Ms. Sineenuch Kokanutaporn, Managing Director of Thai Eastern Group Holdings Public Company Limited (SET: TEGH), stated that the operating trend in 4Q25 remains positive, driven by increased production volume compared to the previous quarter and the same period last year.
The current demand for rubber continues to show a good outlook, with countries showing clear growth in demand, including China, India, the United States, as well as the domestic market. Additionally, Japan and South Korea are beginning to show signs of increased demand for standard-grade EUDR block rubber.
For 2025, the company maintains its revenue target at THB 21-22 billion, which would mark a new all-time high, in line with the planned strategy. This is an increase from the previous year’s total revenue of THB 16.91 billion, supported by higher sales volumes and sales of EUDR block rubber that reach the company’s target.
Additionally, sales in the crude palm oil business have increased, and the renewable energy business has exhibited outstanding growth following capacity expansion at the end of last year. In the first nine months of 2025, the company has already recorded total revenue of THB 15.85 billion.
Looking ahead to 2026, TEGH targets revenue growth of 10%, benefiting from increased production volume. The company will also focus its investments on profitability-related segments and begin implementing a low-carbon supply chain, managing and formalizing the supply chain to generate income from low-carbon operations, with the goal of progressing towards Net Zero Solutions.
Meanwhile, factors affecting the company’s operations include:
- Flooding in southern Thailand, which may impact supply;
- The European Union (EU) has postponed the enforcement of the EU Deforestation Regulation (EUDR) to January 1, 2027, which does not impact the company’s EUDR rubber sales but could affect price sentiment. The company may have to negotiate with customers, currently in the negotiation stage;
- The current La Niña phase and the anticipated impact of El Niño in 2026, which the company continues to monitor; and
- The enforcement of the EU’s Carbon Border Adjustment Mechanism (CBAM) on January 1, 2026, and the increasing intensity of carbon tax measures.
Ms. Sineenuch stated that Thailand’s upcoming carbon tax and carbon market in 2026 is likely to benefit the company, as TEGH already holds over 100,000 tons of carbon credits and expects to generate more carbon credit premiums by about 100,000 tons a year. Although these credits have not yet been recorded in the financial statements, they can be used as a benefit for pricing, as well as further extending into new forms of energy.
Additionally, TEGH is proceeding with plans to list its subsidiary, Thai Eastern Bio Power Public Company Limited (TEBP), on the Market for Alternative Investment (mai) in early 2026 to raise funds for new production expansion phase, meet customer demand, and enhance growth potential in the renewable energy sector, in line with the vision: Leading Green Energy Revolution: Pioneering the Net Zero Solution.
