News Detail

Date/Time
13 Aug 2019 18:35:00
Headline
Management Discussion and Analysis Quarter 2 Ending 30 Jun 2019
Symbol
AQ
Source
AQ
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                Management Discussion and Analysis

Company name                             : AQ ESTATE PUBLIC COMPANY LIMITED
Year                                     : 2019
Quarter                                  : Quarter 2
Ending                                   : 30-Jun-2019
Note                                     :
-Translation-
SET. 020/2019    
13 August 2019

Subject: Clarification of the operating result for Q.2/2019
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.
7/2019 on 13 August 2019 at 15.00 p.m. have the information list for the Board
of Director consideration by notifying the resolution of Board of Directors
meeting to the SEC office and approved the financial statements for Q.2/2019
ended 30 June 2019 which had already reviewed by the certified public
accountant.
The AQ Estate Public Company Limited hereby reported its operating results for 
Q.2/2019, the net loss amounted to 46.87 million baht which the net profit is
18.69 in the same period of 2018. The loss increased 65.56 million baht from
prior year, causing the loss more than 20 % due to the following reasons.
                
             Unit: Million Baht
     Q2-62    Q2-61    Increase (Decrease)    % Increase (Decrease)
Revenues from Sales and Services    83.59     95.48     (11.89)    (12.45)
Cost of Sales and Services    84.06     77.17     6.89     8.93
Gross Profits    (0.47)    18.31     (18.78)    (102.57)
Other Incomes    34.10     74.78     (40.68)    (54.40)
Expenses    80.54     74.42     6.12     8.23
Finance Costs    16.00     37.00     (21.00)    (56.76)
Profit (Loss) for the period    (46.87)    18.69     (65.56)    (350.78)

1.    Revenue from sales and services of the company and its subsidiaries amounted 
83.59 million baht in Q.2/2019, compared with the same period of 2018, amounting
to 95.48 million baht, a decrease of 11.89 million baht or 12.45 %. In
reference to the revenues from property sales amounted to 55.71 million baht in
Q.2/2019 and in 2018, amounting to 73.82 million baht, a decrease of 18.11
million baht or 24.53% due mainly to houses sales had dropped.
2.    Revenues from hotel businesses and services of company and its subsidiaries 
amounted to 22.35 million baht in Q.2/2019, an increase of 6.28 million baht or
39.09 % from the same period of 2018 due to hotels in Chiang Mai have improved
their performance and the subsidiary company had opened service of Alix, Soi
Soonwijai thus, resulting in more revenues.
3.    Other incomes of company and its subsidiaries amounted to 34.10 million baht 
in Q.2/2019, a decrease of 40.68 million baht from 2018 or 54.40%. The main
reason was that the company recorded penalty income for delayed product delivery
 in 2018.
4.    Cost of sales and services amounted to 84.06 million baht in Q.2/2019, 
compared with the same period of 2018, amounting to 77.17 million baht, an
increase of 6.89 million baht or 8.93 % because the subsidiaries company had
increased cost of hotel business in 2019 by recording depreciation in newly
opened hotel.
5.    Gross profit of company and its subsidiaries amounted to (0.47) million baht 
in Q.2/2019, compared with amounting to 18.31 million baht in the same period of
2018, a decrease of 18.78 million baht, representing 102.57% due to the company
has decreased sales of real estate in Q.2/2019 and the company recorded
depreciation from new hotel business, which still had the insufficient income to
 cover with depreciation.
6.    The total of selling and administrative expenses amounted to 80.54 million 
baht in Q.2/2019 In the same period of 2018 was 74.42 million baht, an increase
of 6.12 million baht or 8.23% due to the company had reserved the provision
employee benefits under labor law that retired employees changed from 300 days
to 400 days.

In reference to the reasons as mentioned above, the company and its subsidiaries
 had net loss in amount of 46.87 million baht in Q.2/2019.

Please be aware and please spread further.

Yours Sincerely,

(Mr. Suthad Chankingthong)          (Ms. Ranchana Rajatanavin)
 Director                                            Director
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