HARN expects second-half growth to outpace first half, with backlog of over 500 million baht
EarningsIndustry
Harn Engineering Solutions Public Company Limited, or HARN, expects its operating results in 2026 to grow steadily from the previous year. Executive Chairman Wirat Sukchai disclosed that the company currently has work in hand, or backlog, worth more than 500 million baht, and is awaiting the results of bids for several new projects valued from tens of millions of baht to hundreds of millions of baht. Clarity on additional work won is expected in the fourth quarter. The company is confident it can keep its backlog at a high level through the end of the year. HARN sees the data center group as one of its key potential markets, given the high demand for building systems and engineering systems, with related products and solutions spanning fire protection systems, refrigeration systems and air-conditioning systems. It is also targeting the small power plant market, infrastructure such as underground railways, and industrial factories. At the same time, the company is pressing ahead with a shift in its business model from selling equipment alone to providing maintenance and after-sales services, in order to increase work value and generate recurring revenue over the long term. It is also in talks with partners and leading global brands from both the United States and Asia to introduce new products and broaden its range of solutions, with clarity expected within this year. In its 3D printing business, the company has restructured by spinning it off into a subsidiary under the name Moriza to focus on specialised marketing, emphasising innovation in medicine and health such as artificial rubber fingers and 3D medical devices. These products have already passed medical manufacturing standards certification and are moving toward commercial marketing to expand distribution channels to hospitals and medical supply retailers. As for its operations in Vietnam, the company plans to slow investment and is likely to close its office there before shifting to selling and exporting goods directly from Thailand to Vietnam, in order to cut costs and increase management flexibility, while giving more weight to the domestic market.
