The Erawan Group Public Company Limited (SET: ERW) has announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
(2,050.217) | (1,715.256) |
| Earning Per Share (Baht) | (0.5628) | (0.6813) |
| % Change | (36.00) | |
ERW reported a net loss of THB2,050 million in 2021, increasing its loss from THB 1,715 million in 2020, as total operating income fell 36% year over year to THB1,485 million. Additionally, ERW generated a negative EBITDA of THB652 million.
Income from total hotel operations was at THB1,415 million, a 35 percent decrease from 2020 and income from rental and service was at THB70 million, a 44 percent increase from 2020.
Meanwhile, 4Q21 was marked the best quarterly performance in 2021 as a result of the significantly improved tourism situation in Thailand. Total operating income was THB619 million, a 5 percent increase from 4Q20 and a 173 percent increase from 3Q21. Normalized net loss was at THB371 million, in line with loss incurred in 4Q20 but generated the best quarterly performance in 2021. In addition, ERW recorded an extraordinary profit of THB95 million as a result of 2 hotels divestment in Samui and recorded the reversal of assets impairment of THB26 million. In summary, ERW recorded a net loss in 4Q21 at THB245 million.
In addition, The Board of Directors’ Meeting held on 22 February 2022 has approved the omission of dividend payment for the fiscal year 2021 since the consolidated financial statement for year 2021 indicated the net loss for THB2,050 million, which is in line with the company’s dividend payment policy. The policy is to pay 40 percent of the consolidated net profit after deductions of all categories of reserves as specified by law and the company.
