WHA Corporation Public Company Limited showcases robust performance with its financial results for the first six months of 2025, reporting total revenue and normal profit share of 9.325 billion baht, an increase of 32% (Y-Y). Normal profit surged to 3.148 billion baht, up 24% (Y-Y). Group CEO, “Jareeporn Jarukornsakul,” expresses confidence in the Thai economy's attractiveness despite facing various challenges due to geopolitical factors. Thailand's strategic location as a comprehensive Supply Chain hub, supported by infrastructure, energy security - including renewable energy - and a skilled labor force, will continue to attract foreign investment into the country. The company also revealed plans to sign contracts for land sales to clients in the electronics, electrical appliances, and automotive parts sectors, covering over 1,000 rai in the second half of 2025.

Ms. Jareeporn Jarukornsakul, Chairperson and CEO of WHA Corporation Group, disclosed the operational results for the first six months of 2025, with total revenue and profit share amounting to 9.398 billion baht, a 35% increase (Y-Y), and net profit of 3.056 billion baht, up 15% (Y-Y). The normal revenue and profit share stood at 9.325 billion baht, a 32% increase (Y-Y), and normal profit at 3.148 billion baht, up 24% (Y-Y). This growth is attributed to the outstanding performance of five business segments: logistics, industrial estates, utilities (water and electricity), digital business, and mobility. Notably, the industrial estate business benefited from attracting continuous foreign investment, while the logistics sector grew alongside increased rental space and revenue recognition from asset sales to the WHART trust, totaling 808 million baht. WHA Group remains committed to driving business according to its strategic plan aimed at creating a sustainable future under the motto "WHA: WE SHAPE THE FUTURE," aligning with the country's stability and sustainability.

Logistics Business: The logistics sector showed remarkable growth, with a total warehouse area under management of 3,163,552 square meters. Revenue and profit share from leasing and real estate services for the second quarter and the first six months of 2025 amounted to 556 million baht and 1,048 million baht, respectively, due to positive responses from leading clients across various industries. This led to the signing of lease agreements for Built-to-Suit projects and ready-made factories/warehouses totaling 123,237 square meters, valued at 2.153 billion baht, along with high-yield short-term lease agreements covering 46,540 square meters. The company was also awarded contracts from logistics service providers seeking to rent high-quality warehouses, totaling 32,000 square meters, valued at over 1.3 billion baht.

The company is advancing new projects in high-potential locations in Thailand, covering over 380,000 square meters, including WHA Mega Logistics Center Chonburi, WHA Mega Logistics Center Theparak Phase 3, and WHA Mega Logistics Center Bangna-Trad Inbound. Additionally, the first logistics center in Vietnam, covering 37,500 square meters within the Minh Quang Industrial Park in Hung Yen Province, has attracted interest from clients who are gradually signing lease agreements. Furthermore, an MOU has been signed with the local government of Thanh Hoa Province to study the development of a logistics project in an area of 300 rai.

“Recently, the company successfully sold assets to the WHART trust, covering a total area of 32,524 square meters, valued at 808 million baht, achieving its annual target of selling approximately 70,000 square meters of assets to the trust, valued at around 1.5 billion baht,” she stated.

Industrial Estate Business: In the first half of 2025, total land sales reached 1,105 rai, with revenue and profit share from land business in the second quarter and the first six months of 2025 totaling 1,276 million baht and 4,857 million baht, respectively. The increase in revenue and profit share in the first half of 2025 is attributed to rising land sale prices and a high level of land transfers, driven by investment relocation and business expansion to Southeast Asia. This aligns with Thailand's investment promotion in the first half of 2025, valued at over 1.05 trillion baht, a 138% increase. As of the end of the second quarter of 2025, there were 1,467 rai of land sales awaiting transfer of ownership (Backlog) and a high level of outstanding LOIs/MOUs totaling 1,427 rai, reflecting strong demand for industrial land.

“In the second quarter of 2025, the company signed a land sale agreement with Beijing Haoyang to establish a hyper-scale Data Center valued at 72.67 billion baht, the largest scale in ASEAN, reinforcing Thailand's leadership in digital technology. Additionally, several other data center clients are in negotiations,” she added.

Major clients from other industries have signed MOUs to purchase land, including an electronics and electrical appliances company covering 530 rai and an automotive parts company planning to buy over 470 rai for establishing production bases in Thailand, with contracts expected to be signed in the second half of 2025.

Currently, WHA Group operates 16 industrial estates in Thailand and Vietnam, with seven projects under construction and awaiting development in Thailand, covering 8,900 rai. The latest projects include WHA Eastern Seaboard Industrial Estate 5, phases 1 and 2, covering over 5,000 rai, designed as a “Smart Eco Industrial Estate” that is modern and environmentally friendly, supporting investments in future industries. The first plot of land is expected to be ready for transfer to clients by the first quarter of 2026.

In Vietnam, the company has developed industrial estates covering 3,125 rai (500 hectares), including WHA Industrial Zone 1 – Nghe An in Nghe An Province, with three more projects planned for construction between 2025 and 2026, covering a total of 3,353 rai (537 hectares). The company has also signed MOUs with local governments in Thanh Hoa Province, Da Nang, and Hung Yen to develop future industrial zones.

Utilities (Water) Business: In the first half of 2025, the utilities sector continues to show growth, with normal revenue and profit share from utilities totaling 824 million baht and 1,572 million baht for the second quarter and the first six months of 2025, respectively, based on water sales and management both domestically and internationally. In the second quarter and the first six months of 2025, water sales volumes were 40.3 million cubic meters and 80.3 million cubic meters, respectively. Domestic water sales in the second quarter and the first six months of 2025 were 30.8 million cubic meters and 61.7 million cubic meters, respectively, slightly decreasing from the previous year due to reduced water sales to power plant and petrochemical clients. However, the volume of value-added water products grew significantly, increasing by 29% (Y-Y) due to the commercial operation of new clients. In the second quarter of 2025, the company recognized revenue from one-time charges for excess water usage amounting to 84 million baht from clients with high water demand.

In Vietnam, the company reported water sales according to its shareholding in the second quarter and the first six months of 2025, totaling 9.5 million cubic meters and 18.6 million cubic meters, respectively, continuing to grow due to increased water sales from the Duong River project, which expanded its service area for existing and new clients.

Electricity Business: In the second quarter and the first six months of 2025, revenue from solar energy business amounted to 123 million baht and 254 million baht, respectively, with normal profit share from the electricity business at 162 million baht and 338 million baht, respectively. In the second quarter of 2025, 13 new Private PPA contracts were signed, with a total capacity of approximately 11 megawatts, resulting in a cumulative total of 315 megawatts of signed Private PPA projects by the end of the second quarter of 2025. The total electricity generation capacity according to shareholding stands at 991 megawatts, comprising 706 megawatts of operational capacity (including 178 megawatts of renewable energy) and 285 megawatts under development, all of which are renewable energy projects.

“In the first half of 2025, the company sold a total of 98 gigawatt-hours of solar energy, an 18% increase (Y-Y), with continuous growth expected. There are over 100 megawatts of projects under construction anticipated to be completed within 2025, and the company continues to expand investments in renewable energy both within and outside WHA industrial estates in Thailand and abroad.

Digital Business: The company is driving towards becoming a technology-driven organization by promoting a culture of innovation and executing Digital Transformation projects across all dimensions while seeking new business opportunities through platform development, including Mobilix Software Solution, a platform for managing electric vehicles (EV) and batteries to support mobility business, which has received positive market feedback. The company has also launched WHASApp, an application that revolutionizes communication between clients and WHA teams effectively. Recently, a new feature, CO2ZERO, was developed for managing carbon footprint data, ready to report results according to standards. Currently, WHASApp has over 1,500 users, and to strengthen WHA Group's business through advanced technology and innovation, projects involving Artificial Intelligence (AI) and the Internet of Things (IoT) are in development, with 12 AI Transformation projects underway, including Drone Inspection Solution and IoX Platform for Solar.

Mobility Business: The company aims to expand its mobility business, creating a Built-to-Suit EV ecosystem of Logistics that encompasses the entire electric vehicle ecosystem and comprehensive services as the first in Thailand under the Mobilix brand, which includes three main services: EV Rental Service, a comprehensive electric vehicle rental service; On Premise & Public EV Charging Solution, providing charging stations and related equipment for electric vehicles; and Mobilix Software Solution, an intelligent digital platform for managing electric vehicles and batteries. As of the end of the second quarter of 2025, a total of 372 electric vehicles have been rented out.

WHA Group's commitment to business operations reflects its success, evidenced by awards such as the S&P Global Sustainability Yearbook for three consecutive years, achieving the highest score in sustainability rankings by S&P Global, or Top 1% S&P Global CSA Score for 2025, marking the first year in the Real Estate Management & Development industry. The company has also been selected for the ESG 100 list for three consecutive years by the Thai Institute of Development. Meanwhile, its subsidiary, WHAUP, has been included in the ESG 100 list for the second consecutive year, and the WHAIR trust has been selected for the ESG 100 list for three consecutive years, while the WHART trust has been included in the ESG 100 list for the seventh consecutive year.

WHA Group has also been ranked among the Top 50 ASEAN Public Listed Companies by the ASEAN Corporate Governance Scorecard (ACGS) for the first time in 2025, reinforcing its commitment to elevating governance standards to a regional level. Additionally, Group CEO “Jareeporn Jarukornsakul” received the “Thailand Top CEO of The Year 2025” award in the Transportation & Logistics industry, reaffirming her leadership in Thailand's comprehensive logistics business.