WHA Group Set to Achieve Fourth Consecutive All-Time High, Defying Challenges Solidifying Leadership in Business & Industry, Capitalizing on Sustainable FDI Growth

WHA Corporation Public Company Limited (WHA Group) proudly announces its strongest-ever first-half 2025 performance. Total revenue and share of profits soared to THB 9,325 million, a remarkable 32% increase year-on-year, while normalized profit hit a record THB 3,148 million, growing 24%. This exceptional growth affirms WHA Group's robust potential and ability to overcome market challenges. The Group is confident in achieving its fourth consecutive year of record-breaking performance, significantly bolstered by Thailand's foreign direct investment (FDI), which surged over 132% in the first half compared to the same period last year, even amidst a challenging global economic landscape.

Beyond Challenges, Unlocking the Future: Pioneering as a Future Creator

Jareeporn Jarukornsakul, Chairman of the Executive Committee and Group Chief Executive Officer of WHA Corporation Public Limited (WHA Group), remarked, "Despite a challenging first half, we successfully transformed adversity into opportunity, creating substantial value for our investors, customers, and the Thai economy. This success is a direct reflection of our deep expertise in business management and our commitment to leveraging innovation to develop comprehensive solutions that attract and serve the industries of tomorrow."

WHA Group's Sustained Growth Fueled by Thailand's Investment Boom

In the first half of 2025, Thailand attracted investment promotion applications exceeding THB 1.05 trillion, a staggering 139% increase from the previous year. FDI alone expanded by 132% to THB 738 billion, primarily from key investors in Singapore, Hong Kong, China, the United Kingdom, and Japan. This investment is heavily concentrated in high-growth sectors like Data Centers and advanced digital technologies, solidifying Thailand's pivotal role as an ASEAN Digital Hub. The Eastern Economic Corridor (EEC) remains the epicenter of this investment, capturing 61% of all investment promotion applications. This perfectly aligns with WHA Group's diversified core businesses: logistics, industrial estates, utilities & power, digital, and mobility. As a leading industrial estate developer, WHA Group achieved impressive land sales of 1,105 rai and transferred ownership of 1,143 rai in the first half. The robust pipeline includes a backlog of 1,467 rai awaiting transfer, valued at THB 7,695 million, alongside Letters of Intent (LOI) / Memoranda of Understanding (MOU) for an additional 1,427 rai, totaling over THB 8,000 million from a diverse range of industries, including electronics, automotive, and Data Centers.

Highlights of Core Business Group Performance: First Half 2025

Logistics Business continues its robust expansion. In H1, new and renewed lease agreements for rental space totaled over 123,000 square meters, valued at THB 2,153 million. The increased value per square meter underscores strong demand for premium logistics facilities. Recently, WHA launched the WHA Mega Logistics Center Chonlaharnpichit Km.4 Project 2, a massive 300,000 square meter development, with WHA GC Logistics Co., Ltd. (WGCL) as the inaugural client, leasing 22,000 square meters. Vietnam expansion is also on track, with the Hung Yen project in Vietnam completed as planned, and new developments being explored in Thanh Hoa province. This trajectory will bring the company's total managed area to over 3,213,000 square meters this year, targeting 200,000 square meters of new leases and planning to sell approximately 70,000 square meters of assets to WHART REIT, valued at THB 1,500 million.

Mobility Business, under the Mobilix brand, is actively building a comprehensive Built-to-Suit electric vehicle ecosystem. This includes EV Rental Service, Mobilix Software Solution, and EV Charging Solutions, all tailored to meet the surging demand in the commercial EV market. Despite a revised lease target of 539 vehicles this year due to supply chain challenges, the underlying trend remains strong, driven by the transportation sector's critical push for Decarbonization – a significant long-term growth opportunity.

Industrial Estate Business remains central to supporting future industries. WHA currently operates 16 industrial estates across Thailand and Vietnam. Over the past three years, digital technology clients, particularly Data Centers, have shown remarkable growth, now comprising 16% of the total client base. Concurrently, the company is developing six new projects totaling over 10,190 rai. A key highlight is the WHA Eastern Seaboard Industrial Estate 5 (WHA ESIE 5), spanning over 6,370 rai, conceptualized as a cutting-edge, environmentally friendly Smart Eco Industrial Estate. The first phase is slated for delivery in Q3 this year, with the first plot transfers anticipated in Q1 2026. In Vietnam, WHA has one project in Nghe An and is developing three more, totaling 3,391 rai, by 2025-2026. Strategic MOUs have also been signed with Thanh Hoa, Da Nang, and Hung Yen provinces to facilitate future expansion. WHA targets total land sales of 2,350 rai in 2025, with an average selling price per rai projected to increase by over 10%.

Utilities Business (Water) continues its growth trajectory, driven by a 29% increase in sales of value-added water products and new revenue from "Excessive Charge" services for high-volume water users like Data Centers. While overall industrial and raw water sales saw a slight decrease, Vietnam's operations, particularly the Doung River project, continue to expand. This resulted in total water sales of 18.6 million cubic meters, with a 2025 target of 166 million cubic meters.

Power Business is aggressively advancing renewable energy development. In the first half, the total contracted power purchase agreement (PPA) capacity reached 991 MW, with 463 MW from renewable sources. 156 MW of solar projects have achieved Commercial Operation Date (COD), with another 285 MW under development. The year-end target is to increase this to 1,185 MW. Furthermore, WHA is developing the RENEX platform for peer-to-peer clean energy trading and offering Renewable Energy Certificate (REC) services to support customer sustainability goals. The company is also poised to meet the substantial clean energy demands of Data Centers.

Digital Business is increasingly vital, enhancing the capabilities of all business groups through the strategic integration of technologies like AI and IoT. Over 12 AI Transformation projects are underway, including the Drone Inspection Solution and IoX Platform for Solar. WHA is also continually developing the Mobilix Software Solution platform and the WHASApp application, which now boasts over 1,500 users. A recent enhancement includes the CO2 ZERO feature for standardized carbon footprint reporting.

Leading the Future, Setting New Records

WHA Group targets a total revenue of THB 20,000 million this year, while steadfastly pursuing its Net Zero goal by 2050. This commitment is underpinned by five core ESG missions: Green Mobility, Water Conservation, Decarbonization, Green Construction, and Waste Reduction by 3R, all guided by the philosophy of "Edible Green" – a belief that sustainability is not a cost, but a crucial investment for the future.

"WHA Group's success is a powerful testament to our vision and unwavering commitment to building a sustainable business ecosystem," concluded Jareeporn. "We are ready to lead trends, drive transformative change, and collectively enhance Thailand's competitive edge on the global stage, all under our guiding mission: WHA: WE SHAPE THE FUTURE."