Reported Earnings • May 21
First quarter 2026 earnings released: ฿0.11 loss per share (vs ฿0.089 loss in 1Q 2025) First quarter 2026 results: ฿0.11 loss per share (further deteriorated from ฿0.089 loss in 1Q 2025). Revenue: ฿344.6m (up 7.6% from 1Q 2025). Net loss: ฿155.6m (loss widened 23% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Annuncio • Mar 17
M.K. Real Estate Development Public Company Limited, Annual General Meeting, Apr 29, 2026 M.K. Real Estate Development Public Company Limited, Annual General Meeting, Apr 29, 2026, at 14:00 SE Asia Standard Time. Reported Earnings • Mar 06
Full year 2025 earnings released: ฿0.33 loss per share (vs ฿0.75 loss in FY 2024) Full year 2025 results: ฿0.33 loss per share (improved from ฿0.75 loss in FY 2024). Revenue: ฿1.87b (up 12% from FY 2024). Net loss: ฿465.1m (loss narrowed 45% from FY 2024). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 14
Third quarter 2025 earnings released: ฿0.10 loss per share (vs ฿0.10 loss in 3Q 2024) Third quarter 2025 results: ฿0.10 loss per share. Revenue: ฿319.2m (down 15% from 3Q 2024). Net loss: ฿141.8m (loss widened 25% from 3Q 2024). New Risk • Sep 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-฿4.0b free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 43% per year over the past 5 years. Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Minor Risk Market cap is less than US$100m (฿925.7m market cap, or US$28.6m). Reported Earnings • Aug 15
Second quarter 2025 earnings released: ฿0.03 loss per share (vs ฿0.046 loss in 2Q 2024) Second quarter 2025 results: ฿0.03 loss per share (improved from ฿0.046 loss in 2Q 2024). Revenue: ฿688.1m (up 96% from 2Q 2024). Net loss: ฿39.3m (loss narrowed 23% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 43% per year, which means it is performing significantly worse than earnings. New Risk • Jul 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 9.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-฿4.3b free cash flow). Earnings have declined by 50% per year over the past 5 years. Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (9.9% average weekly change). Market cap is less than US$100m (฿1.01b market cap, or US$31.2m). Reported Earnings • May 16
First quarter 2025 earnings released: ฿0.09 loss per share (vs ฿0.48 loss in 1Q 2024) First quarter 2025 results: ฿0.09 loss per share (improved from ฿0.48 loss in 1Q 2024). Revenue: ฿395.0m (flat on 1Q 2024). Net loss: ฿126.7m (loss narrowed 76% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Annuncio • Mar 12
M.K. Real Estate Development Public Company Limited, Annual General Meeting, Apr 25, 2025 M.K. Real Estate Development Public Company Limited, Annual General Meeting, Apr 25, 2025, at 14:00 SE Asia Standard Time. Location: crowne plaza bangkok lumpini park hotel, crowne ballroom, level 21, no. 952, rama iv road, khwang, suriyawong , khet bangrak , bangkok Thailand Reported Earnings • Feb 28
Full year 2024 earnings released: ฿0.75 loss per share (vs ฿0.62 loss in FY 2023) Full year 2024 results: ฿0.75 loss per share (further deteriorated from ฿0.62 loss in FY 2023). Revenue: ฿2.26b (down 5.8% from FY 2023). Net loss: ฿844.0m (loss widened 26% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. New Risk • Feb 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 31% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (3.5% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 97% Earnings have declined by 66% per year over the past 5 years. Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Minor Risk Market cap is less than US$100m (฿2.14b market cap, or US$63.2m). Reported Earnings • Aug 15
Second quarter 2024 earnings released: ฿0.046 loss per share (vs ฿0.031 profit in 2Q 2023) Second quarter 2024 results: ฿0.046 loss per share (down from ฿0.031 profit in 2Q 2023). Revenue: ฿799.4m (down 8.6% from 2Q 2023). Net loss: ฿50.7m (down 251% from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
First quarter 2024 earnings released: ฿0.48 loss per share (vs ฿0.01 loss in 1Q 2023) First quarter 2024 results: ฿0.48 loss per share (further deteriorated from ฿0.01 loss in 1Q 2023). Revenue: ฿410.8m (down 8.2% from 1Q 2023). Net loss: ฿527.5m (loss widened ฿516.5m from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Annuncio • Apr 26
M.K. Real Estate Development Public Company Limited Approves Omission of Dividend Payment for the Company's 2023 Operating Results M.K. Real Estate Development Public Company Limited approved at its AGM held on April 25, 2024 the omission of dividend payment for the Company's 2023 operating results due to the Company performance has net loss. Annuncio • Mar 16
M.K. Real Estate Development Public Company Limited, Annual General Meeting, Apr 25, 2024 M.K. Real Estate Development Public Company Limited, Annual General Meeting, Apr 25, 2024, at 14:00 SE Asia Standard Time. Location: Crowne Plaza Bangkok Lumpini Park Hotel, Crowne Ballroom, Level 21, No. 952 Rama IV Road, Khwang Suriyawong , Khet Bangrak Bangkok Thailand Agenda: To certify the minutes of the Extraordinary General Meeting of Shareholders No.1/2024; to certify the Company’s board of directors’ performance in the past year and the 2023 annual report. (Form 56-1 One Report); to approve the Company’s annual financial statements and profit and loss statements for the year ended December 31, 2023; to approve the omission of dividend payment; to elect directors in replacement of those vacating office as their terms are due; to approve payments of remuneration and special remuneration for directors; to appoint auditors and specify remuneration for the year 2024; and to consider other matters (if any). Reported Earnings • Mar 01
Full year 2023 earnings released: ฿0.62 loss per share (vs ฿0.46 loss in FY 2022) Full year 2023 results: ฿0.62 loss per share (further deteriorated from ฿0.46 loss in FY 2022). Revenue: ฿2.94b (up 18% from FY 2022). Net loss: ฿671.9m (loss widened 33% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 16
Third quarter 2023 earnings released: ฿0.31 loss per share (vs ฿0.08 profit in 3Q 2022) Third quarter 2023 results: ฿0.31 loss per share (down from ฿0.08 profit in 3Q 2022). Revenue: ฿943.0m (down 14% from 3Q 2022). Net loss: ฿338.3m (down 486% from profit in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: ฿0.031 (vs ฿0.10 loss in 2Q 2022) Second quarter 2023 results: EPS: ฿0.031 (up from ฿0.10 loss in 2Q 2022). Revenue: ฿961.1m (up 84% from 2Q 2022). Net income: ฿33.6m (up ฿143.0m from 2Q 2022). Profit margin: 3.5% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • May 20
First quarter 2023 earnings released: ฿0.01 loss per share (vs ฿0.096 loss in 1Q 2022) First quarter 2023 results: ฿0.01 loss per share (improved from ฿0.096 loss in 1Q 2022). Revenue: ฿657.6m (up 27% from 1Q 2022). Net loss: ฿11.0m (loss narrowed 90% from 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: ฿0.08 (vs ฿0.057 loss in 3Q 2021) Third quarter 2022 results: EPS: ฿0.08 (up from ฿0.057 loss in 3Q 2021). Revenue: ฿1.10b (up 36% from 3Q 2021). Net income: ฿87.7m (up ฿150.0m from 3Q 2021). Profit margin: 8.0% (up from net loss in 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Theraphan Jittalarn was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 17
Second quarter 2022 earnings released: ฿0.10 loss per share (vs ฿0.063 loss in 2Q 2021) Second quarter 2022 results: ฿0.10 loss per share (down from ฿0.063 loss in 2Q 2021). Revenue: ฿539.0m (down 1.9% from 2Q 2021). Net loss: ฿109.4m (loss widened 59% from 2Q 2021). Over the next year, revenue is expected to shrink by 14% compared to a 20% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Reported Earnings • May 19
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: ฿0.096 loss per share (down from ฿0.094 loss in 1Q 2021). Revenue: ฿534.7m (down 9.8% from 1Q 2021). Net loss: ฿104.7m (loss widened 2.2% from 1Q 2021). Revenue exceeded analyst estimates by 6.8%. Earnings per share (EPS) also surpassed analyst estimates by 29%. Over the next year, revenue is expected to shrink by 21% compared to a 18% growth forecast for the industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Theraphan Jittalarn was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: ฿0.17 loss per share (down from ฿0.003 loss in FY 2020). Revenue: ฿3.41b (up 7.6% from FY 2020). Net loss: ฿185.3m (loss widened ฿181.9m from FY 2020). Revenue exceeded analyst estimates by 6.8%. Earnings per share (EPS) missed analyst estimates by 29%. Over the next year, revenue is forecast to grow 1.4%, compared to a 17% growth forecast for the industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 18
Third quarter 2021 earnings released: ฿0.057 loss per share (vs ฿0.12 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: ฿809.3m (up 6.8% from 3Q 2020). Net loss: ฿62.3m (down 150% from profit in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 18
Second quarter 2021 earnings released: ฿0.063 loss per share (vs ฿0.032 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: ฿549.4m (down 37% from 2Q 2020). Net loss: ฿68.9m (loss widened 96% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Reported Earnings • May 19
First quarter 2021 earnings released: ฿0.094 loss per share (vs ฿0.055 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: ฿594.6m (down 10% from 1Q 2020). Net loss: ฿102.4m (loss widened 71% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Annuncio • May 01
M.K. Real Estate Development Public Company Limited Omits Dividend Payment for the Year 2020 M.K. Real Estate Development Public Company Limited at its 2021 Annual General Meeting of Shareholders held on April 30, 2021, resolved to approve the omission of dividend payment for the Company's 2020 operating results due to the Company performance has net loss. Annuncio • Mar 13
M.K. Real Estate Development Public Company Limited, Annual General Meeting, Apr 30, 2021 M.K. Real Estate Development Public Company Limited, Annual General Meeting, Apr 30, 2021, at 07:00 Coordinated Universal Time. Location: Crowne Plaza Bangkok Lumpini Park Hotel, Crowne Ballroom, Level 21 No. 952, Rama IV Road, Khwang Suriyawong ,Khet Bangrak Bangkok Thailand Agenda: To certify the minutes of the Company%s 2020 Annual General Meeting of Shareholders; to certify the Company%s board of directors% performance in the past year and the 2020 annual report; to approve the Company%s annual financial statements and profit and loss statements for the year ended December 31, 2020; to approve the omission of dividend payment; to elect directors in replacement of those vacating office as their terms are due; to approve payments of remuneration and special remuneration for directors; to appoint auditors and specify remuneration for the year 2021; and to consider other matters (if any). Reported Earnings • Feb 25
Full year 2020 earnings released: ฿0.003 loss per share (vs ฿0.16 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ฿3.45b (down 24% from FY 2019). Net loss: ฿3.42m (down 102% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Executive Departure • Feb 03
Independent Director has left the company On the 28th of January, Malai Rachataswan's tenure as Independent Director ended after 5.8 years in the role. We don't have any record of a personal shareholding under Malai's name. Malai is the only executive to leave the company over the last 12 months. Annuncio • Jan 29
M.K. Real Estate Development Public Company Limited Announces Resignation of Malai Rachataswan as Director M.K. Real Estate Development Public Company Limited informed that Mrs. Malai Rachataswan, a Company6s Director, Independent Director, Audit Committee, Nomination and Remuneration Committee and Corporate Governance Committee has resigned from a director of the Company due to her personal reason effectively on January 28, 2021. Is New 90 Day High Low • Dec 15
New 90-day high: ฿3.28 The company is up 13% from its price of ฿2.90 on 15 September 2020. The Thai market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 19% over the same period. Is New 90 Day High Low • Nov 24
New 90-day high: ฿3.10 The company is up 7.0% from its price of ฿2.90 on 26 August 2020. The Thai market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 9.0% over the same period. Reported Earnings • Nov 18
Third quarter 2020 earnings released: EPS ฿0.12 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿1.02b (up 34% from 3Q 2019). Net income: ฿125.0m (up ฿151.2m from 3Q 2019). Profit margin: 12% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Oct 07
Upcoming Dividend of ฿0.11 Per Share Will be paid on the 26th of October to those who are registered shareholders by the 14th of October. The trailing yield of 3.6% is below the top quartile of Thai dividend payers (7.0%), and is lower than industry peers (5.7%). Is New 90 Day High Low • Sep 28
New 90-day high: ฿3.04 The company is up 12% from its price of ฿2.72 on 30 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 7.0% over the same period. 
