Hanoi: AMATAV reported a decrease in its first quarter 2018 results due to the impact of external factors on the Vietnamese economy, while continuing to invest in the development of projects and the installation of rooftop solar panels to support the goal of Carbon Neutrality in 2040.
According to Thai News Agency, Mr. Sukhum Pittayapibulpong, Chief Financial Officer of Amata VN Public Company Limited (AMATAV), revealed the operating results for the first quarter of 2025 that the company had total revenue of 863 million baht, a decrease compared to the same period of the previous year due to factors such as the slowdown of the Vietnamese economy, which was affected by geopolitical uncertainty, volatile energy prices, and high interest rates, affecting investor confidence and business decisions in the country.
For the income from the utility business in this quarter, it was 699 million baht, down from 946 million baht or about 26% from the same period last year. This was due to the decrease in the volume of service usage from customers. However, the real estate sales business grew satisfactorily, with income of 140 million baht, up 28%. Although the sales area decreased, the company was able to successfully increase the gross profit margin from 25% to 47%, especially in Amata City Long Thanh Industrial Estate, where the company implemented a strategy of setting appropriate prices and providing efficient services to meet the needs of investors. Total other income was 24 million baht.
'Although the Vietnamese economy is still facing external pressures, the company is confident that its financial position remains strong. At the end of the first quarter of 2025, the company had total assets of 14.6 billion baht and a decrease in total debt, reflecting the efficiency of prudent financial management and confidence in the country's long-term growth potential. According to data from the Kasikorn Research Center, Vietnam's GDP in the first quarter of 2025 expanded by 6.93%, which is lower than the previous quarter, but still considered strong compared to other countries in the region,' said Mr. Sukhum.
Amata VN currently has 2 land plots for sale in Vietnam: Amata City Ha Long Industrial Estate with a total area of 714 hectares, which is currently in the development phase 3 to accommodate future demand, and Amata City Long Thanh Industrial Estate with a total area of 410 hectares, which still has the potential for continuous expansion in the future.
The company also plans to implement a solar rooftop installation project in the industrial estate to promote environmental, social and governance (ESG) business practices, aiming for a net-zero carbon emission target by 2040, which is an important step towards sustainable growth in the future.