Supalai Public Company (SPALI) H1 2024 earnings summary

Executive summary

• 1H24 pre-sales reached 13,361 million Baht, down 23% year-over-year from 17,285 million Baht in 1H23.

• Total revenues for 1H24 were 12,807 million Baht, an 11% decrease compared to 14,346 million Baht in 1H23.

• Net profit for 1H24 was 2,213 million Baht, down 20% year-over-year from 2,781 million Baht.

• Total comprehensive income for the six months was 2,684.3 million Baht, compared to 3,232.2 million Baht in the prior year.

Financial highlights

• Gross margin improved slightly to 36.0% in 1H24 from 35.6% in 1H23.

• Basic EPS for 1H24 was 1.13 Baht, down from 1.42 Baht in 1H23.

• Finance costs increased by 52% year-over-year to 303 million Baht.

• Total assets as of 30 June 2024 were 93,502 million Baht, up from 86,126 million Baht at year-end 2023.

• Cash and cash equivalents rose to 8,285.9 million Baht from 4,710.9 million Baht at year-end 2023.

Outlook and guidance

• 2024 pre-sales target set at 36,000 million Baht.

• New project launches planned for 2024 total 50,000 million Baht across 40 projects.

• Revenue backlog as of 30 June 2024 stands at 16,450 million Baht.

• Interim dividend of 0.60 Baht per share declared for 1H24, to be paid in September 2024.

• Management is assessing the impact of new international tax rules (Pillar Two) on future financial statements.