Central Pattana Public Company Limited (SET: CPN) has announced its 1Q25 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 1Q25 | 1Q24 |
| Net Profit (Loss) Million Baht |
4,227.21 | 4,154.17 |
| Earning Per Share (Baht) |
0.7400 | 0.9300 |
| % Change | 1.76 | |
CPN reported a net profit of Bt 4,227 million in 1Q25, representing a 1.76% increase from the same period of last year. The Company delivered 1Q25 core net profit of Bt3,847 million, increasing 1% YoY but lower 4% QoQ. The YoY increase was lower than operating profit increase as share of profit from Grab Thailand is no longer recorded since 1Q25.
In 1Q25, the Company had total revenue of Bt12,162 million, which was similar to 1Q24 level but lower 13% QoQ mainly from the condominium transfer schedule with some seasonality impact from retail and hotel businesses.
Revenue from rental & services (Retail, Food Court, Office) saw a 9% increase YoY to Bt10,792 million in 1Q25, while revenue from Hotel Business increased 8% YoY to Bt528 million. However, those gains were offset by a decline in revenue from Residential Business by 54% to Bt602 million. Other income also recorded a 55% decrease to Bt240 million.
CPN’s 1Q25 occupancy rate of shopping malls and community malls slightly improved from 4Q24 to 92% in 1Q25, mainly from the improvement of new malls opened since late 2023 and 2024: Central Westville, Central Nakhon Sawan and Central Nakhon Pathom.
The Company has 10 office buildings for rent with a total rental area of 314,656 sqm. The occupancy rate in 1Q25 was at 89%, slightly improved from the previous quarter, thanks to the full quarter impact of improved occupancy at Unilever House and The Ninth Towers.
In 1Q25, the Company had a total of 10 hotels and 1,681 rooms with an average occupancy rate of 76%, consistently improving from the previous quarter and previous year, mainly from Centara and Go! Hotels.
