Energy Absolute Sets to Break Revenue Record from EV Boom with Introduction to Digital Token

Energy Absolute PCL (SET: EA) believes its revenue will grow 50% as projected to break a record high this year at THB 41.3 billion, a sharp increase from last year of THB 27.5 billion. EA estimates THB 10 billion gross profit for this year, a record as well.

The increase is attributed from revenue recognition from EV cars and batteries arm at THB 16.8 billion, which translated into THB 4.4 billion of net profit in the first half of this year. In this year, EA plans its investment budget at will THB 11 billion mainly on the expansion of battery factories from 1 to 2 gigawatts and 4 for next year.

EA believes the government reduction of electricity cost to THB 3.99 per unit will not impact EA’s PPA contract due to its diversification to EV.


EA will issue a new THB 10 billion worth of green bond to pay its short-term debts. These bonds will be offered to the public as three series through seven institutions.

The first one will have 3.2% yield with 1-year maturity under THB 4 billion.

The second one will have 3.7% yield with 3-year maturity under THB 3.2 billion.

The first one will have 4.1% yield with 5-year maturity under THB 2.8 billion.


In addition, EA plans to convert some of its assets into digital tokens. EA will begin its ITO to sell digital tokens of its transportation arm “Thai Smile Bus” to the public in 1Q2024, which will be a positive factor for EA’s future financial.