Wongkrit Jiamsripong, Chief Strategy Officer of Thai Eastern Group Holdings Public Company Limited (SET: TEGH), revealed to “Kaohoon” that overall performance in 2025 will be better than in 2024, when the company posted total revenue of THB 16.917 billion and a net profit of THB 556 million.
The bullish outlook was due to strong performance in the company’s three core businesses. In the first half of 2025, TEGH recorded total revenue of THB 11.088 billion, equal to 50% of the full-year target, with a net profit of THB 387 million.
In 2025, the natural rubber manufacturing and distribution business is on track, with solid rubber sales of approximately 130,000 tons in the first half of the year, out of the 2025 target of around 250,000–280,000 tons. For the second half, sales volume is expected to reach about 65,000 tons per quarter, with potential upside from sales of European Union Deforestation Regulation (EUDR)-compliant rubber products starting from 4Q25 onwards.
At the end of 2024, the proportion of EUDR-compliant rubber sales rose to 50%. However, after the EUDR enforcement was postponed for one year, the sales proportion decreased to about 40% in 1H25. TEGH believes there will be no further delay, which is a positive factor that may increase the sales proportion back to 50% and even higher in 2026.
Currently, TEGH already has a customer base of 30–40% using EUDR-compliant rubber. If EUDR enforcement resumes, it will support higher sales volume and improve the company’s gross profit margin (GPM) with the growing share. TEGH major customers remain the leading European tire manufacturers and, increasingly, customers from Asia—including China, Korea, and Japan—have started to demand EUDR-compliant rubber, said Wongkrit.
Meanwhile, the crude palm oil production and distribution business in 2025 will turn around from the negative performance in 2024, as results have started to improve since 2Q25 in line with increased palm output. Coupled with plans to upgrade the sterilizer and boiler systems, operational efficiency is expected to further improve, and the palm business will no longer weigh down overall group performance.
For the renewable energy production and organic waste management business operated by Thai Eastern Bio Power Public Company Limited (TEBP), performance in 2025 is expected to be better than in 2024. A new phase with a daily capacity of 90,000 cubic meters will be added, requiring an investment of THB 300 million and planned to commence commercial operations around mid-2026 with pre-secured clients.
As for the progress of listing TEBP on the Stock Exchange of Thailand, SEC (Securities and Exchange Commission) approval is expected within 4Q25, with trading to begin in 1Q26
