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AEONTS announced FY2016 a net profit of 2,403 MB and 1.85 Baht Final Dividend.

BackApr 26, 2017

Bangkok, April 26, 2017 - Mr.Kiyoyasu Asanuma, Managing Director of AEON Thana Sinsap (Thailand) Public Company Limited (AEONTS) – Thailand’s consumer finance business leader – recently announced the financial results ended February 28, 2017, with total revenues of 17,759 million baht, increasing by 2% y-y, and net profit attributable to owners of the parent of 2,403 million baht or EPS of 9.61 baht per share. In the fourth quarter of 2016 the net profit of the Company amounted to 836 million baht, increasing by 30% from same period last year due to the Company ability to maintain low financial cost and a decrease in bad debt and doubtful account as well as the Company recorded extra revenue from gain on sales of written-off account receivable an amount of 346 million baht in this quarter.

Total consolidated revenues amounted to 17,759 million baht, increasing by 2% from last year. Main business generated from credit card 37%, loans 51%, hire purchase 2%, and others 10%, respectively. While total expenses recorded at 14,737 million baht, increasing by 3% y-y. As a result, the Company recorded a net profit at 2,403 million baht, decreasing by 2%y-y. However, the Company has set aside higher allowance for doubtful accounts to reserve for economic uncertainty and natural disaster.

The Thai economy in 2016 gradually recovered from 2015 as a result from acceleration of government expenditure and the recovery in both of farm income and export sector as well as the household consumption has been improved, which was supported by the government stimulus measures at the end of 2016. The Company has cooperated with many high-potential leading business partners to increase member base such as issuance of AEON M GEN Visa Card, AEON Royal Orchid Plus Platinum JCB Card and launched privileges and campaigns to AEON credit cardholders throughout the year. For example the campaign “AEON Happy Plan” which offering credit cardholders to convert the transaction from full payment to installment payment for up to 10 months, “AEON Gift 2017” AEON card holders register via website or SMS in order to redeem the premiums, “AEON Shop Plus” campaign was launched for credit card customers to accumulate sales slips up to required amounts for premium redemption and etc. In addition, the Company joined with Siam Commercial Bank (SCB) and launched cashing channel “Your cash” service through more than 10,000 SCB’s ATMs nationwide for AEON member cards. Therefore, AEON members can utilize the revolving loans service through many service channels besides AEONTS ATMs, other major bank ATMs and Counter Service through 7-11 nationwide. Totaling, we have more than 60,000 cashing channels.

In fiscal year 2016, The Company’s new credit cards more than 267,500 cards, increasing by 4% from last year. Totalling, we have credit card and member cards reached 7.81 million cards. For branch development network, the Company has opened 1 new branch and closed down 10 branches to save operation cost. As a result, the Company has 111 branches, opened AEON Lounge total 12 locations to facilitate gold card and platinum card members, 469 ATMs, and more than 17,400 member dealers to provide quality financial services to AEON cardholders.

In addition, the Board of Directors’ meeting has approved the final dividend payment for the fiscal year ended February 28, 2017, at the rate of 1.85 baht per share, which will be paid after being approved from AGM on June 28, 2017. The Company already paid the interim dividend of 1.60 baht per share on November 7, 2017. The total dividend for FY2017 will be 3.45 baht per share or 35.9% payout ratio. The company has set the record date on May 15, 2017 to determine the shareholders entitled to receive dividends, and setting the shareholder register book closing date on May 16, 2017, to compile the shareholder list pursuant to section 225 of the Securities and Exchange Act.