The Erawan Group Public Company Limited (SET: ERW) has announced 3Q25 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q25 | 3Q24 |
| Net Profit (Loss) Million Baht |
56.60 | 124.53 |
| Earning Per Share (Baht) |
0.0116 | 0.0255 |
| % Change | -54.55 | |
| 9 Months | 2025 | 2024 |
| Net Profit (Loss) Million Baht |
464.99 | 902.92 |
| Earning Per Share (Baht) | 0.10 | 0.19 |
| % Change | -48.50 | |
ERW reported a net profit in 3Q25 of THB 56.60 million, a decrease of THB 67.93 million or 54.55% compared to the previous year.
The performance of ERW in 3Q25 continued to be affected by a 13 percent YoY decline in international tourist arrivals to Thailand. The decrease was primarily caused by a continued slowdown in arrivals from East Asian markets, including Chinese tourists, from 2Q25. However, there were positive factors that helped mitigate the impact, such as an increase in arrivals from India due to the expansion of direct flights and a visa-free policy, as well as a rise from the Middle East during their peak travel season.
The company recorded normalized total revenue of THB 1,789 million, representing a 4 percent YoY decrease and normalized EBITDA of THB 482 million, a 13 percent YoY decrease along with a normalized net profit of 57 million baht, a 54 percent YoY decrease. In 3Q25, the Company’s EBITDA and NPAT were impacted by additional repair and maintenance expenses related to the earthquake, for which an insurance claim is underway. Excluding these expenses, 3Q25 EBITDA and NPAT declined 9 percent and 38 percent YoY respectively.
Comparing between 3Q25 and 3Q24, the performance of the Company’s hotel portfolio across luxury to economy segments experienced a 10 percent decline in RevPAR primarily due to decreases in both OCC and ARR by 3 percent and 7 percent respectively.
In 3Q25, budget hotels (HOP INN)’s total operating revenue was recorded at THB 468 million, reflecting a 13 percent YoY increase. EBITDA was recorded at THB 203 million, reflecting a 11 percent YoY increase.
