Developer Ananda targets 2019 revenue of Bt35 bn
Ananda Development plans to invest Bt10 billion a year to boost revenue by 20 per cent annually to Bt35 billion in 2019.
The MONEY will be used to buy vacant land and construct its projects, Muntana Aue-Kitkarjorn, chief financial officer, said yesterday.
The capital expenditure budget will be financed by internal cash flow, besides issuing debentures and borrowing from banks, to keep its debt-to-equity ratio below 1. Its D/E ratio is currently 0.74.
The company's board of directors plans to propose to its shareholders' meeting in April issuing debentures worth Bt12 billion, of which Bt2 billion worth will be for this year and the rest from 2016-19, depending on the need for investment.
Of the capex budget worth nearly Bt10 billion set for this year, Bt4 billion will be spent to buy land and Bt6 billion to construct infrastructure and residential projects.
Last year, the company used Bt10.28 billion to buy 18 plots that will be developed this year and next.
Ananda plans to launch 12 residential projects worth Bt31.5 billion this year - nine condominium projects and three detached-housing and townhouse projects.
This will drive its presales to Bt23.05 billion and its revenue to Bt11.4 billion, of which Bt10.54 billion will come from sales and about Bt900 million from management fees and rental income.
The 2015 revenue outlook is ahead of last year's Bt10.58 billion by 8 per cent, chief executive officer Chanond Ruangkritya said.
The company earned a net profit of Bt1.3 billion last year. It has declared a dividend of Bt0.098 per share, or double the Bt0.05 per share paid out for 2013.
Two of the nine new condo projects lined up for this year will be developed by its joint venture with Japan-based Mitsui Fudosan.
They will be worth about Bt10 billion.
Out of the Bt27.15 billion backlog of units waiting to be transferred to buyers, Bt6.22 billion will be BOOKEDas revenue this year.