最新ニュース
HEMARAJ - 2013 REVENUE OF BAHT 8,769.6 MILLION UP 37%
28/02/2014
- 2013 NET INCOME OF BAHT 4,338.5 MILLION UP 90%
- (NORMALIZED NET INCOME (NNI) OF BAHT 4,661.9 MILLION UP 121%)
Hemaraj Land And Development Public Company Limited announced its operating and financial results for the year 2013 as summarized below.
Net Income
For Quarter 4’2013, Hemaraj reported Total Net Income of Baht 2,252.6 million, or increase of 227% compared with the same period of the previous year. Net Income for Quarter 4’2013 increased significantly due partially to extra gain on sale and lease under financial lease from Hemaraj Property Fund of Baht 1,458.6 million net of rental revenue reserve, income tax and minority interest, booked in this quarter. Earnings per-share was 0.232 Baht per share, representing an increase of 227%. Normalized Net Income (NNI) for Quarter 4’ 2013 was Baht 2,466.4 million (excluding unrealized foreign exchange loss of Baht 213.8 million), or an increase of 274%.
For the year of 2013, Hemaraj reported Total Net Income of Baht 4,338.5 million, and earnings per-share of 0.447 Baht per share, or an increase of 90% compared with the same period of 2012. The increase of Net Income for the year of 2013 was due to revenue from core business which are industrial estates, rental properties, utilities, and power and from extra gain on sale and lease under financial lease from property fund booked in Quarter 4’2013.
In 2013, the gain from power/utility associates (excluding foreign exchange unrealized translation gain/loss) was Baht 882.3 million, or an increase of 72% from the same period of 2012. There was an unrealized foreign exchange translation loss from Power Investment (Gheco-One and GJP NLL) of Baht -323.4 million compared to an unrealized foreign exchange translation gain of Baht 177.9 million in the same period of 2012. Normalized Net Income (NNI) for the year of 2013 was Baht 4,661.9 million, an increase of 121%.
David Nardone, President and CEO of Hemaraj Land And Development Public Company Limited had the following comments on the company’s performance. “Hemaraj Land And Development Public Company Limited finished the year of 2013 with record results. Operating Revenue of Baht 8,849 million increased 37%. EBITDA of Baht 6,036.7 million, with an adjusted margin of 43%, increased 132%. Normalized Net Income of Baht 4,661.9 million reflected solid financial results as well as the favorable market for Hemaraj’s first property fund. Our broadened revenue reflected the Industrial Estate Land sales revenue being up 45%, Industrial Estate Utilities revenue increase of 13%, Ready Built Factory rental revenue increase of 48%, as well as Logistics Parks rental revenue increase of 552%, all being in comparison with the prior year.
For the year of 2013, operating results were Industrial Estate Sales of 2,200 rai (880 acres or 352 hectares), with 101 contracts, 60 new customers and 41 project expansions from existing customers. Notable new customers were Mazda Powertrain and Chonburi Power, the latter a 2,500 MW IPP gas power plant operating from 2021. Foreign Direct Investment in Thailand reflected Baht 1,027 billion approved projects for the year of 2013 by the Board of Investment, a 4% increase from the same period of 2012.
For Power Business, our first 126 MW SPP power project with Gulf J-Power, namely GJPNLL, commenced its commercial operation in May 2013. Gheco-One, a 660 MW IPP power project with Hemaraj 35% shareholding, which had initial teething start up performance, was successfully operating at near 100% availability by year end 2013. Both are projected to increase contributions to earnings going forward.
Hemaraj Industrial Property and Leasehold Fund (HPF) was successfully launched on 24 December 2013. The total value of Baht 4.7 billion comprised Baht 3.22 billion of investments in freehold and Baht 1.48 billion from leasehold ready built factories – encompassing a total area of 150,117 square meters. Hemaraj realized an extra gain on this transaction of Baht 2,527.2 million booked in Quarter 4’2013, or net Baht 1,458.6 million after rental revenue reserve, income tax, and minority interest.
Thailand is impacted by political discourse having a negative effect on growth, tourism, and the smooth functioning of government. While no direct effect to our industrial customers operations, this has impacted investment timing. We are exercising additional caution in our business plans.
Hemaraj investments are progressing with a broad balanced growth in our core business areas - industrial estates, utilities, power, ready-built factories, logistics parks, and properties. Our 2013 results demonstrate the improving predictability of Hemaraj revenue and earnings. Our strategy remains to provide superior long term returns to shareholders.”
Revenue and Results of Operations for the Year of 2013.
For the year of 2013, Hemaraj’s Total Revenue was Baht 8,769.6 million compared with Baht 6,399.4 million for the same period of 2012, representing a 37% increase. Total Operating Revenue from core business was Baht 8,849 million, a 37% increase from the same period of 2012. Industrial Estate Land Sales for the year of 2013 were Baht 5,770.9 million, or a 45% increase, with a gross margin of 48%. There is an additional Baht 2,907 million in deferred revenue, with recognition based on the title transfer date, from Industrial Estate land sales not recognized to date representing sales that will be recognized primarily over the next 3 to 24 months.
Industrial estate utilities increased to Baht 1,568.6 million, or an increase of 13%, reflecting the higher utility volumes and rates. Total Utilities which includes industrial estate utilities, dividend from power utilities associates, and other utilities and services fees increased to Baht 1,646.7 million, an increase of 10%. Total Rental Property and Services Revenue including ready built factory rental, logistics parks rental, pipe-rack rental, and commercial office rental increased to Baht 1,011.8 million, an increase of 40%. Sale of Property including ready built factory sales, residential sales and other land/property sales increased to Baht 419.5 million, an increase of 63%.
The Gross Profit was Baht 4,187.5 million, a 42% increase from the same period of last year. Earnings Before Interest Tax Depreciation and Amortization (EBITDA) were Baht 6,036.7 million, a 132% increase from the same period of last year. The Gross Profit Margin and EBITDA Margin improved to 48% and 69%, respectively.
Significant Activities for the Year of 2013
• Industrial Estate Land Sales were 2,200 rai with 101 contracts, 60 new customers and 41 project expansions from existing customers. Hemaraj now has 615 distinct new customers with 933 contracts including 215 automotive customers with 329 automotive contracts.
• Ready Built Factories for Rent increased net 61,559 square meters or 26% from 2012 cumulative balance, totaling 297,368 square meters under rent comprising of 175,274 square meters at Hemaraj companies and 122,094 square meters rented under the year-end Hemaraj Property Fund (HPF).
• Hemaraj Industrial Property and Leasehold Fund (HPF) was successfully launched on 24 December 2013. The total value of Baht 4.7 billion comprised Baht 3.22 billion of investments in freehold and Baht 1.48 billion from leasehold ready built factories – with a total area of 150,117 square meters.
• Hemaraj Logistics Parks for Rent increased 55,325 square meters from 2012 year-end cumulative balance, totaling 72,145 square meters under rent.
Balance Sheet Highlights for the 12-month period ended 31th December 2013
At 31th December 2013, Hemaraj reported Total Assets of Baht 33,434 million, Total Liabilities of Baht 18,778 million and Total Shareholders’ Equity of Baht 14,656 million. The Net Debt to Equity ratio was 0.95 to 1 with Cash and Deposits on Hand of Baht 4,780 million.
- (NORMALIZED NET INCOME (NNI) OF BAHT 4,661.9 MILLION UP 121%)
Hemaraj Land And Development Public Company Limited announced its operating and financial results for the year 2013 as summarized below.
Net Income
For Quarter 4’2013, Hemaraj reported Total Net Income of Baht 2,252.6 million, or increase of 227% compared with the same period of the previous year. Net Income for Quarter 4’2013 increased significantly due partially to extra gain on sale and lease under financial lease from Hemaraj Property Fund of Baht 1,458.6 million net of rental revenue reserve, income tax and minority interest, booked in this quarter. Earnings per-share was 0.232 Baht per share, representing an increase of 227%. Normalized Net Income (NNI) for Quarter 4’ 2013 was Baht 2,466.4 million (excluding unrealized foreign exchange loss of Baht 213.8 million), or an increase of 274%.
For the year of 2013, Hemaraj reported Total Net Income of Baht 4,338.5 million, and earnings per-share of 0.447 Baht per share, or an increase of 90% compared with the same period of 2012. The increase of Net Income for the year of 2013 was due to revenue from core business which are industrial estates, rental properties, utilities, and power and from extra gain on sale and lease under financial lease from property fund booked in Quarter 4’2013.
In 2013, the gain from power/utility associates (excluding foreign exchange unrealized translation gain/loss) was Baht 882.3 million, or an increase of 72% from the same period of 2012. There was an unrealized foreign exchange translation loss from Power Investment (Gheco-One and GJP NLL) of Baht -323.4 million compared to an unrealized foreign exchange translation gain of Baht 177.9 million in the same period of 2012. Normalized Net Income (NNI) for the year of 2013 was Baht 4,661.9 million, an increase of 121%.
David Nardone, President and CEO of Hemaraj Land And Development Public Company Limited had the following comments on the company’s performance. “Hemaraj Land And Development Public Company Limited finished the year of 2013 with record results. Operating Revenue of Baht 8,849 million increased 37%. EBITDA of Baht 6,036.7 million, with an adjusted margin of 43%, increased 132%. Normalized Net Income of Baht 4,661.9 million reflected solid financial results as well as the favorable market for Hemaraj’s first property fund. Our broadened revenue reflected the Industrial Estate Land sales revenue being up 45%, Industrial Estate Utilities revenue increase of 13%, Ready Built Factory rental revenue increase of 48%, as well as Logistics Parks rental revenue increase of 552%, all being in comparison with the prior year.
For the year of 2013, operating results were Industrial Estate Sales of 2,200 rai (880 acres or 352 hectares), with 101 contracts, 60 new customers and 41 project expansions from existing customers. Notable new customers were Mazda Powertrain and Chonburi Power, the latter a 2,500 MW IPP gas power plant operating from 2021. Foreign Direct Investment in Thailand reflected Baht 1,027 billion approved projects for the year of 2013 by the Board of Investment, a 4% increase from the same period of 2012.
For Power Business, our first 126 MW SPP power project with Gulf J-Power, namely GJPNLL, commenced its commercial operation in May 2013. Gheco-One, a 660 MW IPP power project with Hemaraj 35% shareholding, which had initial teething start up performance, was successfully operating at near 100% availability by year end 2013. Both are projected to increase contributions to earnings going forward.
Hemaraj Industrial Property and Leasehold Fund (HPF) was successfully launched on 24 December 2013. The total value of Baht 4.7 billion comprised Baht 3.22 billion of investments in freehold and Baht 1.48 billion from leasehold ready built factories – encompassing a total area of 150,117 square meters. Hemaraj realized an extra gain on this transaction of Baht 2,527.2 million booked in Quarter 4’2013, or net Baht 1,458.6 million after rental revenue reserve, income tax, and minority interest.
Thailand is impacted by political discourse having a negative effect on growth, tourism, and the smooth functioning of government. While no direct effect to our industrial customers operations, this has impacted investment timing. We are exercising additional caution in our business plans.
Hemaraj investments are progressing with a broad balanced growth in our core business areas - industrial estates, utilities, power, ready-built factories, logistics parks, and properties. Our 2013 results demonstrate the improving predictability of Hemaraj revenue and earnings. Our strategy remains to provide superior long term returns to shareholders.”
Revenue and Results of Operations for the Year of 2013.
For the year of 2013, Hemaraj’s Total Revenue was Baht 8,769.6 million compared with Baht 6,399.4 million for the same period of 2012, representing a 37% increase. Total Operating Revenue from core business was Baht 8,849 million, a 37% increase from the same period of 2012. Industrial Estate Land Sales for the year of 2013 were Baht 5,770.9 million, or a 45% increase, with a gross margin of 48%. There is an additional Baht 2,907 million in deferred revenue, with recognition based on the title transfer date, from Industrial Estate land sales not recognized to date representing sales that will be recognized primarily over the next 3 to 24 months.
Industrial estate utilities increased to Baht 1,568.6 million, or an increase of 13%, reflecting the higher utility volumes and rates. Total Utilities which includes industrial estate utilities, dividend from power utilities associates, and other utilities and services fees increased to Baht 1,646.7 million, an increase of 10%. Total Rental Property and Services Revenue including ready built factory rental, logistics parks rental, pipe-rack rental, and commercial office rental increased to Baht 1,011.8 million, an increase of 40%. Sale of Property including ready built factory sales, residential sales and other land/property sales increased to Baht 419.5 million, an increase of 63%.
The Gross Profit was Baht 4,187.5 million, a 42% increase from the same period of last year. Earnings Before Interest Tax Depreciation and Amortization (EBITDA) were Baht 6,036.7 million, a 132% increase from the same period of last year. The Gross Profit Margin and EBITDA Margin improved to 48% and 69%, respectively.
Significant Activities for the Year of 2013
• Industrial Estate Land Sales were 2,200 rai with 101 contracts, 60 new customers and 41 project expansions from existing customers. Hemaraj now has 615 distinct new customers with 933 contracts including 215 automotive customers with 329 automotive contracts.
• Ready Built Factories for Rent increased net 61,559 square meters or 26% from 2012 cumulative balance, totaling 297,368 square meters under rent comprising of 175,274 square meters at Hemaraj companies and 122,094 square meters rented under the year-end Hemaraj Property Fund (HPF).
• Hemaraj Industrial Property and Leasehold Fund (HPF) was successfully launched on 24 December 2013. The total value of Baht 4.7 billion comprised Baht 3.22 billion of investments in freehold and Baht 1.48 billion from leasehold ready built factories – with a total area of 150,117 square meters.
• Hemaraj Logistics Parks for Rent increased 55,325 square meters from 2012 year-end cumulative balance, totaling 72,145 square meters under rent.
Balance Sheet Highlights for the 12-month period ended 31th December 2013
At 31th December 2013, Hemaraj reported Total Assets of Baht 33,434 million, Total Liabilities of Baht 18,778 million and Total Shareholders’ Equity of Baht 14,656 million. The Net Debt to Equity ratio was 0.95 to 1 with Cash and Deposits on Hand of Baht 4,780 million.