WHA Group shows a strong growth on net profits in 2019, over 3,200 million Baht Normalized net profit growth at 21% Approval of dividend payment at 0.0535 Baht/share – XD on 8 May 2020

Bangkok - WHA Corporation Public Company Limited or WHA Group announces solid performance in 2019, with total revenue and share of profits from investments in associates and joint ventures at 13,385.8 million Baht and the net profit of 3,229.3 million Baht with normalized net profit growth at 21.1%. Ms. Jareeporn Jarukornsakul, Chairman of the Board of Directors and Group CEO, reveals that the overall business in 2020 will continue to expand, benefitting from trade diversion out of China as a result of trade war. The Group targets to achieve the revenue growth of 15-20% in 2020 and focus on investments in both domestic and overseas expansions across the Group, emphasizing its fully-integrated in logistics, industrial estate, utilities and power in ASEAN.

Ms. Jareeporn Jarukornsakul, Chairman of the Board of Directors and Group CEO of WHA Corporation Public Company Limited or WHA Group, a leading provider of fully-integrated logistics, industrial estate, utilities and power, and digital platform, reveals that the 2019 performance as of 31 December 2019, the company’s revenue and shares of profits from investments in associates and joint ventures is worth a total of 13,385.8 million Baht and net profits worth of 3,229.3 million Baht with normalized net profits growing 21.1%.

The growth of the business performance in 2019 derived from the increase of income from land transfer from the total land sales of 1,010 rai over the past year. About 70% of the land sales came from Chinese and Taiwanese investors who have relocated their production base to Thailand due to the global trade war and the rising production cost in China, emphasize that Thailand is the regional production hub. Also, the government supporting to promote investment in the Eastern Economic Corridor (EEC) helps boost up the overall investment in Thailand continuously.

In addition, new rent from the logistics business has grown as planned with the total building rent of 250,000 square meters as a result of the increase of e-commerce customers in the country, resulting in the demand for warehouse buildings to support the expansion of the e-commerce business.

Meanwhile, the company’s revenue from the utility business has increased due to the increase in sales volume and water services that serve the water demand of industrial estate customers. In 2019, WHA Group invested in the utility business in Vietnam by acquiring the shares of a biggest tap water operator in Hanoi, which is an important expansion in boosting up overseas coverage and revenue from the utility business significantly. For power business, the company has commenced a Commercial Operation Date (COD) of the 8.63 megawatts industrial waste power plant, which is the first operator in Southeast Asia that meets the European Emission Standards at the end of 2019.

In addition, the company’s Board of Directors has approved the additional dividend payment the year 2019 at the rate of 0.0535 Baht per share, reflecting on healthy performance in 4Q2019. The XD date is set on 8 May 2020 and the date of dividend payment will be on 25 May 2020, respectively.

Chairman of the Board of Directors and Group CEO of WHA Group says that for the overall business in 2020, the company has targeted to achieve the revenue growth of around 15-20% comparing to the previous year, emphasizing to be the number one in most of its core businesses, while also expanding its four businesses overseas, which includes

• - WHA Logistics: In 2020, it aims to lease the building at 250,000 square meters, which will expand the total warehouse space under its ownership and management to 2,560,000 square meters. In addition to the existing warehouse spaces in Thailand and Indonesia, the company is also looking for additional business opportunities in Vietnam. It also plans to sell assets of about 150,000 square meters to REIT.
• - WHA Industrial Development (WHAID) is in the process of developing the 11th industrial estate of the group (WHA Industrial Estate Rayong 36) in the late 2020 and expand WHA Eastern Seaboard Industrial Estate 4 and develop three more industrial estates in 2023. For Vietnam, it will accelerate the sales continuously with the aim to sell 1,400 rai of land both domestic and overseas in 2020.
• - WHA Utilities and Power (WHAUP) will emphasize on high value product such as reclamation water and demineralized water. It will also expand energy portfolio into innovative energy solutions, especially, smart microgrid, peer-to-peer energy trading and energy storage. Solar rooftop business aims to start COD another 31 megawatts from the existing contracts of 35 megawatts both within WHA Group and outside the industrial estates and reach 590 equity megawatts in 2020.
• - WHA Digital Platform continue to support all 3 business hubs in enhancing digital infrastructures as well as undergoing digital transformation aims to support all kinds of business operations in every hub of the group. By the end of 2020, Fiber Optic (FTTx) will be installed, covering some areas in 9 out of the 10 industrial estates in Thailand.