Univentures announces an impressive operational performance in 2014 with more than 54% revenue. The company is confident that its 2015 business plan will drive this year's earnings up by at least 50%

BackMar 16, 2015

Univentures Public Company Limited reveals that the company achieved a remarkable success in 2014 with consolidated revenue of 9,625 million baht or 54% higher than in 2013. The company's net profit in 2014 stood at 395 million baht, a rise of 125% from 219 million baht in a year ago. For this year, the company targets 15,000 million baht revenue while it is planning to develop and launch new three projects under the “U Delight and Condo U” brand as well as an initial public offering of a real estate investment trust (REIT) in the second quarter this year.

Mr. Worawat Srisa-an, President of Univentures Public Company Limited disclosed that the company's business operation and performance in 2014 was satisfied as planned with a total revenue of 9,625 million baht, which exceeded its original target at 9,000 million baht. Net profit of the company was 395 million baht, increased 125% from 2013. Of total revenue, 6,486 million baht or 67% came from the property development for sales; 1,273 million baht or 13% came from the property development for rent; and 1,243 million baht or 13% came from the zinc oxide business.

"The zinc oxide business is gradually improving and expanding to new market like Indonesia, on top of existing markets such as Singapore and Vietnam. This business unit contributes 1,243 million baht up from 1,056 million baht in 2013. Sales volume also increased to 17,306 tons from 16,727 tons in 2013" he added.

"To maintain consistent business growth, the company will place emphasis more on the property development for sales both in housing residences and high – rise projects. In 2014, the company realized income from six condominium projects with combined value of 3,414 million baht. Those projects included U Delight 3 Prachachuen – Bangsue, U Delight Residence Pattanakarn – Thonglor, U Delight @Huamak Station, U Delight Rattanathibet, Condo U Vibha – Ladprao, and Condo U Ratchayothin" he added.

In this year, the company is planning to develop and launch new three projects under the U Delight and Condo U brand, with total investment of 3,500 million baht. The company will continue to develop condominium projects that are suitable for the demand of buyers and located near mass transit stations.

"With the design functions, pattern and suitable price that readily meet the demand and lifestyle of new generation customers, we have a strong confident that our condominiums will receive a good response from the target group" he added.

After the acquisition between Golden Land Property Development Public Company Limited (GOLD) and Krungthep Land Public Company Limited (K LAND), the housing residences will became a main source of revenue for Univentures. Under this year's milestone, the company is planning to launch new 13 housing projects with a combined worth of 12.8 billion baht. Of those housing projects, eleven projects will be developed by GOLD and the remaining two projects will be developed by K LAND.

"Hence, when consolidating revenue streams from housing and high – rise projects, we are confident that our business will enjoy business growth and performance according to what we had planned" he commented.

In addition, Mr. Worawat revealed that the property development for rent created 1,273 million baht revenue or 13% of total income. Park Ventures – The Ecoplex on Witthayu, a grade A office and retail development, had realized income from serviced office rental and shops at 313 million baht with a high occupancy of 100%. Meanwhile, Sathorn Square Office Tower project created 515 million baht with an improving occupancy rates.

For the business direction and plan in 2015, Univentures expects to record 15,000 million baht in consolidated revenue, a rise of more than 50% from 2014. The property development for sales will contribute 12,000 million baht, accounting for 80% of total revenue. The high – rise project will create 5,000 million baht while housing residences will generate 7,000 million baht. The revenue from the property development for rent is expected to be 1,500 million baht, representing 10% while the zinc oxide business will generate 1,400 million baht, equaling 9% and the other businesses expected to create 100 million baht, equaling 1%.

"In the second quarter, Univentures plans to list its REIT with total worth of 8,200 million baht. Golden Land will sell Sathorn Square Office Tower, worth up to 5,500 million baht, to the REIT while Univentures will transfer its Park Ventures – The Ecoplex on Witthayu, worth up to 2,700 million baht, to the trust" Mr. Worawat ended.

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