Thai Eastern Group Holdings Public Company Limited, or TEGH, reported second-quarter results for the fiscal year 2569 with total revenue of 4.405 billion baht and net profit of 165 million baht, up 104% from the previous quarter. The natural rubber business remained the main revenue driver, accounting for about 85% of total revenue, with revenue of 3.746 billion baht, down 5% from the previous quarter, but supported by average TSR20 block rubber prices on the SICOM market at 217.8 US cents per kilogram, up 13.7% quarter-on-quarter and 29.7% year-on-year. The company targets block rubber sales volume of 260,000 tonnes this year, up 4% from last year, and expects EUDR-compliant block rubber to account for 30–40% of sales in the second half. The crude palm oil business posted revenue of 566 million baht, up 35% quarter-on-quarter, and expects to increase production capacity by about 50% within this year. The renewable energy and organic waste management business recorded revenue of 90 million baht, up 37% quarter-on-quarter, with the phase-two project expected to be completed in the second quarter of 2570, adding biogas production capacity of about 23.76 million cubic metres per year. For the 2569 outlook, the company targets total revenue growth of 10% to reach 22 billion baht and is considering the timing for listing TEBP on the stock exchange through an IPO after the Securities and Exchange Commission approved an extension of the execution period.
Thai Eastern Group Holdings PCLSecond-quarter net profit surged 104% and revenue target raised to 22 billion baht.
IPO planned after SEC approval extension, with TEBP expected to list on the stock exchange.
