Message From The Chairman

Throughout 2025, the Thai economy faced tremendous volatility and challenges stemming from various external as well as domestic factors.

At the beginning of the year, several areas across the nation experienced earthquakes, which shook the public confidence and the sense of security. While the global economic slowdown, geopolitical tensions, and trade frictions – including the tariff policies implemented by key trading partners – remained significant pressures on the recovery of the Thai economy, particularly within the export sector. These challenges coupled with Thai Baht appreciation and lower-than-expected tourist arrivals, have constrained the overall pace of the country’s economic recovery.

Within the domestic landscape, household debt remains a critical factor that weighs on the consumer purchasing power. Although the aggregate debt level has shown a downward trend, the quality of such debt remains fragile, which in turn affects debt serviceability and consumer spending. Moreover, the stringent lending criteria maintained by financial institutions have led many consumers to defer major asset purchases like residential properties. Despite the property stimulus measures introduced by the government and the Bank of Thailand, along with reductions in the policy interest rate, the anticipated positive impact has yet to be fully realized in the short term. Consequently, the real estate sector continues to encounter greater challenges amidst a volatile economic environment.

Sansiri continued to drive its operations in 2025 under the “Dynamic Growth” strategic framework, launching 24 new projects with a total value of Baht 52,000 million. Despite the overall market deceleration, the Company successfully maintained its resilience across all dimensions – from product quality and construction standards to operational excellence. As a testament, none of the Company's projects sustained any damage from the earthquakes highlights its superior standards of safety and quality. This achievement further enhances customer confidence and trust in the Sansiri brand.

Amidst the irregular economic cycle and the real estate sector, the Board of Directors firmly believes that sustainable long-term growth must be built upon a foundation of disciplined operations, prudent investment criteria, and organizational readiness for the next phase of recovery. Within the framework of a strong commitment to financial discipline, the Company places significant emphasis on the governance and continuous monitoring of risks, including macroeconomic risks, liquidity, financing costs, and fluctuations in market demand. This approach ensures that well-informed strategic decisions are made to be resilient to uncertainty, and strike a vital balance between achieving a modest growth and long-term resilience, thereby delivering sustainable value to the shareholders.

Guided by this strategic framework, the Company has translated our vision into a tangible business momentum by strengthening its position as a “Top-of-Mind” brand while remaining an accessible brand for everyone. This strategy has ensured consistent demand across our project portfolio. Consequently, in 2025, Sansiri achieved total net presales of Baht 41,700 million, with total revenue of Baht 34,395 million and net profit amounting Baht 4,513 million. These results show our ability to maintain our operational performance despite a highly challenging market environment.

Forty-one years of experience have taught the Company the importance of financial discipline. Throughout this year, the Company has prioritised efficient inventory management to preserve healthy cash flow and maintain liquidity at an optimal level. The Company currently holds liquidity of Baht 87,617 million, sufficient to support ongoing operations and fulfil the repayment of maturing debentures. In addition, the Company successfully issued new debentures to refinance maturing debt as part of its capital structure management plan. These issuances continue to receive a positive response from investors, underscoring confidence in the Company’s financial stability and growth potential.

Beyond the commitment to sustained and resilient growth, the Company remains dedicated to the social and environmental responsibility. Throughout 2025, the Company supported Thai farmers by purchasing longan and mangosteen during periods of market oversupply. Additionally, in response to the conflict along the Thai-Cambodian border, the Company donated prefabricated bunkers, manufactured at Sansiri’s precast factory, essential food and supplies, to the officials and local communities in the affected area.

The Company placed strong emphasis on conducting its business in accordance with good corporate governance principles. In 2025, Sansiri was honoured to receive the “Excellent” level in the Corporate Governance Report of Thai Listed Companies (CGR) for the sixth consecutive year by the Thai Institute of Directors (IOD). The Company has been awarded an AAA rating in the SET ESG Rating 2025 assessment by the Stock Exchange of Thailand. In addition, the Company’s performance and leadership have been widely recognized across various platforms, including the “Powerful Brand Hall of Fame” – the highest honor at the Terra BKK awards – as well as being named The Most Powerful Brand in Real Estate for the eighth consecutive year by the same institution.

Looking ahead to 2026, the Company still sees a multifaceted challenges, and will proceed cautiously and prudently with the Speed to Market strategy to enhance our flexibility and ensure appropriate adaptability to changes in the external environment.

On behalf of the Board, I would like to express my sincere gratitude to all our customers, partners, shareholders, employees, and stakeholders for their unwavering trust and support extended to the Company. We sincerely look forward to receiving your valued support in the years ahead.