NOBLE shows 2020 total revenue of THB 10,895 million, hitting a record higher than target together with announcement of dividend payment at 0.50 Baht/Share with XD on 10 May 2021
Bangkok – Noble Development Plc (NOBLE) announces its 2020 performance with total revenue exceeding target at THB 10,895 million and net profit of THB 1,878 million, driven by the ownership transfer of completed condominiums and housing projects from local and overseas transfer. The Company also announced dividend payment for second-half 2020 performance at 0.50 baht/share. Mr. Thongchai Busrapan, The Company’s executive, unveils a plan to launch 11 new projects worth combined THB 45,100 million this year, emphasizing its strength and leadership in residential developer in Thailand .
Mr. Thongchai Busrapan, Chairman and Co-Chief Executive Officer of Noble Development Plc or ‘NOBLE’, a leading residential developer in prime locations of Greater Bangkok, discloses the financial performance ending 31 December 2020 that the company recorded total revenue of THB 10,895 million which hit the total revenue target of THB 10,000 million, and net profit of THB 1,878 million. The net profit margin was 17.2% due to remarkable gross profit margin at 38.9%. For the 4Q’2020, total revenue was THB 3,483 million, and net profit was THB 640 million .
Contributing to the rise of revenue and net profit was realized revenue from the ownership transfer of completed condominiums and housing projects from local and oversea transfer, such as Noble BE19 Sukhumvit, Noble Around 33 Sukhumvit, Nue Noble Chaengwattana, Noble Ploenchit, Noble B33 Sukhumvit and Noble Recole Sukhumvit 19.
Moreover, NOBLE has been successful from the launch of 5 new condominium projects in 2020 with the total project value of THB 10,000 million, especially projects under NUE brands in 3Q’2020, namely NUE Noble Ngamwongwan, NUE Noble Ratchada-Lat Phrao and NEU Noble Fai Chai-Wang Lang as the 3 projects could achieve pre-sales around 40%-60% in each project, driving the company reach total pre-sales more than THB 6,600 million in which more than THB 3,200 million came from the sale of completed inventories. The sale of completed inventories can help recognize as revenue immediately and increase the liquidity as well. The company achieved overseas sale more than THB 1,750 million which reflects the company’s strength to maintain its leadership in the property industry. In addition, in terms of pre-sales to foreigners, NOBLE gained the market share of the Bangkok condominium as high as 36% in 2020. Moreover, the Company has generated backlog as of 2020 at THB 12,805 million which will be realized within the next 3 years and Net Interest-Bearing Debt-to-Equity at 1.15 times which will give rise the Company flexibility in borrowing from financial institutions.
Besides, the Board of Directors of the Company has resolved the dividend payment for the second-half 2020 performance at 0.50 baht/share which will be proposed to the annual general shareholder’s meeting on 28 April 2021 for the approval with the record date on 11 May 2021, XD on 10 May 2021, and payment date on 27 May 2021.
For the 2021 business direction, NOBLE’s Chairman and Co-CEO emphasized that the company set its total revenue target at THB 11,000 million along with the develop11 new projects worth combined THB 45,100 million and THB 16,000 million in pre-sale , paying the way for NOBLE to become a top-5 property developer in Thailand in 3 years time.
Lastly, NOBLE just launched Noble Form Thonglor condominium worth THB 5,400 million, located in prime location of Thonglor Road under the concept “One Form for everything life has to offer”. The revenue from this project will be gradually realized from 2024 onwards.
