AWC announces FY20 results loss 1,881 million from COVID impact

The whole winter, AWC announces 2021 results with a loss of 1,881 million from the impact of COVID

Mrs. Wanlapa Traisorat, Chief Executive Officer and President of Asset World Corp Public Company Limited (AWC), said that the operating results for the year 2020 and Q42020, the company has revenues from Total operating income was 6,133 million baht and 1,578 million baht, respectively. By considering the total income of 4Q2020 compared with Q3 / 2020, the total income rose 24.60%, which is a continuous increase since the second quarter. The past

Benefit from a balanced and diversified portfolio of investment strategies, the company is able to generate stable and continuous cash flows.

Especially the office building business group that was not directly affected by the crisis. As the hotel and shopping center business improved, the company’s total cash flow remained positive in the past year, reflecting the continuation of operations.

This continual improvement also represents a steady recovery and an upward trend in the domestic business.

In addition, the company can also effectively control expenses. The ratio of operating expenses to operating income in the fourth quarter of 2020 decreased 13.6% from Q3 / 2020 due to the organizational restructuring plan along with the control measures and increase efficiency in cost management. Cost Control and Efficiency Initiatives, which is a solid foundation for the most efficient and sustainable management and cost management. For long term business growth

“We believe in the strength of the Thai tourism industry in the long term, so AWC is committed to creating a phenomenon by launching a new landmark project. To build a reputation for the country and the Thai tourism industry By implementing the work plan for maximum efficiency and effectiveness “

In the past, AWC has achieved the goals of the business plan. With the acquisition of Group 3 assets and the opening of Melia Koh Samui Hotel, Banyan Tree Krabi Hotel Sirimahannop Ship and Lasalle Avenue Phase 2, etc., the action has stabilized AWC’s portfolio.

As a result, at the end of 2020, AWC’s total assets increased to 125,696 million baht, growing from 99,549 million baht in 2019 to 26%.

In addition, the company Continued implementation of the improvement plan for Tawana Bangkapi 2, Courtyard by Marriott Phuket Town, however, the business is still affected by the coronavirus epidemic situation. 19 Which makes foreign tourists unable to travel to travel

And the Company also has a policy to reduce rental fees for the rental shops in the commercial real estate business in order to be able to overcome the crisis together the best. As a result, the company had a net loss in 4Q2020 of 492 million baht, a decrease of 20.6% from Q3 / 2020.

However, the company is able to generate stable cash flow. Due to the expansion of the Balanced and Diversified Portfolio, the business continues to move forward. Sustainable growth “

For hotel and hospitality business (Hospitality) of the company is still affected by the overall international tourism. This has a direct impact on the revenue of the hotel and hospitality business of the company. However, AWC has continuously participated in domestic tourism promotion programs such as the economic stimulus program in tourism, travel, and Workation Thailand. Unite to help the nation Project we travel together

In addition, the AWC INFINITE LIFESTYLE: INFINITE POINT OF HAPPINESS project is also planned in response to government tourism policy. And promote the tourism industry and the Thai economy to revive and move strongly Revenue of the hotel and hospitality business has increased significantly from 470 million baht in 3Q2020 to 773 million baht in 4Q2020 or an increase of 64.6%.

Meanwhile, revenue of the commercial real estate sector has increased from 836 million baht in 3Q2020 to 872 million baht in 4Q20 or up 4.3% as a result of the recovery. Of real estate business for commercial business (Retail) with a continuously increasing number of customers If there is no new coronavirus outbreak as it has occurred, The operating results of the hotel and hospitality business Including commercial real estate groups Will rise higher than the current number

The company continues to expand its corporate transformation plan, along with measures to control and increase efficiency in cost management, without affecting the Company’s ability in the future (Cost Control and Efficiency Initiatives). The operating expenses to operating income ratio dropped from 92.8% in 3Q2020 to 78.6% in Q420, demonstrating the company’s cost control efficiency. Well It also continues to move forward in terms of organizational cost management measures. In cutting costs in many areas

“In the transition to the year 2021, we still stand in our mission. Creating a better future (Building A Better Future) for all stakeholders, including the community, society and the nation. In a world that progresses with a new standard of life (New Normal) where the behavior and daily life of people change.

AWC’s mission is to do the business to be “better” in three areas: BETTER PEOPLE to ensure full health and safety in all AWC projects, BETTER LIFESTYLE utilizes the uniqueness of its diverse portfolio in Responding to the New Normal lifestyle through new services and BETTER ECONOMY continue to develop the business as well as developing new quality projects. As well as renovating the original project to become the main tourist destination Build confidence This will be an important part of the Thai economy to return to normal quickly and continue to grow strongly, ”said Mrs. Wanlapa.


Source: ประชาชาติธุรกิจ by www.prachachat.net.

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