Bangkok: WHA Corporation Public Company Limited (WHA Group) has announced a 14% increase in normalized profits, amounting to 3.787 billion baht, driven by a pending deal with regional clients, including data center companies interested in investing in the 1,000-rai WHA Industrial Estate.
According to Thai News Agency, WHA Group reported its operating results for the first nine months of 2025, with total revenue and profit sharing of 12.079 billion baht and a net profit of 3.690 billion baht. Normalized operating results showed total revenue and normalized profit sharing reached 11.987 billion baht, reflecting a 20% increase, and normalized profit of 3.787 billion baht, a 14% year-on-year increase. In the third quarter of 2025, total revenue and profit sharing were 2.681 billion baht, a 16% decrease, but net profit rose by 38% to 634 million baht compared to the same quarter last year. The Board of Directors has approved an interim dividend payment for the first nine months of 2025 at a rate of 0.0669 baht per share, with the ex-dividend date set for November 27th and the payment date on December 12th, 2025.
Ms. Jareeporn Jarukornsakul, Chairwoman of the Executive Committee and Group CEO of WHA Group, attributed the group’s performance to its strategy of driving the organization through five business groups. In the Logistics Business, the company signed leases for built-to-suit projects and prefabricated factories/warehouses totaling 154,012 sq m, valued at 1.739 billion baht, during the first nine months of 2025. The company plans to sell assets and/or leasehold rights to the WHART Trust by the fourth quarter of 2025.
In the Industrial Estate Business, WHA Group reported total land sales of 1,258 rai, high-level MOUs of 1,806 rai, and land transfers of 1,363 rai in the first nine months of 2025. The sector benefits from the trend of investment/manufacturing relocation to Southeast Asia. In the third quarter of 2025, land sales reached 154 rai, with transfers of 220 rai. The company had a backlog of 1,400 rai and is negotiating with leading customers, particularly data center clients requiring 1,000 rai of land.
The Utilities (Water) Business showed growth in both Thailand and Vietnam, with Thailand’s water sales volume reaching 92.0 million cubic meters in the first nine months of 2025. In Vietnam, water sales grew significantly, driven by the Duong River project. The Electricity Business signed 10 contracts with a total production capacity of 6 megawatts in the third quarter of 2025, while the volume of solar electricity sales increased by 27% in the first nine months of the year.
WHA Group’s Digital Business is implementing digital transformation projects and seeking new opportunities, including the development of the Mobilix Software Solution for managing electric vehicles and batteries. The Mobility Business reported a total of 377 electric vehicle rentals by the end of Q3 2025 and aims to promote a comprehensive EV ecosystem in Thailand under the Mobilix brand.