CENTEL Reports a Loss of ฿465Mn in 2Q20 on Lockdown Impact

CENTEL Reports a Loss of ฿465Mn in 2Q20 on Lockdown Impact

Central Plaza Hotel Public Company Limited (CENTEL) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

CENTEL achieved a net loss of 465.5 million baht, a decrease of 697.9 million baht or 300.3% YoY. The total revenues of 2,336.3 million baht, representing a decrease of 2,889.3 million baht or 55.3%, with the proportion of total revenues between the hotel business and the food business being 6% : 94%. Gross Profit was 1,287.8 million baht, a decrease of 53.9% YoY and representing a gross margin of 57.4% of total revenues.

The countrywide lockdowns implemented by the government during 2Q20 have impacted on hotel business as 16 company-owned and operated hotels have had to close on a phased basis in April. Therefore the hotel business in 2Q20 has achieved total revenues of 138.8 million baht, representing a decrease of 1,861.9 million baht or 93.1% from 2Q19. Meanwhile the food business has achieved total revenues of 2,197.5 million baht, decreasing 1,027.6 million baht or 31.9%. 

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