No Changes in Management Structure
Despite internal conflicts among major shareholders, Suphajee Suthumpun, CEO of Dusit Thani Public Company Limited (DUSIT), has confirmed that the company will continue operating according to its existing business plans. She emphasized that there has been no change in the company’s governance or executive decision-making structure.
Q1 2025 Financial Statements Submitted
The company has completed and submitted its Q1 2025 financial statements to the Stock Exchange of Thailand (SET) on May 15, 2025. These statements were prepared in accordance with accounting standards, approved by the audit committee, and reviewed by external auditors. The board also urgently approved the appointment of an auditor specifically for Q1 to prevent any potential harm to the company and its shareholders.
Company Reassures Stakeholders
Dusit Thani views the current situation as a temporary internal issue among shareholders. Suphajee stated that the company is making every effort to resolve the matter within its scope of authority and believes greater clarity will emerge after the May 28 shareholder meeting. She reaffirmed that Dusit Thani remains committed to transparent, professional management and strong corporate governance for the benefit of shareholders and all stakeholders.
Looking Ahead: New Chapter for Dusit Thani
Reflecting on her leadership since 2016, Suphajee described 2025 as a pivotal year as the company enters a “new chapter” with the opening of Dusit Central Park—a major project aligned with DUSIT’s long-term vision. She expressed hope that any shareholder disagreements can be resolved through dialogue, with the shared goal of moving the company forward in line with its founding principles.
2024 Financial Highlights
| Metric | Value | Year-over-Year Change |
|---|---|---|
| Revenue | 11.204 billion baht | Up 74.8% |
| EBITDA | 1.65 billion baht | Up 91.4% |
| Net Loss | 237 million baht | Down 58.4% |
The net loss was largely due to financial costs totaling approximately 578 million baht, mainly from bond interest and lease liabilities under TFRS 16. The company clarified that it intentionally avoided capital increases to prevent burdening shareholders.
Q1 2025 Performance
| Metric | Value | Year-over-Year Change |
|---|---|---|
| Revenue | 2.382 billion baht | Up 10% |
| Hotel Revenue | — | Up 15% |
| Food Business Revenue | — | Up 9.8% |
| Education Revenue | — | Up 12.9% |
| EBITDA | 513 million baht | Flat |
| Net Profit | 48 million baht | Down 60.7% |
| Adjusted EBITDA | 502 million baht | Up 13.3% |
| Adjusted Net Profit | 37 million baht | Down 32.7% |
Conclusion
Dusit Thani’s leadership remains steadfast amidst shareholder disputes, ensuring that business operations and strategic plans proceed without disruption. The company’s commitment to transparency and strong governance is evident in its timely financial reporting and proactive measures to maintain stakeholder confidence. As Dusit Thani embarks on a new chapter with significant projects like Dusit Central Park, the focus remains on sustainable growth and upholding the company’s founding principles.