Bangkok, 3 March 2015 – Thailand’s leading luxury real estate company, Raimon Land Public Company Limited, delivered another year of record financial performance in 2014, with annual net profits of THB 1.2 billion, representing an increase of 64% Y-o-Y.
The firm recognized revenue of THB 6.6 billion for the full year, representing an increase of 15% Y-o-Y.
As a result of effective execution across all business units, gross and net margins expanded to 41.5% and 18.4% respectively. As a result, the company has now eliminated all retained losses from the past, and Q4 2014 marked the 11th straight consecutive quarter of profits.
Furthermore, the company’s interest-bearing debt to equity ratio now stands at 1.0x, a significant reduction from 2.4x at the end of Q4 2013.
Strong Bookings and Sales
Sales across all of Raimon Land’s current properties have continued strongly in 2014, a reflection of the company’s strength in the premium segment, and confidence of clients in the quality of the brand’s developments.
The company recorded strong bookings across all current properties for the year, with robust demand in the Thai market for the high-end sector. Meanwhile, sales at 185 Rajadamri have set new records for the highest price per square meter achieved to date in Thailand, with prices hitting well north of THB 400,000 per square meter.
The prudent policy of requiring 25 to 40% deposits of the selling price has maintained a very low transfer-failure rate (approximately 1%) which has continued to ensure a high proportion of owners and investors who are committed long-term to each development.
In particular, sales for Zire Wongamat have reached 91%,with transfers commencing in Q4 2014, 185 Rajadamri is now 89% sold with 60% of sales value transferred. The River is now 94% sold with 95% of sales value transferred.
Repeat customers represent over 35% of pre-sales, reflecting the confidence clients have in the Raimon Land brand.
Recognized Leader in Premium Segment
Raimon Land is effectively reaching and selling Thai property to both local and international markets. The company will continue to maintain its strong position as the leading real estate company for high-end residential property through landmark developments, ongoing partnerships and targeted initiatives.
The Collection – Penthouses by Raimon Land and the Limited Edition initiatives are positioned to capture a new audience in the premium market segment, which Raimon Land has already proven to be successful. Marketed as an exclusive offering, these bespoke properties are sold as premium homes for discerning home owners looking to purchase the best of the best. Mews Yen Akat is an upcoming Limited Edition landed estate scheduled for launch in mid-2015 which will continue to position Raimon Land at the forefront of refined living. The company has already received registration of interest well above expectation from prospective buyers.