WHA Corporation Pcl. (SET: WHA) announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows:
|Net Profit (Loss)
|Earning Per Share (Baht)||
The company’s net profit for 2021 were THB 2,590.1 million an increase of 2.6% YoY. The company revenue contribution from business units are as follows:
Rental Properties Business
Rental and service income from warehouses, distribution centers, factories and structural work during the fourth quarter of 2021 and the year of 2021 were THB 297.6 mm and THB 1,160.6 mm, respectively which decreased by 0.7% and increased by 0.5%, respectively, compared to the same period of previous year because of the continuous increase in occupancy rate.
Revenue from sale of investment properties during 2021 stood at THB 4,934.5 mm, increased by 140.9%, compared to last year, mainly due to larger sale proceeds from assets monetization to REITs and higher asset sale proportion of owned assets, compared to 2020, which there was JV’s asset monetization to REITs.
Industrial Development Business
Revenue from land business and sale of properties during the fourth quarter of 2021 was THB 902.9 mm, increased by 30.6% compared to the same period of last year, due to higher number of land transfer after relaxation of travel restriction. For 2021, the revenue was THB 1,729.7 mm, decreased by 8.2%, compared to the same period of last year because of lower revenue recognition from right of ways. If excluding such revenue, the revenue from land business increased by 7.9% from a higher number of land transfer as mentioned above.
Utilities & Power Business
Utilities income for the fourth quarter of 2021 and the year of 2021 were THB 581.2 mm and THB 2,351.9 mm, which increased by 8.7% and 15.1%, respectively, compared to the same period of previous year, which was from a higher demand on both existing customers and new customers. Also, there is no drought situation that government request for lower water consumption in 2021. Furthermore, the revenue from valued-added utilities comprising of demineralized water and premium clarified water and starting for COD in 2H2020 had strong performance and grew continuously as well as increase in water tariff since the beginning of 2021.
Revenue from Solar Business for the fourth quarter of 2021 and the year of 2021 stood at THB 40.5 mm and THB 251.9 mm which increased by 103.1% and 354.3%, respectively, compared to the same period of last year, mainly due to solar panel installation service (EPC) for solar power generation of one project of THB 112.2 mm and revenue recognition from COD from additional solar power projects.