Mrs. Suphajee Suthumpun, Group Chief Executive Officer of Dusit Thani Public Company Limited (SET: DUSIT) stated that the company performance this year will make a turnaround after recording a revenue of THB 11.07 billion and net loss of 236.77 millions last year.
This recovery would be due the revenue generated from the ownership transfer process from Dusit Residence and Dusit Parkside, both of which are part of Dusit Central Park project.
The current backlog comprises 90% of this project value worth THB 16 billion. DUSIT plans to begin its ownership transfer process at the end of the year and have a significant ownership transfer process in 2026. This will be a factor for a smooth transition in unlocking value with rapid growth from the revenue recognition.
DUSIT speculated that the company’s revenue this year would reach THB 9 billion, a 20 – 25% increase (this figure excludes the ownership transfer’s revenue from the Dusit Central Park project — bare shell). The company also expected that its hotel, food, education, and real estate business will grow by 20 – 25%, 10 – 15%, 10 – 12% and more than 100%, respectively.
Last year, DUSIT generated a revenue of THB 7.4 billion, excluding those from the bare shell. 65 – 67% of revenue contribution came from hotel business, 18% from food business, around 5% from education business, and about 7% came from real estate business.
In the past, 90% of DUSIT revenue came from hotel business. The company back then came up with a nine-year strategy (2016 – 2025) that focuses on three factors, which are the balance, expansion, and diversification.
At the later half of 2025, which is the ending period of the nine-years plan, DUSIT is confident that its performance would grow continually due its hotel business, which is recovering from the travel situation that is returning to normal, and the hotel expansion to the world’s famous destination, which is well received from tourists and business people.
As for the real estate business for living space, DUSIT plans to begin the ownership transfer process at the end of 2025. The food business also saw a notable expansion, with the company planning to spin off the business for a Thai exchange listing.
Mrs. Suphajee stated the DUSIT is confident that this year, its interest expense would lessen due to revenue generated from the ownership transfer process at the year’s end that will be used on debt repayments.
The company has a total debt of THB 10 billion, composed of debenture worth THB 4 billion (THB 2.5 billion of which are due in 2026 and the remaining THB 1.5 billion are perpetual bond), and interest expense worth THB 6 billion, THB 281 million of which is lending rate.
