Central Pattana breaks records! achieving an All-Time High performance across all business groups in 2024

Ms.Wallaya Chirathivat, President & CEO, Central Pattana Plc., said:

"With the record-breaking performance in 2024 across all dimensions—revenue, net profit, shareholder returns, dividend payouts, and new highs in all business groups—the success of the Retail-Led Mixed-Use Development strategy is clearly proven. This strategy has been the right approach to driving sustainable growth, enabling both Retail and Non-Retail businesses to thrive together. At the core of this synergy are our shopping centres, which seamlessly connect with our key business pillars: residential, hotels, and office buildings. Together, they form 'The Ecosystem for All'—a strong and sustainable system that creates value and drives growth for all stakeholders, including customers, partners, shareholders, employees, society, and communities."

Ms.Naparat Sriwanvit, Chief Finance, Accounting and Risk Management Officer Central Pattana Plc., said: "The company's performance in 2024 showed excellent growth across all business groups, including shopping centres, residential projects, office buildings, and hotels nationwide. The company reported record-breaking financial results for 2024, with total revenue of 51,843 million baht and net profit of 16,729 million baht, reflecting an 11% increase from the previous year. The company also announced return on equity of 15%, with a record-high dividend of 2.1 baht per share. With a strong financial position, the company is well-positioned to drive investments for sustained growth and high shareholder returns. Guided by a long-term vision, it remains committed to sustainable business practices, continuous investment, financial stability with strong discipline, and effective strategies that deliver outstanding returns to all stakeholders."

Retail-led mixed-use model drives all business groups to new heights, defying market challenges

• Retail stores see sales growth, with massive increases in shopping centre traffic and tourist numbers: Reinforcing its leadership as the Top Retail Destination, housing the most extensive collection of global brands, the company builds confidence among tenant brands choosing to expand their business with Central shopping centres nationwide, enabling these brands to grow and achieve top-ranking sales performance. Committed to being a landmark festive destination, Central Pattana creates successful campaigns across all branches nationwide year-round, attracting over 500 million visits annually to its shopping centres, including more than 67 million tourist visits per year. More than half of all tourists entering Thailand—from China, Russia, Saudi Arabia, Malaysia, and beyond—visit Central shopping centres, driving double-digit traffic growth for tourist malls nationwide. The company also announces the successful opening of two major mixed-use developments, Central Nakhon Sawan and Central Nakhon Pathom, which have received an overwhelming response.

Beyond Retail: Record-High Performance in Residential, Office, and Hotel businesses. Non-retail businesses continued their strong growth, achieving all-time-high performance alongside record-breaking retail revenues.

• Residences, homes, and condos soar, defying the real estate market: Condos connected to Central shopping centres are highly popular, with both ESCENT Nakhon Sawan and ESCENT Nakhon Pathom selling out rapidly. This reflects growth amid challenges, deviating from overall trends in the real estate market.
• Office and business remain strong contrary to market trends, with an occupancy rate of 90% (by the end of 2024): Offices connected to shopping centres perfectly fulfill comprehensive lifestyle needs. All 10 locations around Bangkok, including centralwOrld Offices, located in the city centre, continue to maintain their position as the top choice, experiencing exceptional demand and remarkable success.
• Hotel business sets a new record in revenue, strengthening mixed-use projects: Led by Hilton Pattaya, which achieved all-time-high room rates, RevPAR (Revenue Per Available Room), and revenues, Centara hotels in Korat, Ayutthaya, Udon Thani, and Ubon Ratchathani all showed excellent performance. This includes the latest brand launch of Hilton Garden Inn Rayong, located in a prime location adjacent to Central Rayong, the largest lifestyle destination in the province.

In addition, positive macroeconomic factors are contributing to business growth from four key areas: 1) Increased government budget disbursement, especially for investment projects 2) Continued growth in private sector consumption and investment 3) Recovery in tourism and related industries and 4) Expected continuous growth in exports in 2025, with consumer spending projected to rise by 3.3% from 2024.

Central Pattana is confident in positive economic trends, continues to invest according to its business plan, focusing on expanding projects in various areas to be part of developing and driving economic growth across all regions of Thailand. In 2025, the company is ready to move forward with strong management strategies and financial position, creating growth and investing fully according to plan, with preparations to launch the world-class mixed-use project "Central Park" including both shopping centre and office buildings, and the "Central Krabi" project to create a new landmark that fulfills every dimension and elevates the potential of a world-class tourist city.

As of Q4/2024, Central Pattana operates a total of 42 shopping centres (40 Central shopping centres - 16 in Bangkok and perimeter, 23 in provincial Thailand, 1 in Malaysia, 1 Esplanade and 1 Mega Bangna), and 15 community malls with a combined net leasable area of 2.3 million sqm. In addition, Central Pattana operates 37 food courts, 10 office buildings, 10 hotels and 43 residential projects.

Central Pattana reinforces its position as a global sustainability leader, operating toward the Net Zero 2050 goal by ranking in the Dow Jones Best in Class Indices among 244 real estate companies worldwide and maintaining membership in the DJSI World index for the 7th consecutive year and in the DJSI Emerging Market for the 11th consecutive year. Additionally, the company has pioneered Finance & Sustainability innovation as the first Thai real estate company to initiate 'Green Bond' and Sustainability-Linked Loan' issuances, while also earning the 'AAA' level SET ESG Rating sustainability standard.