Ornsirin Holding Public Company Limited (SET: ORN) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
56.66 | 42.83 |
| Earning Per Share (Baht) |
0.0378 | 0.0392 |
| % Change | 32.31 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
64.74 | 167.23 |
| Earning Per Share (Baht) | 0.0432 | 0.1529 |
| % Change | -61.29 | |
ORN reported a net profit in Q3/2024 and Q3/2023 as the company group recorded a net profit attributable to the parent company of 56.66 million baht and 42.83 million baht, respectively. This represents a net profit margin of 12.86% and 20.63% of total revenue respectively.
In Q3/2024, ending on September 30, 2024, the company reported total sales revenue of 439.78 million baht. This represents an increase of 257.31 million baht, or 141.02%, compared to the previous quarter. Which had total sales revenue of 182.47 million baht. Compared to the same period last year, the revenue increased by 235.27 million baht or 115.04%, which had total sales revenue of 204.51 million baht.
The proportion of revenue from the transfer of ownership of housing project and land amounted
to 98.35 million baht, while the transfer of ownership of condominium units in high-rise projects amounted to 340.43 million baht. These revenues represented 22.32% and 77.26% of the total revenue respectively. Additionally, revenue from leasing and services amounted to 1.01 million baht, accounting for less than 1% of the total group revenue
During this quarter, the company achieved sales of 168 units, valued at 684.20 million baht. This represents an increase of 298.82 million baht, or a 77.54% growth compared to the same period last year. As of September 30, 2024, the company has a total backlog of 420 units, with a total sales value of 1.393 billion baht.
The group’s overall gross profit margin was 42.77% of total revenue. A decrease of 14.91 percentage points, compared to the same period last year. The gross profit margin was 57.68%. Because the group significantly transferred ownership of units in the Astra Sky River project last year.
For Distribution Costs, the company group incurred distribution costs of 70.29 million baht which is an increase of 214.55% from 22.34 million baht in the same period last year. The increase is due to higher costs associated with promoting advertising media for new projects and sales agent commission costs of high-rise projects.
As for Administrative Expenses, the company group had administrative expenses amounting to 44.02 million baht, which is an increase of 2.82% from 42.81 million baht in the same period last year.
Meanwhile, the company’s financial costs amounted to 0.19 million baht. An increase of 193.75% from 0.06 million baht in the same period last year because there is interest expense and fees for issuing bonds.
As of September 30, 2024, the company has a total backlog of 420 units, with a total sales value of 1.393 billion baht.
