QTC Energy Public Company Limited

QTC views the government's policy supporting residential solar rooftop installations and power buyback as a positive factor for demand for electrical transformers, which are key components in the power grid. The company is preparing to participate in more project bidding from Thai power utilities, following a backlog in its transformer business worth nearly 1 billion baht. It expects to recognize revenue continuously until the end of this year and has opportunities to secure new projects both domestically and internationally in the second half, which will help its 2026 performance meet the revenue target of 2 billion baht, after generating 1.2 billion baht in the first half. Meanwhile, the surge in copper prices from over 300 baht per kilogram to over 500 baht does not affect the business, as the company has locked in copper prices with suppliers for six months starting March 2026 and has hedged against exchange rate risks.

ABM, or Asia Biomass Public Company Limited, has signaled that its performance in the coming periods is likely to improve, following the recognition of profit share from its investment in QTC, or QTC Energy Public Company Limited, in which it holds approximately 24%. Meanwhile, its net loss in the first six months of 2026 dropped by 95.50% to just 1.52 million baht, from a loss of 33.70 million baht in the same period last year. Total revenue stood at 689.20 million baht, down 40.03%, due to a strategic shift to reduce sales of low-return products. This led to a gross profit margin in the second quarter of 2026 rising to 17.66%, up from 11.60% in the previous year. At the same time, the company is studying a waste-to-energy power plant to expand its renewable energy business, leveraging its expertise in fuel management and creating synergies with QTC.

Executives of several listed companies reported financial results and social assistance activities. Dr. Sakda Phannawai, Managing Director of Don Mueang Tollway Public Company Limited, or DMT, ordered teams to rush drinking water and essential supplies to flood victims in Nan province, and instructed staff to monitor the situation closely. M.L. Nathasit Diskul, Director and Chief Executive Officer of Bangkok Aviation Fuel Services Public Company Limited, or BAFS, delivered 1,008 kilograms of rice to the Third Army Area for distribution to alleviate hardship in Nan province. Meanwhile, Chalerm Kokanutaporn, CEO of Thai Eastern Group Holdings Public Company Limited, or TEGH, achieved a perfect score of 100 points at the excellent level for the third consecutive year in the 2026 Annual General Meeting quality assessment project. Phunphiphat Tanthanasin, CEO of QTC Energy Public Company Limited, or QTC, announced second-quarter 2026 results with total revenue of 748 million baht and net profit of 62 million baht. Rangsri Teepakornsukkasem, Managing Director of Smart Concrete Public Company Limited, or SMART, reported second-quarter 2026 results with total revenue of 101.94 million baht and net profit of 4.42 million baht, growing 124 percent.

QTC Energy Public Company Limited, or QTC, welcomed Professor Dr. Yotschanan Wongsawat, Deputy Prime Minister and Minister of Higher Education, Science, Research and Innovation, on the occasion of his visit to the smart energy management system installation project at Building 99, Technology Park, King Mongkut's University of Technology North Bangkok. This project is a key showcase reflecting the company's evolution from a transformer manufacturer to a full-service smart energy solutions provider. QTC provided primary support for installing a system that combines a 215 kilowatt-hour battery energy storage system with a 43.6 kilowatt-peak solar power generation system, controlled through an energy management system developed by QTC ESS. The system uses batteries and inverters from FOX ESS, working together with an emergency shutdown system from Fonrich to enhance safety and efficiency. The project aims to upgrade the university building into a smart energy-saving building that can generate, store, and manage its own energy, helping reduce electricity costs and strengthen long-term energy security. It also reflects QTC's commitment to driving a low-carbon society and developing new businesses serving the growing markets for energy management systems and energy storage systems.

QTC Energy Public Company Limited, or QTC, reported second-quarter 2026 results, swinging to a net profit of 62 million baht from a loss of 11.80 million baht a year earlier. Total revenue reached 748 million baht, up 75% compared to the same period last year. For the first six months of 2026, the company posted total revenue of 1.202 billion baht, a 71% increase, and a net profit of 52 million baht. The main growth drivers were the transformer business, which generated 648 million baht in revenue, and the solar cell business, which brought in 466 million baht. This was supported by rising demand for transformers driven by the expansion of clean energy and consumer behavior shifting toward self-generation and consumption of electricity, as well as government tax deduction measures for solar cell installation. Meanwhile, data center investments in Thailand by global technology companies are creating total electricity demand of over 1,000 megawatts, significantly boosting the market for large-scale transformers, alongside the rapidly expanding electric vehicle charging station market.

QTC Energy Public Company Limited, or QTC, is preparing to bid for new projects worth a combined 300 to 400 million baht, adding to its current backlog of approximately 1.7 billion baht as of the end of the first quarter of 2026. Chief Executive Officer and Managing Director Poonpipat Tanthanasin revealed that the draft Power Development Plan for 2026 to 2050, known as PDP 2026, which the Ministry of Energy is set to propose to the National Energy Policy Council in the fourth quarter of 2026 and which targets increasing the share of clean energy to 70 percent from 51 percent in PDP 2024, will be a clear positive factor for the company. This is because transformers are the heart of the power grid, and greater investment in electricity will drive overall transformer demand to expand. The company maintains its 2026 revenue target of 2 billion baht, up from approximately 1.61 billion baht achieved in 2025, supported by a large backlog awaiting delivery. It also assesses that the baht's movement around 33.41 baht per US dollar as of the end of July 31, 2026, has no impact on operations, as export revenues and raw material imports are at similar levels, with the latest export share at around 20 percent.

QTC has disclosed that orders for electrical transformers are fully booked through the end of 2026. The company has set a group revenue target for this year at approximately 2 billion baht, representing growth of around 20 percent from the previous year. The growth is driven by rising demand in international markets, particularly Japan, which is accelerating investment in clean energy infrastructure, as well as the global expansion of data centers that require stable power systems. The company is also in talks with private sector partners in Europe to meet increasing demand driven by investment trends in data centers and clean energy. Meanwhile, the domestic market is supported by the expansion of solar panel installations. Currently, about 60 percent of revenue comes from the private sector and international markets, while the public sector accounts for 40 percent.