Bangkok, 12 November 2026 – WHA Corporation Public Company Limited (WHA Group) delivered a strong performance in Q3/2026, recording total revenue and share of profits of THB 2,819 million, an increase of 5% year-on-year (YoY), and net profit of THB 756 million, up 19% YoY. While normalized total revenue and share of profits amounted to THB 2,831 million, an increase of 6% YoY, and normalized net profit reached THB 734 million, growing 15% YoY, driven by continued foreign investment relocation. The Board of Directors approved an interim dividend payment of THB 0.0669 per share, with the ex-dividend (XD) date scheduled for 26 November 2026. Ms. Jareeporn Jarukornsakul, Group CEO of WHA Group, expressed confidence in continued growth across all business hubs in Q4/2026, supported by the planned asset monetization through REITs during the final quarter of the year.
WHA Corporation Public Company Limited, or WHA Group, announced its financial results for Q3/2026, reporting total revenue and share of profits of THB 2,819 million, representing a 5% increase year-on-year, and net profit of THB 756 million, up 19% YoY. Normalized total revenue and share of profits amounted to THB 2,831 million, an increase of 6% YoY, while normalized net profit reached THB 734 million, growing 15% YoY.
For the first nine months of 2026, the Company recorded total revenue and share of profits of THB 9,204 million and net profit of THB 2,923 million. Normalized total revenue and share of profits stood at THB 9,285 million, while normalized net profit amounted to THB 2,819 million.
The Company's Board of Directors also approved an interim dividend payment for the first nine months of 2026 at THB 0.0669 per share. The ex-dividend (XD) date is scheduled for 26 November 2026, with the record date for shareholders entitled to receive the dividend set for 27 November 2026. The dividend payment is scheduled for 11 December 2026.
Reaffirming its financial strength, TRIS Rating has assigned WHA Group a corporate credit rating of "A-" with a "Stable" outlook, reflecting the Group's solid revenue structure, strong financial position, and financial flexibility. This supports the continued expansion of its five business hubs: Logistics, Industrial Development, Utilities and Power, Digital, and Mobility.
Ms. Jareeporn Jarukornsakul, Chairman of the Executive Committee and Group Chief Executive Officer of WHA Corporation Public Company Limited (WHA Group), revealed that the Company's outstanding performance in Q3/2026 reflected WHA Group's strong capabilities in accommodating the ongoing relocation of investment by leading global companies to Thailand and the region. "The strength of the WHA Ecosystem, encompassing comprehensive utilities, clean energy, and integrated infrastructure across our five business hubs, enables the company to effectively support the evolving requirements of global investors and future industries in every dimension."
Logistics Business: WHA Group's Logistics Business continued its growth momentum during the first nine months of 2026, securing additional lease agreements for Built-to-Suit facilities, ready-built factories, and warehouses totaling 85,152 sq.m.. The Company also signed high-return short-term lease agreements covering another 75,524 sq.m., bringing its total logistics assets under ownership and management to 3,294,800 sq.m.. In addition, WHA Group secured a project award from a leading logistics service provider for projects covering 22,771 sq.m. and is currently negotiating several other large-scale projects.
The WHA Mega Logistics Center Bang Na-Trad KM. 23 (Inbound) and Theparak KM. 21 projects have achieved nearly full occupancy. In response to continued leasing demand, the Company is accelerating the development of additional facilities in strategic locations. The WHA Mega Logistics Center Chonlaharnpichit KM. 4 Project 2 (Phase 1), covering 60,000 sq.m., is expected to be completed by the end of 2026. Meanwhile, the WHA Mega Logistics Center Theparak KM. 21 (Phase 3), with an area of 34,000 sq.m., is scheduled to commence operations in early 2027. The Company is also moving forward with the development of its new WHA Manufacturing Park 331 project.
In Vietnam, WHA Group's first logistics center in the Minh Quang Industrial Park has achieved 100% occupancy, prompting the Company to accelerate the development of a new logistics project in Thanh Hoa Province, covering more than 37,000 sq.m.. Furthermore, WHA Group successfully completed an asset sale to WHART in October, comprising 99,390 sq.m. with a total value of THB 2,508 million. The planned asset sale to WHAIR, covering 45,329 sq.m. and valued at THB 1,235 million, is also progressing according to plan, with revenue recognition expected in Q4/2026.
Industrial Development Business: During the first nine months of 2026, WHA Group's Industrial Development Business recorded total land sales of 1,545 rai, with land ownership transfers totaling 664 rai. The Company also signed Memoranda of Understanding (MOUs) covering 440 rai, while its land sales backlog stood at 1,638 rai. WHA Group continues to engage in negotiations with major prospective customers across a broad range of industries, including automotive, consumer products, electronics and electrical appliances, printed circuit boards (PCBs), semiconductors, and data centers.
The ongoing relocation of global investment to Southeast Asia remains a key driver of industrial land demand. Thailand continues to benefit from its well-developed infrastructure, established supply chains, skilled workforce, and strategic geographical location. This positive trend is reflected in Thailand's investment promotion applications during the first nine months of 2026, which reached THB 1.71 trillion, representing a 28% increase from the corresponding period of the previous year. The digital industry accounted for the largest share, with investment applications totaling THB 1.17 trillion. Meanwhile, foreign direct investment (FDI) applications amounted to THB 1.55 trillion, an increase of 62% YoY.
"Currently, WHA Group operates 17 industrial estates and industrial zones across Thailand and Vietnam. In Thailand, the Company has a combined 9,370 rai of industrial estate land under construction and awaiting development. Our latest project, WHA Eastern Seaboard Industrial Estate 5, covering a total area of 7,560 rai, has attracted strong interest from industrial customers. As a result, we are accelerating the development and expansion of the project to accommodate growing demand.
"In Vietnam, WHA Group has developed industrial zones covering 4,241 rai, or 678.5 hectares, including WHA Industrial Zone 1 – Nghe An in Nghe An Province. The Company is also developing WHA Smart Technology Industrial Zone 1 – Thanh Hoa in Thanh Hoa Province, which has recently begun attracting customers who have signed Letters of Intent (LOIs) and Memoranda of Understanding (MOUs)."
Utilities Business (Water): WHA Group's Utilities Business recorded total water sales and management volume across its domestic and international operations of 43 million cubic meters in Q3/2026. For the first nine months of 2026, cumulative water sales and management volume reached 131 million cubic meters, representing an 8% increase YoY for both periods. In Thailand, water sales volume grew by 10% YoY in both Q3/2026 and the first nine months of the year, with cumulative domestic water sales reaching 101 million cubic meters. Growth was recorded across all water product categories, particularly industrial water and raw water, supported by increasing demand from customers in the power generation, petrochemical, and automotive sectors. During the first nine months of 2026, the Company also recognized THB 398 million in capacity charge revenue from customers requiring water usage beyond their allocated volumes.
In Vietnam, water sales volume based on WHA Group's equity share reached 10 million cubic meters in Q3/2026, an increase of 0.3% YoY. For the first nine months of the year, water sales totaled 29 million cubic meters, up 2% YoY. Growth was supported by the expansion of service coverage in the Nghe An and Cua Lo projects to accommodate increasing demand from existing customers and new customer additions.
Most recently, the Company successfully signed water supply and management agreements with major customers requiring substantial water volumes. These agreements brought the cumulative contracted water volume for the first nine months of 2026 to 18.1 million cubic meters per year, further strengthening WHA Group's financial stability and expanding its sustainable long-term recurring income base.
To accommodate rising water demand, WHA Group commenced construction of industrial water production and distribution capacity expansions at two WHA industrial estates during Q3/2026. At WHA ESIE 4, the new industrial water production facility will have a capacity of 2.6 million cubic meters per year, complemented by a reverse osmosis (RO) water treatment system with a capacity of 0.5 million cubic meters per year. Commercial operation (COD) is scheduled for Q4/2026. Meanwhile, the WHA ESIE 3 project, with an industrial water production capacity of 1.8 million cubic meters per year, is expected to commence commercial operations in Q1/2027.
Power Business: During the first nine months of 2026, WHA Group recorded total solar power sales of 230 gigawatt-hours (GWh), representing a 57% increase YoY, with continued growth anticipated. In Q3/2026, the Company signed six additional Private PPA agreements for solar power projects, representing a combined contracted capacity of approximately 9 megawatts (MW). As a result, total accumulated contracted capacity under Private PPAs reached 393 MW at the end of the quarter.
"As of the end of Q3/2026, WHA Group's total power generation capacity based on equity share stood at 1,079 MW, comprising 771 MW of operating capacity, of which 243 MW was derived from renewable energy projects, and another 308 MW under development, all of which are renewable energy projects."
As part of its strategy to expand its renewable energy portfolio, WHA Utilities and Power Public Company Limited (WHAUP) recently commenced construction of its first ground-mounted solar farm project under the Feed-in Tariff (FiT) scheme, with an installed capacity of 9.9 MW. The project forms part of WHAUP's strategic plan to increase the proportion of renewable energy in its power portfolio, meet growing demand for clean energy, and support Thailand's transition toward a low-carbon society.
Digital Business: In Q3/2026, WHA Digital continued to advance WHA Group's Digital & AI Transformation strategy by enhancing its digital platforms, including Mobilix Software Solution and WHASApp. Key developments included CO2ZERO, a real-time carbon management feature designed to monitor and manage carbon emissions, and WeCYCLE, a recycling waste management feature. These solutions aim to improve operational efficiency while supporting the Group's sustainability objectives.
At the same time, WHA Digital continues to implement its three-year strategic roadmap, "Flight of the Future," with the goal of transforming WHA Group into an Intelligent Enterprise Ecosystem by 2028. The roadmap also emphasizes encouraging employees across the organization to adopt artificial intelligence (AI) to enhance productivity, strengthen organizational capabilities, and reinforce long-term competitiveness.
Mobility Business: As of the end of Q3/2026, Mobilix continued to expand its electric vehicle (EV) leasing services, reaching a cumulative total of 420 EVs under lease. Mobilix is committed to delivering comprehensive green logistics solutions through three core services: EV Rental Service, On-Premise & Public EV Charging Solutions, and Mobilix Software Solution. Its EV charging solutions encompass charging stations, chargers, and related equipment for business premises and public charging facilities, while Mobilix Software Solution provides a digital platform for efficient electric vehicle fleet and battery management.
"WHA Group has further reinforced its commitment to excellence in corporate governance and sustainable business development by receiving two prestigious recognitions at the SET Awards 2026: 5-Year Sustainability Recognitions and Outstanding Investor Relations Awards. The Company has also maintained an 'Excellent' (5-Star) Corporate Governance Report of Thai Listed Companies (CGR) rating for the ninth consecutive year. In addition, WHA Group ranked among the 14 highest-scoring companies, recognized as Top Quartile Companies, out of 43 companies in the market capitalization category of THB 30–100 billion. "These achievements reaffirm WHA Group's unwavering commitment to conducting business in accordance with strong corporate governance principles while advancing sustainable development across all dimensions."
ไม่มีความคิดเห็น:
แสดงความคิดเห็น