CENTEL Returns to Profit in 2022 as Revenues from Hotel and Food Businesses Surge

Central Plaza Hotel Public Company Limited (SET: CENTEL) announced its 2022 consolidated financial statement through the Stock Exchange of Thailand as follows;

Year 2022 2021
Net Profit (Loss)
Million Baht
398 (1,733)
Earning Per Share
0.29 (1.28)
% Change 122

In 2022, CENTEL had a net profit of Baht 398 million compared to a net loss of Baht 1,734 million last year or a growth of 123% YoY. A turnaround in performance was mainly due to the company achieved total revenues of Baht 18,216 million (vs. Baht 11,635 million in 2021), an increase of Baht 6,581 million (or 57% YoY), with the proportion of total revenues between the hotel business and the food business being 36%:64% (2021: 20%:80%); while a gross profit was Baht 10,154 million, an increase of Baht 3,755 million or 59% YoY and represented a gross profit margin of 58% of total revenues (excluding other income) that was better than the same period last year (2021: 57%). 

CENTEL had an EBITDA of Baht 4,411 million (2021: Baht 2,004 million), an increase of Baht 2,407 million (or 120% YoY) on the back of the growth from both the hotel and food businesses. An EBITDA margin of 24% was an increase from the same period last year (2021:17%). 

However, CENTEL recognized a foreign exchange gain on foreign currency loans of Baht 91 million (2021: loss of Baht 87 million).