Dusit Thani reported a profit of 249 million baht in Q1/69, a 419% increase, driven by its hotel and residential projects.

Dusit Thani Group reported total revenue of 3,270 million baht in Q1/69, a 37% increase, and a profit of 249 million baht, a 419% increase. The hotel business and the Dusit Central Park residential project contributed to this growth. The group maintains its full-year revenue growth target of 5-8%.

Date 18 May 2569 Dusit Thani Public Company Limited (DUSIT) The company revealed its first quarter 2569 financial results, reporting total revenue of 3,270 million baht, a 37.3% increase from the same period last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 860 million baht, and net profit was 249 million baht, a 419% increase. In the first quarter, the company's hotel business generated 1,917 million baht, a 12.5% ​​increase from the same period last year.

Mr. Chanin Tonawanik, Chief Executive Officer of Dusit Thani Group Public Company Limited. Dusit Thani Group revealed that its first-quarter 2569 performance grew amidst pressure from global geopolitical conflicts. This was supported by increased hotel revenue and the handover of residential units in the Dusit Central Park project. Significant revenue growth and efficient management of fixed costs resulted in expanded operating profit margins, with EBITDA, reflecting the actual operating profitability of the business, increasing significantly.

Although the number of international tourists visiting Thailand decreased in the first quarter of this year, Dusit Thani Group's hotel revenue continued to grow, reflecting its effective portfolio management and customer base diversification. Hotel investments by the group saw a 17% increase in average revenue per room (RevPAR) compared to the same period last year, driven by higher occupancy rates and average room rates, particularly at Dusit Thani Bangkok.

While overall revenue from hotel management services continued to grow year-on-year, the impact of the conflict in the Middle East at the end of the first quarter resulted in a decrease in revenue from hotel management in the region. Going forward, the company will closely monitor the situation and continuously adjust its operational strategies to mitigate the impact by focusing more on regional and domestic tourists. Furthermore, the company will continue to implement efficient cost management measures to maintain profitability in this challenging environment.

For 2569, Dusit Thani Group maintains its forecast for total revenue growth (excluding the handover of residential units in the Dusit Central Park project) at 5-8%, and expects EBITDA to be in the range of approximately 18-20% of total revenue. A key challenge remains global geopolitical factors; however, a positive recovery in these areas would lead to increased global travel and tourism, positively impacting Dusit Thani Group's business in the coming period.

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