WHA Corporation Public Company Limited (WHA Group) announced its strongest half-year performance in history for the first half of 2025, with total revenue and profit share of 9.325 billion baht, a 32% increase from the previous year, and a record normal profit of 3.148 billion baht, growing by 24%. This underscores its growth potential and ability to overcome challenges, with confidence in achieving a fourth consecutive record high, supported by foreign direct investment (FDI) in Thailand, which expanded by over 132% in the first half of the year compared to the same period last year, despite facing challenges from the global economic situation.

Beyond Challenges, Unlocking the Future: Leading Trends as a Creator of Tomorrow

Ms. Jareeporn Jarukornsakul, Chairwoman of the Executive Board and CEO of WHA Group, stated, “Although the first half of the year was filled with challenges, we were able to turn crises into opportunities, creating value for investors, customers, and the Thai economy. This success reflects our expertise in business management and our commitment to developing comprehensive solutions to meet the needs and attract future industries.”

WHA Group Continues to Grow, Supported by Thailand's Investment Figures

In the first half of 2025, Thailand received investment promotion applications totaling over 1.05 trillion baht, a 139% increase from the previous year, with FDI expanding by 132% to a value of 738 billion baht, primarily from Singapore, Hong Kong, China, the United Kingdom, and Japan, focusing on investments in Data Centers and advanced digital technologies. This reflects Thailand's role as the Digital Hub of ASEAN, with the Eastern Economic Corridor (EEC) remaining the center of investment, accounting for 61% of all investment promotion applications, aligning with WHA Group's core business areas, which include logistics, industrial estates, utilities and energy, digital, and mobility. Notably, in the first half of the year, the industrial estate sector achieved land sales of 1,105 rai and transferred ownership of 1,143 rai, with a backlog awaiting transfer of 1,467 rai valued at 7.695 billion baht, and Letters of Intent (LOIs) / Memorandums of Understanding (MOUs) for another 1,427 rai valued at over 8 billion baht from various industries, including electronics, automotive, and Data Centers.

Highlights of Core Business Segments in the First Half of 2025

Logistics Business continues to expand, with new leasing contracts totaling over 123,000 square meters valued at 2.153 billion baht in the first half of the year, reflecting higher value per square meter than the previous year, indicating strong demand for quality space. Recently, the WHA Mega Logistics Center Chonburi Project 2, covering 300,000 square meters, was launched, with WHA GC Logistics Co., Ltd. as the first customer leasing 22,000 square meters. The company is also expanding its investment in Vietnam, with a project in Hung Yen province completed as planned and a new development being studied in Thanh Hoa province, resulting in a total managed area of over 3,213,000 square meters this year, with a new leasing target of 200,000 square meters and plans to sell assets to WHART Trust of approximately 70,000 square meters valued at 1.5 billion baht.

Mobility Business under the Mobilix brand continues to build a comprehensive electric vehicle ecosystem, including EV Rental Services, Mobilix Software Solutions, and EV Charging Solutions, focusing on the growing commercial EV market. Although the target for vehicle leasing has been reduced to 539 units this year due to supply chain issues, the outlook remains strong due to the transportation sector's push to decarbonize, presenting significant long-term growth opportunities.

Industrial Estate Business is crucial for supporting future industries, currently operating 16 estates in Thailand and Vietnam. Over the past three years, the digital technology customer base, such as Data Centers, has grown significantly, accounting for 16% of the total customer base. The company is developing six new projects covering over 10,190 rai, with a highlight being the WHA Eastern Seaboard Industrial Estate 5 (WHA ESIE 5), covering over 6,370 rai, designed as a modern and environmentally friendly Smart Eco Industrial Estate, with the first phase ready for delivery in Q3 of this year and expected to transfer the first plot in Q1 of 2026. In Vietnam, there is currently one project in Nghe An and three additional projects under development totaling 3,391 rai by 2025-2026, with MOUs signed with Thanh Hoa, Da Nang, and Hung Yen provinces to support future expansion. The company aims to sell 2,350 rai of land in 2025, with an average selling price per rai increasing by over 10%.

Utilities Business (Water) continues to grow from value-added water products, with sales increasing by 29% and new revenue from excessive charges for high water usage customers, such as Data Centers. Although industrial and raw water sales slightly decreased, Vietnam continues to grow, especially with the Doung River project, resulting in total water sales of 18.6 million cubic meters, with a target of 166 million cubic meters for 2025.

Electricity Business is advancing renewable energy development, with a total contracted capacity (PPA) of 991 megawatts in the first half of the year, of which 463 megawatts are renewable energy. Solar projects with a total of 156 megawatts have reached COD, and another 285 megawatts are under development, aiming to increase total capacity to 1,185 megawatts by the end of the year. Additionally, the company is developing the RENEX platform for peer-to-peer clean energy trading and renewable energy certificate (REC) services to meet customer sustainability needs, while also preparing to meet the high demand for clean energy from Data Centers.

Digital Business is playing an increasingly important role in enhancing the capabilities of the business group through technology and innovation, such as AI and IoT, with over 12 AI Transformation projects, including Drone Inspection Solutions and IoX Platform for Solar. The company is also developing the Mobilix Software Solution platform and the WHASApp application, which has over 1,500 users, and recently added the CO2 ZERO feature for carbon footprint reporting according to standards.

Aiming for the Future as a Trend Leader, with Goals to Achieve New Records Continuously

WHA Group aims for total revenue of 20 billion baht this year while also pursuing its Net Zero target by 2050 through five key ESG missions: Green Mobility, Water Conservation, Decarbonization, Green Construction, and Waste Reduction by 3R, under the concept of “Edible Green,” believing that sustainability is not a cost but an investment for the future.

“The success of WHA Group is a testament to our vision and commitment to creating a sustainable business ecosystem. We are ready to lead trends, drive change, and enhance Thailand's competitive capabilities on the global stage under the mission WHA: WE SHAPE THE FUTURE,” Jareeporn concluded.