News Detail

Date/Time
14 May 2019 17:48:00
Headline
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2019
Symbol
AQ
Source
AQ
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                Management Discussion and Analysis

Company name                             : AQ ESTATE PUBLIC COMPANY LIMITED
Year                                     : 2019
Quarter                                  : Quarter 1
Ending                                   : 31-Mar-2019
Note                                     :
-Translation-
SET. 014/2019
            
    14 May 2019

Subject: Clarification of operating result for Q.1/2019
To:    Directors and the Manager
                The Stock Exchange of Thailand
C.C.      Secretary of the SEC Office
  
The Board of Director meeting resolution of AQ Estate Public Company Limited No.
5/2019 on 14 May 2019 at 16.00 p.m. have the information list for the Board of
Director consideration by notifying this resolution of Board of Directors
meeting to the SET office and approved the financial statements for Q.1/2019
ended 31 March 2019 which had already reviewed by the certified public
accountant.

The AQ Estate Public Company Limited hereby reported its operating results for 
Q.1/2019,
the net loss amounted to 43.61 million baht in the same period of 2018 with net 
profit
of 22.55 million baht. The net loss increased from the year 2018 of 66.16 
million baht, making
the loss more than 20 % due to the following reasons.

             Unit: Million Baht
     Q1-19    Q1-18    Increase (Decrease)    % Increase (Decrease)
Revenues from Sales and Services    276.86     169.11     107.75     63.72
Cost of Sales and Services    234.25     126.88     107.37     84.62
Gross Profits    42.61     42.22     0.39     0.92
Other Incomes    32.93     48.31     (15.38)    (31.84)
Expenses    119.16     67.98     51.18     75.29
Finance Costs    36.00     46.00     (10.00)    (21.74)
Profit (Loss) for the period    (43.61)    22.55     (66.16)    (293.39)

1.    Revenue from sales and services of the company and its subsidiaries in the 
first quarter of 2019 amounted to 276.86 million baht, compared with the same
period of 2018, amounting to 169.11 million baht, an increase of 107.75 million
baht or 63.72 % due to the revenues from property sales amounted to 241.80
million baht in Q.1/2019 and in 2018, amounting to 136.04 million baht, an
increase of 105.76 million baht or 77.74%. The main reason was that sales of
houses had increased.
2.    Revenues from hotel businesses and services of company and its subsidiaries 
for the first quarter of 2019 amounted to 29.94 million baht, an increase of
1.95 million baht or 6.98% from the same period of 2018, due to hotels in Chiang
Mai have performance better and the subsidiary company opened hotel service of
Alix, Soi Soonwijai therefore makes more incomes.
3.    Other incomes of company and subsidiaries amounted to 32.93 million baht in 
Q.1/2019, a decrease of 15.38 million baht from 2018 or 31.83%. The main reason
was that incomes from interest and other businesses declined in 2019.
4.    Cost of sales and services amounted to 234.25 million baht in Q.1/2019, 
compared with the same period of 2018, amounting to 126.88 million baht, an
increase of 107.37 million baht or 84.62% because of company and its
subsidiaries had increased of property sales in 2019.
5.    Gross profit of company and its subsidiaries amounted to 42.61 million baht 
in Q.1/2019, compared with the same period of 2018, amounting to 42.22 million
baht, an increase of 0.39 million baht, representing 0.92% because the company
had increased sales of property in the first quarter of 2019.
6.    The total of selling and administrative expenses amounted to 119.16 million 
baht in the first quarter of 2019. In the same period of 2018 was 67.98 million
baht, an increase of 51.18 million baht or 75.28% due to increased sales,
resulting in higher selling expenses and administrative expenses increased
according to economic conditions.

From reasons as mentioned above, the company and its subsidiaries had net loss 
in amount
of 43.61 million baht in the first quarter of 2019.

Please be aware and please spread further.
Yours Sincerely,
(Mr. Suthad Chankingthong)        (Ms. Ranchana Rajatanavin)
Director                                            Director
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