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Banyan Tree is back in the black in FY22 with earnings of $0.8 mil amid travel recovery
With economies opening up and international travel resuming, hotel operator Banyan Tree Holdings B58 0.00% is seeing a pick up. For its FY2022 ended Dec 31, 2022, the group recorded earnings of $767,000, compared to a loss of $55.2 million in FY2021.
This comes on the back of a 23% y-o-y increase in revenue to $271.3 million from $221.2 million a year ago.
During the period, total costs and expenses increased by 10% y-o-y to $253.4 million, thanks to higher other operating expenses, sales and marketing expenses, administrative expenses, salaries and related expenses, as well as cost of operating supplies.
For the 2HFY2022 period, earnings came in at $253,000 compared to a loss of $12.6 million in the previous year, while revenue saw a 7% y-o-y drop to $152.7 million.
Revenue decreased during the second half due to absence of revenue from the sale of development land in Gold Coast, Australia in 2HFY2021 of S$76.2 million. Excluding the sale of development land, revenue would have increased by $64.1 million from better performance in all segments.
Hotel investments segment reported higher revenue as the group&rsquo s hotels in Thailand reported a three-fold increase in revenue over the same period last year. For the fee-based segment, revenue was $2.3 million higher due to re-opening of borders in second quarter of 2022, which resulted in improved performance from the group&rsquo s managed hotels in Malaysia and Thailand, coupled with continued strong performance from its Mexico hotels.
For the property sales segment, revenue was lower due to absence of the sale of its development property in Gold Coast and Brisbane, Australia in 2021. Excluding this sale, Revenue would have increase $41.2 million mainly due to completion and handover of Skypark condominiums building 1 and 2 in Phuket.
The group did not declare any dividends in this final year as it had not reach its pre-pandemic levels overall yet. It says that it will consider declaring a dividend in the future when operating performance and economic situation improves.
The group closed 2022 with a total of eight new hotels and 679 new keys in five countries, bringing the total portfolio to 63 properties and 8,731 keys. At the start of 2023, the group opened two properties in China, as well as a freshly rebranded Dhawa Ihuru. For the rest of the year, the group anticipates nine openings in China, Indonesia, Mexico and Vietnam.
Yes, very good set of results. But no dividen declared. Need to invest in long term.tks.
https://links.sgx.com/FileOpen/BTHL_FY2022%20Results_PressRelease_Final.ashx?App=Announcement& FileID=747744
Full Year Result Out
Nine fold increase in Operating Profit to S$41.7m, increase in Core Operating Profit to S$20.6m and PATMI of S$0.8m.
End of this month Q4 and FY2022 Results should be a stunning reversal.
Likely to clear 41 and move further North next week.
hmmm ..just saw....NAV is 56c..
look good for recovery play...
Volmax ( Date: 02-Feb-2023 15:51) Posted:
Clearing 0.38 Soon, Next Immediate Resistance 0.41.
Once Break, 0.60 OTOT.
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Clearing 0.38 Soon, Next Immediate Resistance 0.41.
Once Break, 0.60 OTOT.
many thanks! i think its quite clear the immediate catalyst is the reopening of China.
post-reopening do you think COVID would have woken management up to take a more aggressive stance on maintaining consistent net profit growth?
n3wbie ( Date: 02-Jan-2023 09:39) Posted:
I think it is clear that hospitality sector is on the recovery, as seen globally with relaxation of border restrictions. Banyan Tree has also turned the corner & returned to black with recent financials. That being said, the recovery is not even globally as there have been varying rates of reopening so it depends where & when some of the expansion (room keys) come online.
There is strong brand equity with the Banyan Tree & Angsana brands which have allowed them to be able to manage room keys without equity interest, resulting in a more asset light model in scaling the business (though this is generally the direction that most hospitality operators such as Hilton, etc are pivoting to in order to support their growth).
Banyan Tree have openings at some exotic parts of China which would be niche tourism and will probably have its fair share of visitors willing to pay a premium. There are also some openings which they have equity stakes in so depreciation will impact their financials (non-cash) as they come online.
Personally I like the company & the stock but frankly, they have not been communicating their investment thesis well (nor much) so I am not sure how important they value investors engagement. They also have a relatively small free float given that owner + QIA have substantial stakes in the company, of which the stock would also benefit if the market sees more value-add from these strategic shareholders.
Just my feeble attempt at some observations after following the company for a while now. Hope useful and welcome any thoughts you / rest might have.
cloudy.mountain ( Date: 31-Dec-2022 12:58) Posted:
| what do u guys think the company is gonna do going forward? to be honest I am not sure if Thailand business has turned profitable yet |
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to be honest, read all these every year roughly the same thing right. management' s articulation of their plans vis-a-vis their execution seems like got a gap is quite evident from how the share price had trended since its listing. which is why i feel this stock requires more than just reading what management is comfortable with disclosing. just my two cents
Volmax ( Date: 02-Jan-2023 00:37) Posted:
Please read the Company Annoucement on Business Update and Ongoing Development Plan.
Perhaps last year Annual Report will give you a better ideas of the Group' s Prospect Going Forward.
https://investors.banyantree.com/PDF/Annual_Reports/2021/BTH_AR2021.pdf
cloudy.mountain ( Date: 31-Dec-2022 12:58) Posted:
| what do u guys think the company is gonna do going forward? to be honest I am not sure if Thailand business has turned profitable yet |
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Broke 355 Resistance, Next Week Revisit 40 cents.
Northbound Train Moving Off.
Get Your Ticket Ready!
I think it is clear that hospitality sector is on the recovery, as seen globally with relaxation of border restrictions. Banyan Tree has also turned the corner & returned to black with recent financials. That being said, the recovery is not even globally as there have been varying rates of reopening so it depends where & when some of the expansion (room keys) come online.
There is strong brand equity with the Banyan Tree & Angsana brands which have allowed them to be able to manage room keys without equity interest, resulting in a more asset light model in scaling the business (though this is generally the direction that most hospitality operators such as Hilton, etc are pivoting to in order to support their growth).
Banyan Tree have openings at some exotic parts of China which would be niche tourism and will probably have its fair share of visitors willing to pay a premium. There are also some openings which they have equity stakes in so depreciation will impact their financials (non-cash) as they come online.
Personally I like the company & the stock but frankly, they have not been communicating their investment thesis well (nor much) so I am not sure how important they value investors engagement. They also have a relatively small free float given that owner + QIA have substantial stakes in the company, of which the stock would also benefit if the market sees more value-add from these strategic shareholders.
Just my feeble attempt at some observations after following the company for a while now. Hope useful and welcome any thoughts you / rest might have.
cloudy.mountain ( Date: 31-Dec-2022 12:58) Posted:
| what do u guys think the company is gonna do going forward? to be honest I am not sure if Thailand business has turned profitable yet |
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Please read the Company Annoucement on Business Update and Ongoing Development Plan.
Perhaps last year Annual Report will give you a better ideas of the Group' s Prospect Going Forward.
https://investors.banyantree.com/PDF/Annual_Reports/2021/BTH_AR2021.pdfcloudy.mountain ( Date: 31-Dec-2022 12:58) Posted:
| what do u guys think the company is gonna do going forward? to be honest I am not sure if Thailand business has turned profitable yet |
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what do u guys think the company is gonna do going forward? to be honest I am not sure if Thailand business has turned profitable yet
I agree - 90% have itchy fingers and when they buy and it drops they say - I am here for the long term - Lol 😂
Volmax ( Date: 30-Dec-2022 18:37) Posted:
I doubt many Bro will be disciplined enough to hang around Mr. Market for the next 3 - 6 months, without playing with their little ichy fingers.
Adrianinsing ( Date: 30-Dec-2022 17:25) Posted:
You have totally summed it up ! 100% fact.
Totally correct - with a deep global recession about to hit and future growth likely to be suppressed by this recession- it is time to avoid all shares and to sit on cash - at least until the end March 2023 |
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Portfolio managers however cant afford to stay on the sidelines given that they are managing other peoples' money so to a certain extent, market participation led by institutional players will always be there, we just got to stay nimble!
Volmax ( Date: 30-Dec-2022 18:37) Posted:
I doubt many Bro will be disciplined enough to hang around Mr. Market for the next 3 - 6 months, without playing with their little ichy fingers.
Adrianinsing ( Date: 30-Dec-2022 17:25) Posted:
You have totally summed it up ! 100% fact.
Totally correct - with a deep global recession about to hit and future growth likely to be suppressed by this recession- it is time to avoid all shares and to sit on cash - at least until the end March 2023 |
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I doubt many Bro will be disciplined enough to hang around Mr. Market for the next 3 - 6 months, without playing with their little ichy fingers.
Adrianinsing ( Date: 30-Dec-2022 17:25) Posted:
You have totally summed it up ! 100% fact.
Totally correct - with a deep global recession about to hit and future growth likely to be suppressed by this recession- it is time to avoid all shares and to sit on cash - at least until the end March 2023.
Volmax ( Date: 30-Dec-2022 13:58) Posted:
Wrong Time To Be In The Market At All.
You Can Wait Another 6 Months, Till There Is Massacre & Blood Everywhere To Buy!
Meanwhile, The Dynamic Market Wait For No One!
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You have totally summed it up ! 100% fact.
Totally correct - with a deep global recession about to hit and future growth likely to be suppressed by this recession- it is time to avoid all shares and to sit on cash - at least until the end March 2023.
Volmax ( Date: 30-Dec-2022 13:58) Posted:
Wrong Time To Be In The Market At All.
You Can Wait Another 6 Months, Till There Is Massacre & Blood Everywhere To Buy!
Meanwhile, The Dynamic Market Wait For No One!
Adrianinsing ( Date: 30-Dec-2022 12:57) Posted:
| Wrong time to be buying 😊 |
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Wrong Time To Be In The Market At All.
You Can Wait Another 6 Months, Till There Is Massacre & Blood Everywhere To Buy!
Meanwhile, The Dynamic Market Wait For No One!
Adrianinsing ( Date: 30-Dec-2022 12:57) Posted:
| Wrong time to be buying 😊 |
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Wrong time to be buying 😊
Yes, it' s Sucks at 32 cents.
Wait Till It Gets To 64.
This Counter is Better Than The One Trading Millions, But Price Remain Range-Bond - Up & Down 0.5 Cent , 1 Cents Everyday For Many Months! LOL.
john_ric ( Date: 29-Dec-2022 14:04) Posted:
| share price is at pathetic 0.32. sucks. |
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