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Ananda Development PCL announces record net profits of 2.4 billion Baht, up 82% on previous year. Delivers all-time high transfers for the year at 33.2 billion Baht, an 120% increase on previous year. Announces record dividend, up 99% on previous year.

          Ananda Development Public Company Limited announces 2018 transfers increased 120% year on year to 33 billion Baht for the year of 2018 to an all-time high record supporting by an all-time high international transfer of 6.3 billion Baht, up 300% over 2017. The company efforts on the business growth in the form of joint venture projects with our strategic partners, Mitsui Fudosan recognized its performance as shares of profit from joint ventures. Furthermore, the company's net profits were 2,419 million Baht for the year to an all-time high record, an increase of 82% year on year mostly due to the significantly higher core profit driven by shares of profit from joint venture projects. The company also released a business plan for 2019 during which it expects launches to grow by 42% delivering the results the company expected as the leader in the mass transit condominiums.
          During the fourth quarter the company launched 6.4 billion Baht of new projects. Comprising a new condominium project worth the 5.6 billion Baht Ideo Mobi Sukhumvit Eastpoint condominium project near the Bangna BTS station and the 0.8 billion Baht Unio Town Suksawat 30 housing project. 
          In 2018 the company launched a total of 6 new condominium and 6 new housing projects, with a total project value of 26.8 billion Baht as planned and it expects higher launches in 2019 due to our capital cycles.
          The company expanded its international sales in 2018 with successful international sales both new launches and existing projects with sales of 10,119 million Baht higher than its 2017 international sales by 4% bringing us into all-time high international sales for the year 2018. In addition, its international customers remain strong with combined transfers of 6.3 billion Baht, up 300% from the previous year.
          The company ended the quarter with a large backlog of 41 billion Baht due to transfer over the next 3 years.
          Normally, we have condominium sales rate over 90% unsold inventories are cleared within 3 years of launch. This is consistent over the past several years. In addition, almost 70% of our total unsold inventories both condominium and housing projects are under construction and expected to sell to support and maintain our business growth.
          In 2019, the company has continued the business strategy to develop condominium next to the mass transit station with more caution which continues to build a trust from our strong partner, Mitsui Fudosan, making the company the number one with the largest joint venture development value in Thailand. 
          Mr. Chanond Ruangkritya, CEO of Ananda, said, "We're delighted to have hit record highs for all of the company's major metrics, transfers, profits and presales diversified customer base from international customers. "Our cash flow remains strong and we have maintained a large cash balance at the end of the quarter. We have continued to have strong support from our banks and have multiple options in place to fund the cash needs of the company through the year depending on how the situation evolves."
          The company expects to keep its preferred measure of leverage, Net Interest-Bearing Debt to Equity below 1:1 for the year at management's long-term target.
          The company released its business plan for 2019 as the company's capital cycle the year will see an increase in new projects launched with a total project value of new launches projected to increase by 42% to 38 billion Baht in 2019 compared to 26.7 billion Baht in 2018. The company will launch 10 new projects. 8 of the projects will be condos, 7 of which will be joint ventures and 2 projects will be housing. The company expects total presales for the year to increase by 14% to 36 billion Baht in 2019 compared to 31.5 billion Baht in 2018.
          It stated that it expects total residential transfers to increase by 9% to 36 billion Baht with the contribution from 10 new condominium buildings finishing construction and beginning to transfer throughout 2019 in addition to remaining units from the 10 condominiums that finished in 2018.
          The company also expanded recurring income business to sustain the business growth in the long run; therefore, five serviced apartment projects had been secured lands. In addition, the company invested 5% share in DTC (Dusit Thani PCL), aiming at building long-term relationship as one of its strategic partners.
          As such, the Board will submit for approval to the Annual General Meeting a recommendation to increase the dividend to 25.40 satang, an increase of 99% from a year earlier and continuing our record of increasing the dividend every year since the IPO."

          About Ananda Development PCL
          Ananda is a publicly listed real estate development company listed on the Stock Exchange of Thailand (Symbol: ANAN) 
          The company is the leading developer in Thailand of residential condominium projects within 300 meters of mass transit stations. The company also develops landed housing projects in Bangkok.
          Ananda's primary brands are "IDEO" condominiums, situated within 300 meters of a mass transit station, which are targeted at first home buyers and professionals who value modern design, convenience and ease-of-access when choosing a place to live, and "ELIO" condominiums, situated within 600 meters of a mass transit station, which are aimed at those who want the IDEO lifestyle but at a lower cost. In addition, "UNIO" condominiums are developed which super-value condominiums with 8-storey at starting price below 1 million Baht and "VENIO" condominiums are developed which premium-value condominiums with 8-storey.