SA Announced Record-Breaking 2024 Performance:
Total Revenue Surged to USD 140.50 Million, Net Profit Skyrocketed by 100%
Siamese Asset Public Company Limited (SA), a leading real estate developer, today announced its exceptional financial results for the fiscal year 2024. The Company achieved a record-breaking total revenue of USD 140.50 million, a remarkable increase of USD 81.3 million or 137.56% year-over-year. Net profit soared to USD 11.45 million, representing a significant growth of 100.11%. This outstanding performance was primarily driven by the successful transfer of units at the LANDMARK AT MRTA STATION project, along with contributions from the Company's hotel, service, and restaurant businesses.
Key Highlights of the 2024 Performance:
- Total Revenue: USD 140.50 million (up 137.56%)
- Net Profit: USD 11.45 million (up 100.11%)
- Dividend Payment: THB 0.08 per share (Record Date: March 12, 2025; Payment Date: May 23, 2025)
The Company's Board of Directors has approved a cash dividend payment of THB 0.08 per share, totaling no more than THB 95,912,560, from the 2024 retained earnings. The Record Date for determining eligible shareholders is set for March 12, 2025, and the dividend payment is scheduled for May 23, 2025.
Looking ahead to 2025, SA is poised to continue its growth by focusing on the development of Branded Residence projects in collaboration with world-renowned hotel brands. Examples are:
- Cassia Residences Rama 9 Bangkok
- WYNDHAM Bangkok Queen Convention Centre Hotel & Residences
- WYNDHAM GARDEN Bangkok Sukhumvit 42 Hotel & Residences
- RAMADA PLAZA BY WYNDHAM Bangkok Sukhumvit 48 Hotel & Residences
Additionally, the Company will expand its portfolio of Mixed-Use projects targeting the new generation of both investors and residents. SA aims to achieve a revenue growth target of 10-15% compared to the previous year, setting new record highs. The Company's strong backlog of USD 157.10 million, with an expected USD 59 million to be realized in 2025, supports this optimistic outlook.
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