IMPACT REIT (SET: IMPACT), Thailand’s leading exhibition and convention center, announces its Q2 FY 24/25 results (ending September 30, 2024), reporting total revenue of nearly 414 million baht and a net profit of 181 million baht, marking an 11% year-on-year increase. The Trust has approved a dividend payment of 0.11 baht per unit. The 6-month profit reaches nearly 560 million baht, reflecting a robust growth of almost 48%. The Trust also highlights a busy year-end schedule, particularly in the entertainment sector, with local and international concerts and music festivals, and bookings already extending into next year.
Mr. Paul Kanjanapas, CEO of IMPACT Exhibition Management Co., Ltd., the property manager of IMPACT Growth Real Estate Investment Trust (IMPACT GROWTH REIT), revealed that IMPACT REIT, Thailand and ASEAN’s largest exhibition and convention center operator, was ready to drive growth in response to Thailand’s MICE industry’s continuous growth trend, driven by the revival of economic activities and tourism. The company is focusing on markets in China, India, Vietnam, and Korea, with plans for major events extending into next year, supporting the revenue target for 2024/2025 (fiscal year ending March 31, 2025) to grow approximately 25% from the previous year’s total revenue of about 1,752 million baht.
Regarding the progress of the Sky Entrance project connecting to the Pink Line electric train, construction has reached 62.6% completion (as of September 2024). This is expected to support IMPACT REIT in 2025 by increasing transportation convenience, enhancing management, and boosting MICE tourism activities.
Ms. Wanphen Mungpiansaku, Managing Director of., Ltd., the REIT manager of IMPACT GROWTH REIT, reported strong overall performance for IMPACT REIT in Q2 of the 2024/2025 fiscal year (ending September 30, 2024). Total revenue reached 413.6 million baht, marking a 6.9% increase from 386.8 million baht in the same period last year. Net profit grew 10.5%, reaching 180.6 million baht compared to 163.4 million baht in the previous year. The average space utilization rate stood at 29.8%, with an average rental rate of 81.1 baht per square meter. With strong performance continuing into Q3, particularly from October to December, and event bookings extending into next year, IMPACT REIT is set to solidify its position as Thailand’s leading exhibition and convention center, internationally recognized and holding the country’s largest market share.
For the 6-month performance of the 2024/2025 fiscal year (April – September 2024), IMPACT REIT reported total revenue of 1,058.4 million baht, a 29.6% increase compared to 816.4 million baht in the same period last year. Net profit surged by 47.8%, reaching 559.6 million baht, up from 378.6 million baht in the previous year.
The Board of Directors has approved an interim dividend payment for Q2 2024/2025 of 0.11 baht per unit. The XD (Excluding Dividend) date is set for November 27, 2024, with the dividend payment scheduled for December 13, 2024.
