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Finance

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 2019 THBUSD
Revenue38,092.57M1,227.01M
Gross Profit20,006.23M644.43M
Operating income12,355.95M398.00M
Income before tax12,853.35M414.02M
Net income11,738.40M378.11M
EBITDA18,439.24M593.95M
Diluted EPS2.610.08
Dividends Per Share0.800.02
Total Assets170,035.59M5,676.60M
Total liabilities89,573.33M2,990.38M
Total equity72,128.40M2,407.99M
Operating cash flow17,899.75M576.57M
Currency in THBCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 24,282.56M 27,633.70M 31,094.07M 35,316.83M 38,092.57M
Gross Profit 11,116.66M 13,088.60M 16,084.51M 18,853.90M 20,006.23M
Operating income 7,134.11M 8,580.63M 11,102.11M 12,313.27M 12,355.95M
Income before tax 8,698.94M 10,180.44M 14,625.32M 12,453.10M 12,853.35M
Net income 7,880.31M 9,243.79M 13,567.64M 11,215.65M 11,738.40M
EBITDA 11,021.69M 13,227.02M 16,780.49M 17,559.09M 18,439.24M
Diluted EPS 1.76 2.06 3.02 2.49 2.61
Dividends Per Share 0.70 0.83 1.40 1.10 0.80
Total Assets 103,044.63M 104,976.79M 120,948.88M 161,917.87M 170,035.59M
Total liabilities 56,243.51M 51,971.99M 57,069.10M 87,742.13M 89,573.33M
Total equity 45,936.59M 52,037.04M 61,801.02M 65,726.01M 72,128.40M
Operating cash flow 13,835.44M 14,609.08M 26,913.79M 17,463.11M 17,899.75M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 708.51M 783.25M 916.32M 1,092.47M 1,227.01M
Gross Profit 324.35M 370.98M 474.00M 583.22M 644.43M
Operating income 208.15M 243.21M 327.17M 380.89M 398.00M
Income before tax 253.81M 288.55M 430.99M 385.22M 414.02M
Net income 229.92M 262.00M 399.83M 346.94M 378.11M
EBITDA 321.58M 374.90M 494.51M 543.16M 593.95M
Diluted EPS 0.05 0.05 0.08 0.07 0.08
Dividends Per Share 0.02 0.02 0.04 0.03 0.02
Total Assets 2,863.54M 2,931.45M 3,711.22M 4,972.90M 5,676.60M
Total liabilities 1,562.97M 1,451.30M 1,751.12M 2,694.78M 2,990.38M
Total equity 1,276.54M 1,453.12M 1,896.31M 2,018.61M 2,407.99M
Operating cash flow 403.68M 414.08M 793.13M 540.19M 576.57M

Valuation Measures

Dec 2019
PER23.80
ROA7.07%
ROE17.03%
Operating margin32.43%
Profit margin30.81%

Key executives

  • President, Chief Executive Officer & Director: Preecha Ekkunagul
  • Senior Executive Vice President-Operation: Pakorn Partanapat
  • SEVP-Finance, Accounting & Risk Management: Naparat Sriwanvit
  • Senior Executive Vice President: Suthipak Chirathivat
  • Secretary & Vice President: Ampawee Chompoopongkasem

Shareholders

  • Central Holding Co. Ltd. (26.2%)
  • Bank of Singapore Ltd. (3.0%)
  • Social Security Office of Thailand (1.9%)
  • Matthews International Capital Management LLC (1.9%)
  • The Vanguard Group, Inc. (1.9%)
  • OSATHANUGRAH NITI (1.1%)
  • CHIRATHIVAT PRIN (0.9%)
  • CHIRATHIVAT TOS (0.9%)
  • Norges Bank Investment Management (0.7%)
  • CHIRATHIVAT SUDTHIDEJ (0.7%)

Contact Details

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

Related Companies

  • Dara Harbour Co. Ltd.
  • Central Pattana Development Co. Ltd.
  • CPN Rayong Co. Ltd.
  • CPN City Co. Ltd.
  • Central Food Avenue Co. Ltd.
  • CPN Pattaya Co. Ltd.
  • Lungsuan Realty Co. Ltd.
  • Cetral Pattana Nine Square Co. Ltd.
  • Central Pattana Chonburi Co. Ltd.
  • Central Pattana Rattanathibet Co. Ltd.
  • Korat Land Owner Co. Ltd.
  • CPN Learning Center Co. Ltd.
  • W.Estate Co. Ltd.
  • Bangna Central Property Co. Ltd.
  • CPN Global Co. Ltd.
  • Grand Canal Land Public Co. Ltd.
  • Central Pattana Nine Square Co. Ltd.
  • Central Pattana Chiangmai Co. Ltd.
  • Central Pattana Khonkaen Co. Ltd.
  • Central Realty Service Rama 3 Co. Ltd.
  • Central Pattana Rama 3 Co. Ltd.
  • Rachada Nonsee Department Store Co Ltd

Competitors

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