WHA Group unveils THB150 billion revenue target in five-year plan

TUESDAY, JANUARY 28, 2025
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Bangkok-based conglomerate plans to invest 119 billion baht expanding its five core business pillars

 

WHA Corporation Pcl, one of Thailand's largest industrial-estate developers, has announced an ambitious five-year expansion strategy targeting revenue of 150 billion baht by 2029, marking a nearly threefold increase from its current performance.

 

The Bangkok-based conglomerate plans to invest 119 billion baht expanding its five core business pillars, including a newly established green mobility division. The announcement comes as the company projects total revenue and share of profits of 14.4 billion baht for 2024, with an EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin exceeding 55%.

 

For 2025, WHA Group aims to generate more than 20 billion baht in revenue and profit share while maintaining an EBITDA margin above 45%. The company's five-year operational plan (2025-2029) seeks to achieve a 2.9-fold increase in revenue from 2024 levels, supported by a substantial investment budget exceeding 119 billion baht.

 

Speaking at a press conference on Tuesday, Jareeporn Jarukornsakul, chairman of the executive committee and group chief executive officer, expressed optimism about potential investment opportunities in the ASEAN region, particularly in Thailand.

 

Jareeporn Jarukornsakul

"We believe that the potentially intensifying geopolitical landscape will create significant investment opportunities within ASEAN," she said, citing Thailand's strategic advantages including established infrastructure and skilled workforce.
 

 

The group's expansion strategy centres on five key business areas:

WHA Group unveils THB150 billion revenue target in five-year plan

Logistics: WHA aims to expand its warehouse space to 3.3 million square metres by 2025, with significant developments planned in Thailand's Eastern Economic Corridor and Vietnam. The company recently completed its first Vietnamese logistics facility spanning 37,000 square metres.

 

Green Mobility: Operating under the brand name Mobilix, WHA's new electric-vehicle division targets a fleet of 20,000 EVs within five years. The company has already deployed 318 electric vehicles and established partnerships with key industry players including Voltality and Grab.

WHA Group unveils THB150 billion revenue target in five-year plan

Industrial Estates: After successful land sales of 2,565 rai (about 410 hectares) in 2024, including deals with Google for its first Thai data centre, WHA is developing seven new industrial estates in Thailand and exploring additional projects in Vietnam.

 

WHA Group unveils THB150 billion revenue target in five-year plan

Utilities and Power: The group plans to increase its power-generation capacity to 1,185 megawatts, with more than half sourced from renewable energy. Its water-utility business targets sales of 173 million cubic metres in 2025 across Thailand and Vietnam.

 

WHA Group unveils THB150 billion revenue target in five-year plan

Digital Solutions: WHA is implementing 12 artificial-intelligence transformation projects, including drone inspection solutions and IoT (Internet of Things) platforms for solar-energy management.
 

 

WHA Group unveils THB150 billion revenue target in five-year plan

 

The company has also committed to ambitious sustainability goals, including reducing greenhouse gas emissions by 683,000 tonnes of carbon-dioxide equivalent annually by 2029 through renewable-energy initiatives.

 

WHA Group unveils THB150 billion revenue target in five-year plan

 

"The greater the crisis, the greater the opportunity," Jareeporn said, emphasising the company's commitment to sustainable growth and positive social impact. The group maintains a conservative financial approach, targeting a net debt-to-equity ratio below 1.2 times throughout the expansion period.

 

WHA Group unveils THB150 billion revenue target in five-year plan

Industry analysts note that WHA's expansion plans align with Thailand's growing role as a regional industrial hub, particularly as multinational companies seek to diversify their manufacturing bases across Southeast Asia.

 

WHA Group unveils THB150 billion revenue target in five-year plan