Covid-19 Continues to Hurt CENTEL, with 1Q21 Net Loss Jumping to ฿475Mn

Central Plaza Hotel Public Company Limited (CENTEL) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

In 1Q21, CENTEL had a net loss of 475 million baht, a decrease of 430 million baht, or a drop of 956% YoY as the company achieved total revenues of 2,774 million baht compared to 4,601 million baht in 1Q20, a decrease of 1,827 million baht (or a 40% drop YoY), with the proportion of total revenues between the hotel business and the food business being 18%:82%, while gross profit was 1,538 million baht, a decrease of 41% YoY and representing a gross profit margin of 57% of hotel business revenues that slightly decreased from the same period last year.

 

The hotel business had a total revenue of 01 million baht, decreasing 72% YoY as the sector continued to be impacted from the Covid-19, while revenue from food business was 2,273 million baht, dropping 19% YoY, mainly driven by a decrease in same stores sales (SSS) growth by 23% YoY.