Chawalit Tanomtin, Chief Executive Officer of Right Tunnelling Public Company Limited (SET: RT), revealed the company’s operational outlook for the second half of 2026.
He stated that in September, RT will sign a contract with the Metropolitan Electricity Authority (MEA) for a project to convert overhead power lines to underground cables along Srinakarin Road (between Theparak Road and Sukhumvit Road), valued at approximately THB 1.1 billion, under the RT-ILSONG joint venture (a partnership with Ilsong Construction Co., Ltd., from South Korea).
Chawalit also anticipates that during the second half of the year, government agencies will open bidding for another 2-3 projects, areas in which RT has expertise, namely drainage tunnels and electrical tunnel systems, and that RT will definitely participate in the bidding. Therefore, he estimated that by the end of 2026, RT will have a revenue backlog of THB 6 billion.
Currently, as of June 30, 2026, RT has a total backlog of THB 4,755 million, which will be recognized as revenue until 2030. The projects were divided into: tunnel and underground structure construction (75% or THB 3,558 million), dam and irrigation system construction (10% or THB 452 million), underground pipe jacking and drilling construction (8% or THB 363 million), hydropower plant construction (1% or THB 54 million), and other works (6% or THB 329 million).
In addition, RT is confident that it will be able to achieve higher gross profit margin in 2H26 compared to 1H26. The GPM for the first half of the year was 12.4% or THB 226 million, which is considered a normal rate. While RT was affected by the conflict in the Middle East in 1Q26, which caused oil and construction material prices to rise, RT was able to manage costs well, resulting in a GPM of 13.1% or THB 119 million in 2Q26, up from 11.75% or THB 107.70 million in 1Q26.
Chawalit further stated that in the first half of the year, RT aims for total revenue of THB 3.8 billion, an increase of 10% from the previous year. In 1H26, total revenue was THB 1,855 million, an increase of 18.74% from the same period last year. RT targets a net profit of THB 80 million, up from THB 11.58 million last year. In 1H26, RT has already achieved a net profit of THB 26.24 million. Therefore, in 2H26, RT will accelerate operations to meet its target.
RT prioritizes selecting projects that can maintain a suitable profit margin amidst the volatility of energy prices, construction materials, and transportation costs. This is achieved by pre-ordering materials from selected suppliers to mitigate the risk of sudden price increases.
The company will continue its RAISE–REFINE–RESILIENCE strategy to create sustainable growth by increasing the proportion of projects with short turnaround times to improve liquidity, coupled with expanding operations and maintenance (O&M) work to generate recurring revenue, reduce reliance on revenue from large projects, and increase the diversification of revenue sources.
