Financial Highlights

Balance Sheet

• As of September 30, 2024, the REIT had total assets of THB 13,622.0 million, down 58.3 million baht from the previous quarter or 0.4 percent, mainly due to a decrease of THB 28.2 million from the previous quarter in other assets. However, total assets increased by THB 50.6 million from the same period last year or 0.4 percent, respectively, mainly due to an increase of THB 98.9 million in investment in leasehold rights at fair value, resulting from additional investment in Happy Avenue Don Mueang.
• As of September 30, 2024, the Trust had total liabilities of THB 5,185.5 million, down 60.8 million baht or 1.2 percent from the previous quarter and up 166.6 million baht or 3.3 percent from the same period last year, mainly due to long-term loans for additional investment in the Happy Avenue Don Mueang project.
• Net assets as of September 30, 2024 were THB 8,436.5 million, equivalent to THB 9.6516 net assets per unit, down from THB 9.6487 per unit at the end of Q2/2024 and down from THB 9.7842 per unit at the end of Q3/2023.

• Consideration of the REIT 's payment of compensation from the performance in 3Q2024, the REIT manager has set aside a reserve for future loan repayments to be paid in the 4Q2024 not exceeding 29 million baht and for the renovation and repair of real estate in 2024 at a rate of 3% of total revenue to be used in calculating the adjusted net profit in accordance with the criteria of the SEC.

  ALLY REIT announced the payment of benefits to unitholders in Q3/2024 at 0.1300 baht per unit, with the closing date of the unit transfer register for the right to receive benefits on August 27, 2024, and the payment date on September 19, 2024.

• In Q3/2024, the REIT had total revenue of 391.5 million baht, down 27.5 and 34.5 million baht, or 6.5 percent, and 34.5 percent from the previous quarter and the same period of the previous year, respectively. The main reason was that other revenue decreased by 24.6 million baht and 34.5 million baht, or 79.4 percent, and 75.1 percent from the previous quarter and the same period of the previous year, respectively.

  Overall, revenue for the first 9 months of 2024 was 1,216.50 million baht, down 58.2 million baht or 4.6 percent from the same period of the previous year, mainly due to a decrease in rental and service revenue of 1,148.20 million baht, due to the impact of the construction project of the Maha Sawat Canal Bridge on Ratchaphruek Road to solve traffic problems and support the growth of the Bangkok-Nonthaburi area, which affected the performance of The Crystal Ratchaphruek shopping mall project.

• In Q3/2024, the REIT had total expenses of THB 252.6 million, down THB8.4 million and THB 11.8 million, or 3.2 percent and 4.5 percent from the previous quarter and the same period last year, mainly due to a decrease in administrative expenses of THB13.9 million and THB11.6 million, or 79.1 percent and 75.9 percent, compared to the previous quarter and the same period last year, respectively.

  Overall, expenses for the first 9 months of 2024 were THB764.2 million, down THB29.0 million or 3.7 percent from the same period last year, mainly due to a decrease in rental and service costs of THB40.2 million or 9.4 percent, resulting from the reduction in Ft electricity charges in line with the government's policy.

• In Q3/2024, the REIT had net investment income of THB 138.9 million, down THB 19 million and THB 22.7 million from the previous quarter and the same period last year, or 12.1 percent and 1.4 percent, respectively, mainly due to the decrease in the Trust’s total income, as detailed above.

  Overall, net investment income for expenses in the first 9 months of 2024 was THB 452.3 million, down THB 29.3 million from the same period last year, or 6.1 percent, mainly due to the decrease in the Trust’s rental and service income, as detailed above.