WHA Group reported Q3/2023 performance

Editorial Staff

WHA Group reported Q3/2023 performance with profit increase 141%(YoY)and green light for dividend payment of 0.0669 baht per share

WHA Corporation PCL (WHA Group) announced Q3/2023 performance with total revenue and share of profits of 2.74 billion baht and net profit of 623million baht, an increase of 141% YoY.

This is divided into normalized total revenue and share of profits of 2.70 billion baht, and normalized profits of 609 million baht, an increase of 92% YoY. The growth has been driven by the success of 4 business hubs.

Recently, the board of directors has approved an interim dividend payment for 2023 of 0.0669 baht per share. The XD will be posted on 22 November 2023 and the payment is scheduled on 8 December 2023.

Chairman of the executive committee and Group CEO of WHA Corporation PCL Jareeporn Jarukornsakul said the company is likely to achieve its targeted total land sale of 2,750 rai, signaling a positive outlook for steady growth in the fourth quarter due to the revenue recognized from land sale of 250 rai to Changan Auto Southeast Asia Co, one of China's four leading automotive groups. Also, the company has received the highest rating of "AAA" in SET ESG Ratings 2023, marking the fourth consecutive year of inclusion into the lists of Sustainable Stock.

WHA Corporation PCL or WHA Group reported its Q3/2023 earnings with total revenue and share of profits amount to 2.74 billion baht, an increase of 25%, and net profits of 623 million baht, an increase of 141%. This is divided into normalized total revenue and share of profits of 2.70 billion baht, an increase of 21%, and normalized profits of 609 million baht, up 92% YoY.

In the first nine months of 2023, the company’s total revenue and share of profits amounted to 8.43 billion baht and net profits of 2.01 billion baht. When considering regular performance, the company had normalized total revenue and share of profits of 8.27 billion baht, an increase of 25%, and normalized profits stood at 1.93 billion baht, an increase of 100% YoY.

The improvement in earnings reflects the company’s financial strength. This is in line with our 'A-' credit rating and 'Stable' outlook, highlighting the company’s consistent and strong growth across its four business hubs, both in Thailand and Vietnam.

The overall performance for the first 9 months of 2023 had shown remarkable growth, driven by all four business hubs including logistics, industrial development, utilities (water and power), and digital soluti.