Central Plaza Hotel Public Company Limited (SET: CENTEL) delivered a resilient financial performance for the full year of 2025, characterized by robust growth in its food business profitability and a recovery in hotel revenues, even as the company navigated significant renovation cycles and overseas currency pressures.
For the year ended December 31, 2025, CENTEL achieved total reported revenue of THB 25.30 billion, a 4% increase compared to 2024. Net profit climbed 14% to THB 1.99 billion, significantly aided by non-recurring items including foreign exchange gains and the reversal of asset impairments. On a core performance basis—excluding these extraordinary items—net profit rose 5% to THB 1.92 billion.
The food business emerged as a primary driver of the bottom line. Although segment core revenue saw a marginal 1% decline to THB 12.98 billion, its core net profit surged by 29% to THB 874 million. This efficiency was attributed to strategic cost management and the closure of underperforming outlets to align with long-term profitability goals.
Conversely, the hotel business recorded a 9% increase in core revenue to THB 12.02 billion, supported by the full reopening of renovated properties like Centara Grand Mirage Beach Resort Pattaya.
However, the segment’s core net profit dropped 10% to THB 1.05 billion. This decline was primarily due to pre-opening expenses and losses from the newly opened Centara Mirage Lagoon and Centara Grand Lagoon resorts in the Maldives during their ramp-up periods. Performance was further impacted by the full closure of the Krabi resort for major renovations and the appreciation of the Thai Baht, which weighed on overseas earnings.
Total core cost of sales remained stable at THB 9.30 billion, while selling and administrative expenses rose 4% to THB 8.9 billion. Finance costs also increased by 10% to THB 1.15 billion. Despite these costs, CENTEL maintains a healthy financial structure with an interest-bearing debt to equity ratio of 1.4 times, well within its debt covenants.
The board has approved a dividend payment of THB 0.67 per share, with an Ex-Dividend (XD) date of May 6, 2026, and a payment date of May 21, 2026.
