Central Pattana Public Company Limited (SET: CPN) announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
7,148.452 | 9,557,097 |
| Earning Per Share (Baht) | 1.59 | 2.13 |
| % Change | -25.2 | |
CPN reported a net profit of THB7,148 million in 2021, a decrease of 25.2 percent YoY, while total revenue was THB28,977 million, a decrease of 9.6 percent YoY. The decrease in both net profit and total revenue was mainly due to rental and services revenue in 2021 was impacted by COVID-19 all over the year and impact from lockdown measures resulting in temporarily closing shopping malls in high risky areas approximately two months during 3Q21. However, CPN implemented effective cost saving initiatives as planned to minimize impact on business performance and protect the interests of all stakeholders.
At the end of 2021 CPN managed 36 shopping centers (15 projects in Bangkok Metropolitan Area (BMA), 20 projects in the provinces, and 1 project overseas), 10 office towers, 32 food centers, 2 hotel properties namely Centara Hotel and Convention Centre Udon Thani, Hilton Pattaya and 22 residential projects consist of 15 high-rise projects and 7 low-rise projects as well as 1 regional mall and 18 community malls under investment through SF.
In addition, on February 18, 2022, the Board of Directors passed a resolution to propose to the Annual General Meeting of Shareholders (AGM) on April 22, 2022 to approve the dividend payment of THB0.60 per share to be paid from the 2021 net profit. The date of dividend exemption (XD) will be on March 4, 2022 and the payment date, if approved at the AGM, will be made on May 17, 2022.
CPN has set its 5-year (2022-2026) investment plan and business objectives with the aim of preserving average revenue growth per year (CAGR) at more than 10% as originally planned, primarily driven by new mixed-use development projects, enhancement of existing shopping malls, and development of new residential projects, hotels and offices, both announced and unannounced. Furthermore, the company prepares adequate levels of cash flow and liquidity under challenging circumstances of COVID-19 outbreak to meet its near-term and long-term objectives.
