ORI Records Higher Real Estate Transfer at ฿15Bn, Offering Bt0.39 Dividend Payment

Origin Property Public Company Limited (ORI) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

In 2020, ORI recorded a net profit of 2,661 million baht, decreased 12.07% from a net profit of 3,027 million baht in 2019.

ORI stated that for the year ended of 2020, real estate transferred activities of condominium and housing estate totaled 15,086.0 million baht, increased from 2019 by 2,807.4 million baht or 22.9%.

 

The company maintained a high net profit margin at 24.0% which recognizes the profit from joint venture condominium projects (Joint Venture) with Nomura Real Estate Development Co., Ltd. totally 4 projects namely Knightsbridge Prime Onnut, Knightsbridge Collage Ramkhamhaeng, Knightsbridge Prime Ratchayothin and Knightsbridge Space Ratchayothin. This is resulted in gain from investments of joint ventures in the year 2020 which amounted to 759.6 million baht (51% shareholding proportion).

 

However, total revenue dropped to 11,114 million baht in 2020 from 14,122 million baht in 2019, representing a decrease of 21.3%. This mainly resulted from the decrease of revenue which has developed under non-joint ventures companies, but there is an increase in transferred activities of the project developed under the joint ventures company. The performance of joint ventures presented as the share of profit from investment in joint ventures in the financial statement of comprehensive income.

 

In addition, the Board of Directors of ORI resolved a resolution to pay a dividend payment of ฿0.39/share to be paid on 18 May, 2021. The ex-dividend date is May 7, 2021.