Ornsirin Holding Public Company Limited (SET: ORN) has announced its 2023 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 2023 | 2022 |
| Net Profit (Loss)
Million Baht |
180.51 | 280.92 |
| Earning Per Share
(Baht) |
0.1500 | 0.2600 |
| % Change | -35.74 | |
ORN reported a net profit of 180.51 million baht, a decrease of 35.74% or 100.41 million baht compared to the previous year of 280.92 million baht.
The company reported total revenue from sales at 1,111.47 million baht, a decrease of 422.88 million baht or 27.56% from 1,534.34 million baht in the same period last year. It is divided into the transfer of property rights of horizontal projects and condominium projects that were 422.90 and 684.91 million baht respectively. The revenue from rental and services were less than 1% of the group’s total revenue.
The decrease in revenue and net profit in 2023 was caused by the postponement of the opening project “Ornsirin Ville Chotana” from the beginning of Q4/2023 to the end of Q4/2023 and the project “Ornsirin Ville Tharua” from Q4/2023 to Q1/2024 which expect to earn the revenue from Q1/2024 onwards.
There were also one-time expenses which are the expenses related to the submission of the initial public offering of shares and the application for registration on the stock market. Resulting in an increase in administrative expenses. So, the company’s net profit was significantly lower than the same period last year.
Gross profit in the year of 2023 was 521.75 million baht, decreased by 159.12 million baht or 23.37% from 680.86 million Baht in 2022.
In addition, ORN announced a dividend payment of THB 0.05 per share to be paid on 24 May 2024. The ex-dividend date is 7 May 2024.
