CPN Reports Q1 Profit of 4.97 Billion Baht, Up 18% as Tourism Recovery Accelerates

Central Pattana PLC (CPN) announced strong Q1 2025 performance with total revenue of 13.352 billion baht and net profit of 4.971 billion baht, representing 18% growth compared to the previous year. The company is pursuing its 'A Future-Led Ecosystem' vision to develop mega-scale projects and landmark masterplans nationwide, creating vibrant neighborhoods and cities while driving economic growth, tourism, and quality of life across the country. CPN aims to elevate Thailand into a global destination through world-class events and attractions throughout the year.

Naparat Srivannawit, Chief Financial Officer and Managing Director of Finance and Hotel Business Group at CPN, stated that Q1 2025 domestic consumption showed recovery signals supported by improved consumer confidence. The tourism sector's revival, particularly with returning visitors from China and India, has stimulated spending nationwide. CPN's retail-led mixed-use development strategy and festival and experience economy initiatives through year-round events have continued to drive traffic and spending in shopping centers.

The company achieved record margins with gross profit margins of 62% for rental and service businesses and 61% overall gross margin. Hotel operations, particularly Centara and GO! Hotel brands, continue to perform strongly. In Q1, CPN announced a major transformation of Central Pinklao with an investment exceeding 1.7 billion baht, rebranding it as 'The New Soul of Pinklao' and featuring 500 brands across 360,000 square meters. The company also launched Marketplace Thonglor, a new community mall concept in the heart of Thonglor.