMPANY LIMITED Year : 2018 Quarter : Yearly Ending : 31-Dec-2018 Note : -Translation- SET. 004/2019 28 February 2019 Subject: Clarification of operating result for the year 2019 To: Directors and the Manager The Stock Exchange of Thailand C.C. Secretary of Securities and Exchange Commission The meeting resolution of AQ Estate Public Company Limited No. 2/2019 on 28 February 2019 at 16.00 p.m. has provide a list of information for the Board of Director consideration and notify to the Securities and Exchange Commission of Thailand with approval of financial statements for the year 2018 ended 31 December 2018 which has already been audited by certified public accountant. AQ Estate Public Company Limited hereby reports its operating results for the year 2018 with total comprehensive net profit of 74.89 million baht and net loss totaled 164.71 million baht in the same period of 2017. The profit increased from the year 2017 in amount of 239.60 million baht with over 20% changes due to the following reasons: Unit: Million Baht 2018 2017 Increase (Decrease) % Increase (Decrease) Revenues from Sales and Services 521.05 638.67 (117.62) (18.42) Cost of Sales and Services 445.32 596.77 (151.45) (25.38) Gross Profits 75.73 41.90 33.83 80.74 Other Incomes 303.38 127.12 176.26 138.66 Total Expenses 304.29 309.11 (4.82) (1.56) Profit (Loss) Comprehensive 74.89 (164.71) 239.60 (145.47) 1. Revenue from sales and services of company and its subsidiaries amounted to 521.05 million baht in 2018 which compared to the year 2017 with a total of 638.67 million baht, a decreased to 117.62 million baht or 18.42%. In reference to revenue from sales of property total amount of 399.82 million baht in 2018 and amounted to 538.91 million baht in 2017, a decrease of 139.09 million baht or 28.81%. The main reason is to sell condominiums and houses have decreased. 2. Revenues from hotel businesses and services of company and its subsidiaries in 2018 amounted to 121.23 million baht, an increase of 21.47 million baht or 21.52 % from 2017 because hotels in Chiang Mai have performance better and the subsidiary company opened hotel service of Alix, Soi Soonwijai during month of September 2018, this cause and increase in revenue. 3. Other income of company and subsidiaries for the year 2018 amounted to 303.38 million baht, an increase of 176.26 million baht from 2017 due to reversal income of allowance for impairment of goods in amount of 94.81 million baht in 2018 and interest income increased in amount of 59.02 million baht from the year 2018. 4. Cost of sales and services for the year 2018 amounted to 445.32 million baht, compared with the year 2017, amounting to 596.77 million baht, a decrease of 151.45 million baht, representing 25.38% because of company and its subsidiaries have decreased for sales of property in 2018. 5. Gross profit of company and its subsidiaries amounted to 75.73 million baht for the year 2018, compared to 2017, with amount of 41.90 million baht, an increase of 33.83 million baht, representing 80.74% due to company can design and construction cost control has improved for sales of property therefore increasing gross profit. Total expenses amounted to 304.29 million baht in 2018, amounting to 309.11 million baht in 2017, a decrease of 4.82 million baht or 1.56%. From reasons as mentioned above, the company and its subsidiaries had comprehensive income in amount of 74.89 million baht for the year 2018. Please be aware and please spread further. 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.