Sansiri Public Company Limited (SET: SIRI) has announced 1Q25 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 1Q25 | 1Q24 |
| Net Profit (Loss)
Million Baht |
813.88 | 1,314.98 |
| Earning Per Share
(Baht) |
0.0420 | 0.0740 |
| % Change | -38.11 | |
SIRI reported a net profit in 1Q25 of Baht 813.88 million, a decrease of Baht 501.1 million or 38.11% compared to the previous year. The sharp decline in net profit was mainly due to a decline in operating profit following heightened competition in the property market.
In 1Q2025, the Company reported total revenue of 6,891 million Baht, representing a 31.1% decrease or 3,113 million Baht YoY, primarily due to a 37.1% YoY decrease in revenue from project sales, which totaled 5,599 million Baht.
In 1Q2025, Sansiri reported revenue from project sales of 5,599 million Baht, declining by 37.1% YoY or 3,303 million Baht YoY, primarily due to lower revenue contributions across all project categories.
Revenue from low-rise projects, comprising of single-detached houses, townhomes, and mixed products, totaled 4,004 million Baht, accounting for 72% of total revenue from project sales. The revenue from single-detached house projects was 2,750 million Baht, down 46.2% or 2,360 million Baht YoY. Key contributors included 5 projects: Narasiri Phahol-Watcharapol, Setthasiri Don Mueang, BuGaan Pattanakarn, Setthasiri Ngamwongwan, and Setthasiri Wongwaen-Chatuchot.
The revenue from townhome projects decreased by 45.5% or 361 million Baht YoY to 432 million Baht. Meanwhile, the revenue from mixed product projects decreased by 12.8% or 121 million Baht YoY to 822 million Baht, mainly driven by revenue from Anasiri Rattanathibet, Anasiri Srinakarin-Phraeksa, and Anasiri Paklok.
The revenue from condominium projects declined by 22.4%or 461 million Baht YoY to 1,595million Baht. Majority of the revenue came from the ongoing transfers from XT Phayathai and dcondo Reef Phuket, along with new transfers that began this quarter from The Muve Pradipat, Vay Pothisan II and Cabanas Hua Hin.
Further, the Company recorded revenue from projects for rent of 33 million Baht, decreased by 11.7% or 4 million Baht YoY.
Revenue from business management services in 1Q2025 was 623 million Baht, increasing by 21.5% or 110 million Baht YoY. Revenue from hotel business owned by the Company rose 55.9% or 62 million Baht YoY to 174 million Baht, primarily due to the renovation of the hotel in the United States and The Peri Khao Yai in 1Q2024. Revenue from sales of construction materials was 8 million Baht, decreasing 69.2% or 18 million Baht YoY.
