ANAN: Ananda Development Public Company Limited | Annual Report

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ANAN: Ananda Development Public Company Limited | Annual Report Annual Report 2013 GETTING UP TO SPEED 1 Annual Report 2013 Ananda Development Public Company Limited Ananda Development Public Company Limited Annual Report 2013 GETTING UP TO SPEED 2 3 Annual Report 2013 VISION To create a better quality of life by innovating urban living solutions based on mass transport systems. MISSION Life is too short for traffic. We want to give back time. So we strive to find the best locations to develop safe, high quality and affordable homes and services. Let’s live, work and play more. CORE VALUES • Commitment We keep our word 5 • Integrity We do the right thing • Respect We value people • Innovation We continue to improve • Excellence We do our best Units: Mil Baht 45,000 2013 Total Pre-sales: 40,000 Units: Mil Baht Whole Country 35,000 35,000 30,000 30,000 Units: Mil Baht 2013 Condominium Pre-sales: Whole Country 25,000 25,000 25,000 2013 Condominium Pre-sales: Bangkok GETTING UP TO SPEED 20,000 20,000 20,000 15,000 15,000 15,000 10,000 10,000 10,000 Mass Transit Living is increasingly recognized as the best way to Live, Work and Play in Bangkok. 5,000 5,000 5,000 In its first year as a public company, Ananda has exceeded all its expectations. Source : Bualuang Securities PCL. Units: Mil Baht In 2013 Ananda launched 34 billion Baht worth of new projects, in 8 condominium projects and 7 45,000 LPN ANAN SIRI PS SPALI LH QH AP SC SIRI LPN ANAN PS SPALI LH QH AP SC SIRI PS LH LPN ANAN QH SPALI AP SC housing projects. 2013 Total Pre-sales: Record revenuesRecord revenues Record profits Record profits 40,000 Units: Mil Baht Whole Country Unit : Mil Baht Unit : Mil Baht Record launchesRecord launches Record pre-salesRecord pre-sales 35,000 35,000 1,000 1,000 Unit : Mil Baht Unit : Mil Baht Unit : Mil Baht Unit : Mil Baht Unit : Mil Baht Unit : Mil Baht 34,213 30,000 30,000 35,000 35,000 Units: Mil Baht 35,000 35,000 14,000 14,000 2013800 Condominium800 Pre-sales: Whole Country 25,000 25,000 25,000 30,000 30,000 30,000 30,0002013 Condominium Pre-sales: 12,000 12,000 600 600 Bangkok 20,000 20,000 20,000 25,000 25,000 25,000 25,000 21,083 10,000 10,000 400 400 15,000 15,000 15,000 20,000 20,000 20,000 20,000 8,000 8,000 200 200 10,000 10,000 10,000 15,000 15,000 15,000 15,000 6,000 6,000 0 0 5,000 5,000 5,000 10,000 10,000 10,000 10,000 4,000 4,000 -200 -200 Source : Bualuang Securities PCL. 5,000 5,000 5,000 5,000 2,000 2,000 -400 -400 LPN ANAN SIRI PS SPALI LH QH AP SC SIRI LPN ANAN PS SPALI LH QH AP SC SIRI PS LH LPN ANAN QH SPALI AP SC 2010 2 011 20122010 20132 011 2012 2013 2010 2 011 20122010 20132 011 2012 2013 2010 2 011 20122010 20132 011 2012 2013 2010 2 011 20122010 20132 011 2012 2013 Units: Mil Baht 45,000 RecordRecord revenues revenues RecordRecord profits profits 2013 Total Pre-sales: Unit : UnitMil Baht : Mil Baht 40,000 RecordRecord launches launches RecordRecord pre-sales pre-sales Units: Mil Baht Whole Country 1,0001,000 Unit : UnitMil Baht : Mil Baht Unit : UnitMil Baht : Mil Baht Unit : UnitMil Baht : Mil Baht 35,000 812 35,000 35,00035,000 35,00035,000 14,00014,000 800 800 30,000 30,000 Units: Mil Baht 2013 Condominium Pre-sales: 30,00030,000 30,00030,000 12,00012,000 600 600 Whole Country 25,000 25,000 25,000 2013 Condominium Pre-sales: 9,228 25,00025,000 25,00025,000 Bangkok10,00010,000 400 400 20,000 20,000 20,000 20,00020,000 20,00020,000 8,0008,000 200 200 15,000 15,000 15,000 15,00015,000 15,00015,000 6 6,0006,000 0 0 7 10,000 10,000 10,000 10,00010,000 10,00010,000 4,0004,000 -200-200 5,000 5,000 5,000 5,0005,000 5,0005,000 2,0002,000 -400-400 Source : Bualuang Securities PCL. 201020102 0112 0112012201220132013 201020102 0112 0112012201220132013 201020102 0112 0112012201220132013 201020102 0112 0112012201220132013 LPN ANAN SIRI PS SPALI LH QH AP SC SIRI LPN ANAN PS SPALI LH QH AP SC SIRI PS LH LPN ANAN QH SPALI AP SC Ananda Development Public Company Limited Annual Report 2013 MOST SUCCESSFUL LAUNCH EVER In October, Ananda had a combined launch of three new projects: Ideo Q Chula-Samyan, Ideo Q Ratchathewi and Ideo Mobi Charan-Interchange. This launch generated 11.5 billion Baht in pre-sales, Ananda’s most successful project launch ever and the highest single month pre-sales total in its history. THE WORLD COMES TO BANGKOK In 2013, Ananda offered its properties to the international market for the first time with a sales event in Singapore and another in Hong Kong. These events generated strong sales of 874 million Baht, 8 9 and international sales are expected to be an increasing share of total sales as the brand is built and further markets are added. Ananda Development Public Company Limited Annual Report 2013 A PARTNERSHIP FOR THE FUTURE Ananda concluded a joint venture with Mitsui Fudosan, Japan’s largest real estate developer by revenue. The joint venture co-invested in the Ideo Q Chula-Samyan project, a 6.7 billion Baht sales value condominium situated near the MRT Samyan station. This first project sold out at launch. The joint venture agreement aims for at least two joint projects together per year, so many more projects to come. A DEEPENING PARTNERSHIP As well as the financial partnership, Mitsui is known as one of the most technologically advanced developers in the world. They are helping Ananda improve its technology with training of Ananda staff by Mitsui’s staff and direct technology transfer where appropriate. Mitsui has the highest customer satisfaction rating of any large developer in Japan, and a large reason for that is its proprietary 10 11 Total Quality Project Management System (TQPMS). A system that monitors over 1,700 items during construction ensuring high quality and low defects. This system is currently being studied and adopted by Ananda staff. Ananda Development Public Company Limited Annual Report 2013 To create a better quality of life by innovating urban living solutions based on mass transport systems. Life is too short for traffic. We want to give back time. So we strive to find the best locations to develop safe, high quality and affordable homes and services. Let’s live, work and play more. 12 13 Ananda Development Public Company Limited Annual Report 2013 004 Vision and Mission 016 Financial Highlights 018 Message from the Chairman 020 Message from the CEO 061 Revenue Structure CONTENTS 022 Report of the Audit Committee 062 Risk Factors 024 Board of Directors 066 General Information 026 Audit Committee 071 Shareholders Structure and Dividend Payment Policy 027 Executive Committee 073 Management 028 Nature of Business 088 Directors and Executive Management Background 057 Corporate Social Responsibility (CSR) 112 List of Directors in Subsidiaries and Associates 113 Good Corporate Governance 141 Analysis of Operating Results and Financial Positions 150 Responsibility of the Board of Directors for Financial Reporting 151 Financial Statements 14 15 Ananda Development Public Company Limited Annual Report 2013 FINANCIAL HIGHLIGHTS Statement of financial position (Unit : Million Baht) 2011 2012 2013 2011 2012 2013 Pre-sales (Million Baht) 1,539 8,854 21,083 Total Assets 8,953 9,494 12,482 Transfers (Million Baht) 5,483 4,960 8,808 Total Liabilities 9,065 4,424 6,603 Summary of Financial Status (Million Baht) Shareholder’s Equity (112) 5,070 5,879 Cash on hand 62 2,159 2,309 Total Assets 8,953 9,494 12,482 Million Baht Total Liabilities 9,065 4,424 6,603 Revenues & Net Profit 10,000 9,228 Shareholders’ equity (112) 5,070 5,879 8,000 Operational Performance (Million Baht) 6,000 Revenues 5,686 5,138 Revenue from sale of real estate 5,483 4,960 8,808 Net Profit (Loss) 4,000 Total Revenues 5,686 5,138 9,228 2,000 Gross Profit 1,209 1,654 3,432 812 - (317) (199) Selling & Administration 799 1,291 2,136 -2000 Net Profit (Loss) (317) (199) 812 2 011 2012 2013 Value/Share (Baht/Share) Book value per share NA 1.5 1.8 Million Baht Operational Performance Earnings per share NA (0.09) 0.24 25,000 21,083 Financial Ratios 20,000 Pre-sales Return on Assets NA NA 7.4% 15,000 Revenues Return on Equity NA NA 14.8% 10,000 8,808 8,854 5,483 Gross Profit 21.4% 32.4% 37.4% 4,960 16 5,000 17 1,539 Net Profit -5.6% -3.9% 8.8% 2 011 2012 2013 D/E Ratio (times) NA 0.9 1.1 Ananda Development Public Company Limited Annual Report 2013 CHAIRMAN’S STATEMENT 2013 was a year of two halves. The first half of the year saw a continuation of the rebound in the Thai economy we’d seen in 2012. The second half began with concerns over the effects of the potential beginning of the US Fed’s “tapering” of its monthly bond purchases on emerging markets, which saw foreign capital began to flow out of emerging markets, including Thailand.
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