CENTEL Reports 20% Increase in 1Q24 Net Profit from Growth in Operating Performance

Central Plaza Hotel Public Company Limited (SET: CENTEL) has announced 1Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q24 1Q23
Net Profit (Loss)

Million Baht

755.31 629.08
Earning Per Share


0.5600 0.4700
% Change 20.07


CENTEL reported a net profit in 1Q24 of  Baht 756 million, a rise of Baht 127 million, or 20% YoY because of the growth in operating performance of the hotel and the food business.

The company achieved total revenues of Baht 6,389 million (Q1/2023: Baht 5,863 million), an increase of Baht 526 million (or a rise of 9% YoY), with the proportion of total revenues between the hotel business and the food business being at 51%:49% (Q1/2023: 48%:52%); while a Gross Profit was Baht 3,607 million, an increase of 10% YoY and represented a Gross Profit Margin of 59% of the revenues (excluding other income) that was stable compared to the same period last year.

The company achieved EBITDA of Baht 1,917 million, (Q1/2023: Baht 1,672 million), an increase of Baht 245 million (or 15%) compared to the same period last year and EBITDA Margin of 30% improved from the last year (Q1/2023: 29%) due to the recovery of the hotel business. The company had an Earning before Interest and Tax (EBIT) of Baht 1,162 million, an increase of Baht 211 million or 22% compared to the same period last year.

The company has set a goal to achieve Net Zero by 2050. Under our operational plan, we are targeting a 20% reduction in greenhouse gas emissions by 2029 (compared to the base year 2019) through effective management of energy consumption, water usage, and waste. Additionally, the company plans to eliminate single-use plastics by 2025 and ensure that all hotels of Centara Hotels & Resorts receive environmental certification from the Global Sustainable Tourism Council (GSTC) by 2025.

In addition, the food business also emphasizes the importance of long-term operations through sustainable development. This includes prioritizing the development of talented personnel and implementing sustainable value chain management practices, which encompass environmental impact management. In addition, the company promotes the creation of a responsible business operations culture aimed at generating shared value and advancing sustainable development as integral aspects of its operations.