Quality Houses : Analyst Meeting Quarter 1/2024

Analyst Meeting 1Q24

May 2024

Executive Summary of 1Q24 Performance

1,687 MB	1,336 MB
Presales -18%YoY	Transfer	-16% YoY

26.0% 30.6%

%SG&A

+2.6% YoY

%Net Profit -0.7%YoY

- MB 1

Launched

- projects

Closed

projects

30.9%

%GP

-2.7% YoY

0.39

IBD ratio

-0.01% YoY

503 MB

Land Capex Low rise

2

1Q24

Operating Highlight

Presales & Transfer 1Q24

Presales

		MB
2,048	1,161	1,687
289		111
	75
1,759	1,086	1576
1Q23	4Q23	1Q24

Transfer	MB

1,590	1,916	1,336
135	149
	74
1,455	1,767	1,262
1Q23	4Q23	1Q24

Condo

Housing

+45% QoQ -18% YoY

-30% QoQ

-16% YoY

4

Project Launch in 2024

2Q24

Casa Ville Teparak - Thanasit

SDH Mid-End 2,533 MB

TH Mid-End 1,282 MB

Q District

Ratchaphruk -

Rattanathibet

2Q24

4Q24	4Q24
Laddarom Wong Waen	Laddarom Phutta
Ramintra 2	Monthon Sai 3 - 2
SDH	SDH
Hi-End	Hi-End
1,763 MB	2,923 MB

TH
Total Value
Mid-End
9,804 MB
1,303 MB
Q District Tiwanon -	Hi-End :Mid-End
Rangsit	48% : 52%
4Q24

5

Active Projects & Backlog 1Q24

As of 1Q24

Remaining Projects	Remaining Value (MB)
67 projects	39,418 MB

12

		10,188
	33	18,978
22		10,252

Type	Status
DH	Prebuilt
TH	Prebuilt
Condo	Presales

Remaining Project Location

9%16%

91% 84%

Low Rise	Condo
Bangkok & Greater Bangkok	Provinces

	Backlog
2022	604		62	666
2023	471	13	484
1Q24	766			47	813
	Low rise		Condo

6

1Q24

Financial Highlight

Financial Highlight

Unit: MB		1Q24	4Q23	1Q23	QoQ	YoY
Revenue
Property for sales	1,336	1,916	1,590		-30%	-16%
Low-rise	1,262	1,767	1,456		-29%	-13%
Condo	74	149	135		-50%	-45%
Property for rent	399	377	313		6%	27%
Office	31	32	34		-1%	-6%
Hotel	368	345	280		7%	32%
Other income		63	60	62		4%	1%
Total revenue		1,798	2,353	1,966		-24%	-9%
SG&A	528	589	482		-10%	9%
Equity income from associates	445	440	452		1%	-2%
Net profit	490	607	592		-19%	-17%

8

Equity Income from Associates

Equity Income, 445 MB	7% 4%	HMPRO	340 MB	+6.3% YoY
	12%
		LHFG	55 MB	-40.5% YoY
		QHPF	31 MB	+12.9% YoY
	77%	QHHR	18 MB	+45.8% YoY

Market Value (MB) per QH Stake

As of 31 Mar 2024

	27,698
						32,188
			2,881	925	684
		HMPRO	LHFG	QHPF	QHHR	Total
QH Stake	20%	14%	26%	31%	9

Financial Ratio

Financial Ratio
Gross profit margin	1Q24	4Q23	1Q23
Property for sales	30.9%	31.6%	33.6%
Low-rise	32.2%	33.7%	34.2%
Condo	8.3%	7.0%	26.6%
Property for rent	46.3%	43.7%	42.1%
Office	64.9%	54.3%	54.7%
Hotel	44.7%	42.7%	40.6%
Total	34.5%	33.6%	35.0%
SG&A to total revenue (%)	26.0%	20.2%	23.4%
Net profit margin (%)	30.6%	30.7%	31.3%
(excluding extra gain and provision)

10