IR Press Releases

Noble Development Public Company Limited (SET: NOBLE) today announced record breaking Q1 results, with quarterly revenue of THB 3.67 billion and net profits of THB 1.3 billion. Net margin for the quarter was in excess of 36%. Thongchai Busrapan, Chairman, Co-CEO and President, Noble Development PCL, said: “This is the Company’s best quarter with record results across almost every metric – revenue, profits, profit margin as well as Return on Equity. Overall a fantastic result for the Company and a new milestone.”

In addition, NOBLE also generated record backlog in excess of THB 2.3 billion during the quarter, with total backlog growing by 15% to THB 18.2 billion realizable over the next three years. Mr. Busrapan said: “The growth in our backlog is particularly noteworthy given that there were no new project launches during the quarter. As roughly 50% of the backlog we generated is realizable this year, this will continue to sustain our strong performance in the upcoming quarters in 2019.”

Mr. Frank Leung, Vice Chairman and Co-CEO, said: “Our decision to expand our presence in the overseas market paid immediate dividends, as the Company generated backlog of THB 1.6 billion in Q1. To put this in context, this is equivalent to 68% of the overseas sales in the entire year of 2018. As a result of this, NOBLE has firmly established itself as the market share leader in the overseas sector in Q1.”

Due to the strong earnings generated in the quarter, net debt-to-equity ratio by quarter end was 2.0. Mr. Leung said: “The effect of our interim dividend payout of THB 6.9 per share has been largely offset by the strong cashflow during this phenomenal quarter. Furthermore, we are really putting our balance sheet to work in order to maximize shareholder valuation creation, as evidenced by the fact that shareholder’s equity increased by 27% in the quarter”

Mr. Thongchai said: “Despite what has been a truly record Q1, we see this as but a first milestone in our three-year plan. Over the course of the year, the Company will be launching 4 projects with combined value of THB 18 billion, and we plan to engage in investments and strategy initiatives to broaden Noble’s appeal to a broader customer set, as well as explore investments in overseas projects. We have a truly exciting future ahead.”