Ananda Development Public Company Limited (ANAN) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;
ANAN stated that the company had a profit from operating results in 2020 as core business or continuing operations recorded a profit of 975.4 million baht, a decrease of 233.9 million baht or 19.3% from the same period last year.
However, there was a loss for the year from discontinued operations, mostly construction services, amounting to 1,022.1 million baht. The company has the policy to reduce the proportion of non-core businesses and focus on improving the operational efficiency of the core business. This resulted in a loss attributable to equity holders of the company amounting to 206.6 million baht. ANAN’s EBITDA in 2020 was 1,814 million baht, a slight decrease of 3% from the previous year.
Total revenue in 2020 accounted for 5,243.2 million baht, decreasing 2,468.1 million baht or 32% year on year, due mainly to a decline in sales of real estate revenue that came from the company.
The company presently has been developing projects through joint venture companies which were recognized in the statement of comprehensive income under the share of profit (loss) from investments in joint ventures.
Mr. Chanond Ruangkritya, President and Chief Executive Officer of ANAN, revealed that the company expected sales revenue in 2021 at 18.5 billion baht, which is higher than a sales revenue of 17.4 billion baht in 2020 amid prolonged Covid-19 outbreak.
The company maintained a positive outlook that demand for real estate would remain in the market, especially in the city, which is in line with the company’s new projects expected to launch in 2021 for a total of five projects worth 24.4 billion baht. The five projects are located in Thonglor, Sam Yan, Saphan Khwai, Sukhumvit 38 and Lam Sali.