Origin Property
ORI: 1Q22 Earnings In-Line with Our Forecast
Equity Bottom-Up
146 Views, 17 May 2022 10:37
EXECUTIVE SUMMARY
- ORI’s 1Q22 net profit was at Bt 738m (-11%YoY, -9%QoQ),in line with our forecast. Excluding special items from sell of investment at Bt 297 m,normal profit was at Bt441m (-37%YoY,-27%QoQ).
- The dropped in YoY and QoQ of net profit was pressured by lower revenue recognition from real estate sales in non-JV project toBt3.04bn(-12%YoY,-11%QoQ)and the loss from equity income at Bt48m
- Expect 2Q22 earning to improve QoQ supported by revenue recognition of Park Origin Thonglor JV project worth Bt12bn and two non-JV condominium project worth Bt1.16bn.
detail (11-minute read)
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Pi Securities PCL, Thailand
Leading, full-service investment firm in Thailand
Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clie...
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