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    Investment trusts
Axtra Future City Freehold & Leasehold Real Estate Investment Trust

Axtra Future City Freehold & Leasehold Real Estate Investment Trust

SSET:AXTRART
11.90
THB
+0.10
(+0.85%)
1.13EPS
11.32P/E
29.92BMarket Cap
Nov 16Next Earn
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2024 Y
2025 Y
TTM
Revenue per Share
1.05
1.18
1.22
1.26
1.29
1.31
1.31
1.02
0.99
1.15
1.22
- -
1.18
1.17
Basic EPS, GAAP
0.75
0.8
1.06
1.22
1.21
1.32
1.16
0.59
0.61
0.3
0.95
- -
1.14
1.13
Free Cash Flow per Basic Share
-0.23
0.73
0.89
0.88
0.94
0.94
1.01
0.78
0.83
0.64
0.92
- -
0.41
0.89
Dividend per Share
0.69
0.75
0.81
0.86
0.86
0.9
0.9
0.77
0.68
0.8
0.87
- -
0.73
0.86
Book Value per Share
11.25
11.24
11.45
11.8
12.15
12.57
12.83
12.66
12.59
12.1
12.18
12.18
12.59
12.63
Tangible Book Value per Share
11.25
11.24
11.45
11.8
12.15
12.57
12.83
12.66
12.59
12.1
12.18
12.18
12.59
12.63
Basic Weighted Avg Shares
2,337
2,337
2,337
2,337
2,337
2,337
2,337
2,337
2,337
2,337
2,337
2,337
2,337
2,337
Sales/Revenue/Turnover
2,453
2,753
2,860
2,947
3,004
3,071
3,071
2,376
2,310
2,695
2,844
- -
2,756
2,737
Operating Margin (%)
76.12
74.5
75.55
77.57
77.48
78.25
81.27
78.88
76.13
79.22
80.88
- -
76.9
75.71
Depreciation Expense
- -
- -
- -
- -
- -
- -
- -
- -
7
9
10
- -
15
15
Net Income, GAAP
1,762
1,877
2,466
2,842
2,817
3,082
2,701
1,390
1,426
707
2,230
- -
2,659
2,642
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
71.82
68.18
86.22
96.42
93.78
100.34
87.95
58.49
61.74
26.24
78.42
- -
96.48
96.53
Working Capital
325
267
347
309
169
133
353
352
-2,019
-31
78
952
39
61
LT Debt
2,284
2,591
2,591
2,591
2,450
2,450
2,450
3,062
731
3,141
3,184
2,919
2,917
2,913
Total Equity
26,298
26,276
26,763
27,587
28,400
29,379
29,996
29,592
29,434
28,274
28,476
28,463
29,425
29,511
Return on Invested Capital (%)
6.8
7.14
7.42
7.68
7.63
7.67
7.77
5.76
5.39
6.67
7.26
- -
6.64
6.45
Return on Capital (%)
6.45
6.83
8.75
9.81
9.47
10.05
8.62
4.46
4.56
2.43
7.39
- -
8.63
8.49
Return on Common Equity (%)
6.7
7.14
9.3
10.46
10.06
10.67
9.1
4.66
4.83
2.45
7.86
- -
9.18
9.05

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
46
47
47
LT Borrowings
2,450
2,450
2,450
LT Finance Leases
467
467
463
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,337
2,337
2,337
Market Capitalization
30,852
29,450
29,917

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
698
659
692
Cash, Cash Equivalents & STI
214
205
192
Accounts Receivable, Net
484
454
500
Inventories
- -
- -
- -
Total Current Liabilities
659
637
631
Payables & Accruals
202
180
171
ST Debt
46
47
47
Deferred Revenue
410
410
413

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.98%
-0.09%
3.38%
Free Cash Flow
- -
- -
- -
Net Income, GAAP
- -
- -
- -
Sales/Revenue/Turnover
- -
- -
- -
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
715
700
721
281
- -
2025
687
690
684
694
2,756
2026
675
683
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.24
0.24
0.23
0.16
- -
2025
0.24
0.23
0.24
0.43
1.14
2026
0.23
0.24
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.22
0.22
0.21
- -
- -
2025
- -
0.29
0.22
0.22
0.73
2026
0.22
0.21
- -
- -
- -

Company Description

Company Profile APIChatGPT
Sector
Miscellaneous
Industry
Investment trusts
Address
Bangkok Thailand
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Business
Axtra Future City Freehold & Leasehold Real Estate Investment Trust (SET: AXTRART) is a Thailand-based real estate investment trust specializing in the acquisition, development, ownership, and management of prime commercial, wholesale, and retail properties. The Trust focuses on generating sustainable and long-term recurring revenue through commercial leasing and property management operations across key economic regions in Thailand. Its core products and services encompass commercial real estate leasing; retail property asset management; tenant space leasing across shopping centers, hypermarket anchors, specialty retail shops, food courts, restaurants, and entertainment venues; common area maintenance and facilities management services; and real estate investment portfolio administration. AXTRART primarily serves national retail operators, lifestyle and consumer service tenants, food and beverage retailers, and commercial businesses. Founded in September 2024 and headquartered in Bangkok, Thailand, the Trust is managed by Axtra Future City Property REIT Co., Ltd., an entity affiliated with CP Axtra Public Company Limited and CP Future City Development Corporation Limited within the Charoen Pokphand Group, with Krung Thai Asset Management Public Company Limited serving as the trustee. In recent major developments, the Trust was established to execute the full conversion and asset transfer of the Lotus's Retail Growth Freehold and Leasehold Property Fund (LPF), assuming all underlying assets, obligations, and contracts in November 2024 prior to listing on the Stock Exchange of Thailand in December 2024. Through this strategic transaction, AXTRART acquired an initial commercial portfolio consisting of 23 Lotus's-anchored shopping centers comprising approximately 340,000 square meters of net leasable area across Bangkok and high-growth upcountry provinces, structured as approximately 80 percent freehold and 20 percent leasehold assets with an appraised value exceeding THB 32 billion.