Mr. Sudwin Panyawongkhanti, CFO of JenKongKlai Public Company Limited (mai: JPARK), revealed to Kaohoon that the company’s 1Q25 performance will continue to grow with a full-quarter revenue recognition from parking lot business from last year.
This development is supported by the expansion of JPARK’s parking lot in small and mid-size space. The company will recognize revenue from parking service business (PS), parking management service business (PMS), and consultant and installation parking system business (CIPS).
The company will hold a Board of Directors meeting on May 13, 2025, to approve its 1Q25 overall performance and then submit its financial reports.
As for the 2Q25 performance trend, JPARK is currently negotiating for the right to manage additional large parking lots in Bangkok Metropolis and rural provinces. However, the specific details about parking lot volumes still cannot be disclosed.
As for this year’s overall performance, the company maintains its goal of raising its revenue by 30 – 40% from last year’s total revenue of THB 670 million, attributable to the revenue recognition from existing parking lots that continue generating high revenue. JPARK also plans to expand more parking space from last year’s 42,000 to 50,000 spots.
Previously, Mr. Santipol Jenwattanaphaisarn, CEO of JPARK, revealed to Kaohoon that currently, the company has studied a parking building project and negotiated a right to manage parking spots in several projects.
One of which is in the process of closing the deal. If successful, JPARK can manage a large size parking lot with more than 3,000 spots. The company plans to complete all the processes within the next quarter.
Meanwhile, the 1Q25 performance trend is at a high level, reflecting the success of JPARK’s strategy that focuses on the location’s potentiality. The company’s new developing project also has a regular income base generated from the commercial lease.
On the analyst’s notes, Globlex Securities recommended “buy” on JPARK with a target price at THB 5.85 per share, citing fundamental factors that support clear and stable growth in the long term after anticipated that this year’s performance would continue growing from last year’s.
Furthermore, the securities company also speculated that the company’s 1Q25 performance may grow from previous quarter and last year due to the revenue recognition from Phra Nang Klao Hospital’s parking building project, the 10,000 square meters commercial lease, and the PS that saw the recovery in the utilization rate (u-rate) for parking spots.
