Central Pattana Public Company Limited (SET: CPN) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss) Million Baht |
4,555.80 | 3,677.83 |
| Earning Per Share (Baht) |
1.0100 | 0.8200 |
| % Change | 23.87 | |
| 6 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
8,709.96 | 6,923.72 |
| Earning Per Share (Baht) | 1.9400 | 1.5500 |
| % Change | 25.80 | |
CPN reported a net profit of Baht 4,556 million in 2Q24, representing an increase by 24% from the same period of last year.
CPN’s 2Q24 strong performance continued to be mainly driven by the shopping mall and residential businesses. Total reported revenues excluding other income grew 19% YoY, thanks to new NLA from Central Westville, Central Nakhon Sawan and Central Nakhon Pathom, as well as residential business’ transfers which almost doubled from the same period last year.
Despite additional depreciation and finance costs related to Pinklao lease extension, the impact was partially offset by lower electricity tariff (from Baht 5.33/unit in April 2023 and Baht 4.70/unit in May-Jun 2023 to Baht 4.18/unit in 2Q24) as well as amortization income of the renewed Pinklao lease with CPNREIT.
Excluding the impact of 1) Baht 380 mn (after tax) on investment income in relation to pending Rama 2 lease payment with CPNREIT 2) depreciation and finance costs related to Pinklao land lease extension of Baht 322 mn (after tax) 3) Baht 146 mn (after tax) amortization of Pinklao of lease extension with CPNREIT and 4) Baht 146 mn fee related to Pinklao lease extension with CPNREIT, the company reported all-time-high core profit of Baht 4,206 mn, increased 25% YoY.
