Areeya Property PLC.
Message from the chairman

In the last four years, The company has implemented a long-term plan that improves corporate performance and grows business potential. In the year 2015 and 2016, the company's focus is on the growth of the company. The company aims to increase its revenue in the year 2015 and improve its profitability in the year 2016, as seen by the growth in revenue recognition and increased net profits over the past two years. Although external problems in terms of the economy grew only slightly. In 2015, GDP grew by only 2.8% and in 2016 grew by 3.1%. The impact of public transport is not as positive as it should have caused a contraction in the second half of 2016

In the year 2016, the company recorded total sales of 4,885 million baht, better than those in 2015, which comprised 79% from low-rise projects and 21% from high-rise projects. This made the company’s total backlog reach 1,380 million baht at the end of 2016. Considering the corporate performance in the year 2016, the company had revenue from sales and other income of 4,725 million baht, a 13 percent decrease compared to the prior year, and reported net profit of 263 million baht, an increase of 22 percent over the prior year. In the year 2016, the company has completed two condominium projects, which the Company will recognize revenue in the year 2016 and will also be delivered consistently every year. Meanwhile, market of townhouse, twin house and single detached house is real demand that continues to grow revenue.

During the four years mentioned above, the Company has operated various projects to continuously conduct revenue recognition whether it is a condominium that will take longer than it is recognized as income.The company also has projects under construction and design, which are ready to recognize revenue for many years to come. At the same time, single detached house, twin house, and town home project has been developed to support long-term growth. By the end of 2016, the Company and its subsidiaries has already sold 49 projects worth a total of 33,704 million baht, with a total value of 22,326 million baht sold. The remaining products are for sale totaling 11,378 million baht. In 2016, there are 12 new projects worth approximately 5,176 million baht and projected to launch another 20 projects in 2017, the total project value of 24,000 million baht.

Lastly, the company's success can never be possible without generous support from every party involved. On behalf of Areeya Property Public Company Limited, we would like to thank all of our shareholders, customers, financial supporters, business partners, and staff members for their great support throughout the year. This helps encourage the company to succeed even in the uncertain situation and continue to grow stably and sustainably. The company commits to operate our business to ensure the maximum benefit of all stakeholders and continue to comply with the principles of good corporate governance while creating products that meet the diverse needs of our customers. We hope to always receive continued support from all of you in the years to come.

Mr. Wisit Laohapoonrungsee
Chairman and Chief Executive Officer

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