The Erawan Group Public Company Limited (SET: ERW) has announced its 3Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q2022 | 3Q21 |
| Net Profit (Loss)
Million Baht |
-11.52 | -622.79 |
| Earning Per Share
(Baht) |
-0.003 | -0.137 |
| % Change | 98.15 | |
| 9 Months | 2022 | 2021 |
| Net Profit (Loss)
Million Baht |
-463.72 | -1,804.51 |
| Earning Per Share
(Baht) |
-0.10 | -0.54 |
| % Change | 74.30 | |
The company reported a net loss of THB 12 million, significantly improving from a net loss of THB 139 million in 2Q22.
The company posted continuously improving performance in 3Q22 driven by strong international tourist arrivals growth after the country reopening since 1 July 2022 together with its quality assets to support the needs of customers at all levels. This reflects the performance of all hotel segments to be stronger, leading to the growth of international tourist arrivals which recorded over 1 million arrivals per month.
In 3Q22, the number of international tourist arrivals was 3.6 million, an increase of 128 percent QoQ of which the top five nationalities were Malaysian, Indian, Laos, Vietnam, and Singaporean.
As a result, a total operating income at THB 1,283 million, an increase of 467 percent YoY and 32 percent QoQ.
Total operating income in 3Q22 was THB 90 million, an increase of 44 percent YoY and EBITDA was THB 30 million, an increase of 15 percent YoY.
The company owns and operates Erawan Bangkok, a luxury retail property adjacent to Grand Hyatt Erawan Hotel, and manages Ploenchit Center as a property manager with the revenue of the company was at THB 15 million in 3Q22, a 12 percent increase from 2Q22 mainly due to the improving performance of Ploenchit center but decreased by 9 percent from 3Q21 due to the temporary closure of Erawan Bangkok for renovation since 2Q22.
