Message from the CEO
2020 was a year that the world faced unexpected situations as a result of the COVID-19 outbreak. It was another year that tested the adaptability and strength of Origin. Origin has always believed that changes will take place rapidly in the modern world. Therefore, Origin has always prepared for changes and continues to move forward.
This is the ‘Key Success’ that made us overcome this year’s situation satisfactorily. The total sales in 2020 surpassed the target to 25,774 million Baht from projects that were launched in the previous year as well as 10 newly launched projects worth 13,300 million Baht. The Company’s total revenue was 11,114 million Baht and net profit was 2,662 million Baht. This resulted from the outstanding marketing on the Ready to Move project which accounted for approximately 64% of the total sales. In regards to the newly launched projects, the Company’s strengths are in market analysis, the selection of locations and potential markets. Therefore, the Company was able to reach customers’ needs and developed quality products that have Living Solutions and Reaching Solutions. This responded to customers’ needs and consistently generated good sales.
Origin Property was making adjustments prior to the COVID-19 outbreak by increasing the business proportion in housing project developments under Britania Company Limited, launching new housing brands with new price ranges for different market segments such as Brighton brand, a price range of 2.5 to 4 million Baht, Grand Britania, a price range of 8 to 20 million Baht, and Belgravia with a price over 20 million Baht. This accelerated housing sales and accounted for 25% of the total sales this year and customer groups at all levels were reached.
Nevertheless, the Company maintained a similar level of condominium development but used a variety of strategies to reach a wider market. The Company launched a new brand, SOHO Bangkok, the first project in the Ratchada area in order to expand the high-end market base. This project was released at the end of Q4 and was well received. The KnightsBridge Space Sukhumvit Rama 4 was jointly developed with GS Engineering & Construction Corporation from South Korea in order to develop a project that meets luxurious lifestyles.
Therefore, the Company was able to sell and close sales quickly. As for the Origin brand, a new strategy called Origin Next Normal was used to reduce management costs without affecting the product itself in order to make residential projects more accessible to consumers. The Origin Onnut project was the first project that was launched 100% online sales and it was completely sold out on opening day.
The ‘Everyone Can Sell Strategy’ allowed more than 1,200 employees of Origin Corporation to become micro-influencers and generate sales by reaching their own target group. This promoted the sales of the Ready to Move project to be a success and generated approximately 10% of the total sales this year.
2021 has a Game Changer. Vaccinations are underway across the globe and there is a possibility that the country will reopen. This will directly and indirectly affect the purchasing power of consumers. Therefore, customers will be more confident in their spending. Origin is prepared to move beyond the current situation to the next level of growth under the strategy, “ORIGIN NEXT LEVEL”. This consists of Living Solutions + Business Expansion, a combination of business strength development and business expansion opportunities. The Next Level of Living Solution responds to the NEXT LEVEL lifestyle and covers the Life Style and Life Stage in terms of function, design, price, location, sales models, customer communication including a new comprehensive service model. The Next Level of Business Expansion is a broad and in-depth expansion of New Locations, New Brands, New Business, and New Collaborations to achieve New Target Segmentation.
Overcoming these past situations strongly and being able to move forward requires good support from all participants, whether it is our customers, business partners, trade partners, the Board of Directors, executives, or all employees. The Company is extremely grateful for your support and promises to conduct business with good governance principles by taking into account the benefits of all stakeholders and the society as a whole.