Hydrogen Freehold & Leasehold Real Estate Investment Trust

Hydrogen Freehold & Leasehold Real Estate Investment Trust

SSET:HYDROGEN
8.65
THB
0.00
(0.00%)
0.74EPS
11.29P/E
1.74BMarket Cap
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.09
1.08
1.03
1.07
1.08
Basic EPS, GAAP
0.06
-0.69
0.71
0.73
0.74
Free Cash Flow per Basic Share
-13.36
0.23
0.77
0.72
0.77
Dividend per Share
- -
0.22
- -
0.32
0.58
Book Value per Share
9.91
8.69
8.79
8.94
9.02
Tangible Book Value per Share
9.91
8.69
8.79
8.94
9.02
Basic Weighted Avg Shares
208
208
208
208
208
Sales/Revenue/Turnover
19
223
213
223
225
Operating Margin (%)
78.52
79.67
79.59
73.19
71.3
Depreciation Expense
- -
- -
- -
- -
- -
Net Income, GAAP
12
-143
147
152
155
Effective Tax Rate (%)
- -
- -
- -
- -
- -
Profit Margin (%)
61.84
-63.99
69
68.12
68.8
Working Capital
63
-19
-18
-47
-32
LT Debt
852
853
854
854
854
Total Equity
2,059
1,804
1,826
1,858
1,874
Return on Invested Capital (%)
- -
- -
6.36
6.05
5.91
Return on Capital (%)
- -
- -
7.2
7.08
7
Return on Common Equity (%)
- -
-7.4
8.11
8.24
8.32

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
854
854
854
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
208
208
208
Market Capitalization
1,662
1,703
1,745

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
12
23
29
Cash, Cash Equivalents & STI
10
19
25
Accounts Receivable, Net
1
1
1
Inventories
- -
- -
- -
Total Current Liabilities
59
61
61
Payables & Accruals
12
13
14
ST Debt
- -
- -
- -
Deferred Revenue
47
47
47

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
1.74%
Free Cash Flow
- -
- -
-7.27%
Net Income, GAAP
- -
- -
3.14%
Sales/Revenue/Turnover
- -
- -
4.47%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
55
56
53
50
213
2025
57
57
57
51
223
2026
58
58
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.16
0.16
0.15
0.24
0.71
2025
0.17
0.17
0.17
0.21
0.73
2026
0.18
0.18
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
0.02
0.15
0.15
0.32
2026
0.13
0.15
- -
- -
- -

Company Description

CEO
Apicha Chanprasert
Sector
Finance
Industry
Real estate investment trusts
Address
1 Q.House Lumpini Building 14th Floor, South Sathorn Road Pathumwan BM Thailand 10120
IPO Date
Dec 13, 2022
Business
Hydrogen Freehold and Leasehold Real Estate Investment Trust is a Thailand-based real estate investment trust established under the Trust for Transaction in Capital Market Act, with a trust deed signed in November 2022 and headquartered in Pathumwan, Thailand. The trust invests primarily in freehold and leasehold properties, generating revenue through leasing and related services, focusing on industrial and commercial real estate assets including Tiger Suvarnabhumi Distribution Center and Sara Group Industrial Parks. It provides investors exposure to diversified real estate portfolios by acquiring properties or leasehold rights and operating these assets to maximize returns. Managed by Hydrogen REIT Management Company Limited, the trust has recently engaged in strategic enhancements such as appointing Apicha Chanprasert as managing director in late 2025 and distributing dividends for the third quarter of 2025, reflecting operational stability and growth initiatives. The trust's portfolio expansion and financial performance are supported by a debt-to-equity ratio around 46-47% and a current return on equity of over 8%, indicating improved profitability and effective capital management. The trust operates under the oversight of Land and Houses Fund Management Company Limited as trustee and custodian, serving the Thai market with a focus on high-quality industrial real estate investments and income generation for unitholders. Recent strategic moves include leadership changes and dividend payments to reinforce investor confidence and operational growth within the industrial REIT sector in Thailand.