Central Pattana Public Co. Ltd.

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Thai retailer eyes bigger slice of Southeast Asia after record IPO Feb 20, 2020

See more articles on Central Pattana Public Co. Ltd.

Company Background

Central Pattana is the property development and management arm of Central Group, a Thai retail conglomeragte. It controls 20% of metropolitan Bangkok's shopping mall rental space. The company manages some 25 shopping centers nationwide under the CentralWorld, CentralPlaza and CentralFestival brands, as well as offices, hotels and residential properties.

Central Group was founded by Chinese immigrant Tiang Chirathivat. He entered the retail business in 1927, opening a general merchandise store in Bangkok and Thailand's first department store in 1956. Central Pattana was established in 1980, after Tiang was succeeded by his eldest son, Samrit, to prepare for the group's entry into shopping malls. Its first development was CentralPlaza Ladprao, which opened in 1982 in northern Bangkok. In 2006, it opened CentralWorld in central Bangkok, which became the largest shopping complex in Southeast Asia.

At present, the Central Group and the Chirathivat family hold a combined 55% stake in Central Pattana. Suthichai Chirathivat, the sixth son of Tiang, is chairman of the board.

Business Summary

Central Pattana Public Co. Ltd. engages in the business of real properties. It focuses on the development of shopping complexes and other complementary mixed-use projects, which include residences, office buildings, and hotels. The company was founded on June 17, 1980 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2021	THB	USD
Revenue	30,355.53M	948.12M
Gross Profit	15,571.42M	486.36M
Operating income	10,071.93M	314.58M
Income before tax	8,324.00M	259.99M
Net income	7,148.45M	223.27M
EBITDA	18,195.93M	568.33M
Diluted EPS	1.59	0.04
Dividends Per Share	0.60	0.01
Total Assets	263,596.84M	7,890.94M
Total liabilities	181,521.64M	5,433.96M
Total equity	73,102.18M	2,188.36M
Operating cash flow	7,597.48M	237.30M
	Currency in THB	Currency in USD

Historical Data

THB | USD

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	31,094.07M	35,316.83M	38,092.57M	32,823.11M	30,355.53M
Gross Profit	16,084.51M	18,853.90M	20,006.23M	17,786.05M	15,571.42M
Operating income	11,465.97M	12,313.27M	12,355.95M	12,250.53M	10,071.93M
Income before tax	14,625.32M	12,453.10M	12,853.35M	10,723.56M	8,324.00M
Net income	13,567.64M	11,215.65M	11,738.40M	9,557.09M	7,148.45M
EBITDA	16,780.49M	17,559.09M	18,439.24M	20,156.53M	18,195.93M
Diluted EPS	3.02	2.49	2.61	2.13	1.59
Dividends Per Share	1.40	1.10	0.80	0.70	0.60
Total Assets	120,948.88M	161,917.87M	170,035.59M	221,652.28M	263,596.84M
Total liabilities	57,069.10M	87,742.13M	89,573.33M	144,528.98M	181,521.64M
Total equity	61,801.02M	65,726.01M	72,128.40M	68,790.04M	73,102.18M
Operating cash flow	26,913.79M	17,463.11M	17,899.75M	7,970.91M	7,597.48M

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	916.32M	1,092.47M	1,227.01M	1,048.82M	948.12M
Gross Profit	474.00M	583.22M	644.43M	568.33M	486.36M
Operating income	337.89M	380.89M	398.00M	391.45M	314.58M
Income before tax	430.99M	385.22M	414.02M	342.65M	259.99M
Net income	399.83M	346.94M	378.11M	305.38M	223.27M
EBITDA	494.51M	543.16M	593.95M	644.07M	568.33M
Diluted EPS	0.08	0.07	0.08	0.06	0.04
Dividends Per Share	0.04	0.03	0.02	0.02	0.01
Total Assets	3,711.22M	4,972.90M	5,676.60M	7,398.27M	7,890.94M
Total liabilities	1,751.12M	2,694.78M	2,990.38M	4,824.06M	5,433.96M
Total equity	1,896.31M	2,018.61M	2,407.99M	2,296.06M	2,188.36M
Operating cash flow	793.13M	540.19M	576.57M	254.70M	237.30M

Valuation Measures

Dec 2021
PER	35.33
ROA	2.94%
ROE	10.07%
Operating margin	33.17%
Profit margin	23.54%

Key executives

President, Chief Executive Officer & Director: Wallaya Chirathivat
CFO, CAO & Chief Risk Management Officer: Naparat Sriwanvit
Secretary & Vice President: Ampawee Chompoopongkasem
Vice President: Naruson Romkaew
Senior Vice President-Leasing: Isareit Chirathivat

Shareholders

The Vanguard Group, Inc. (1.9%)
Norges Bank Investment Management (1.0%)
First Sentier Investors (UK) IM Ltd. (0.5%)
APG Asset Management NV (0.4%)
TMB Asset Management Co., Ltd. (0.3%)
Krungsri Asset Management Co., Ltd. (0.2%)
Matthews International Capital Management LLC (0.1%)
Sjunde AP-fonden (0.0%)
Handelsbanken Fonder AB (0.0%)
Dimensional Fund Advisors LP (0.0%)

Contact Details

Website:http://www.centralpattana.co.th/en
Address: 31F, The Offices at Centralworld, 999/9 Rama 1 Road, Bangkok, 10330, Thailand
Phone: +66.2.667.5555

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Competitors

Siam Makro Public Co. Ltd.

Last Updated on 4 Oct, 2022