Gulf Development Public Company
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Gulf Development Public Company (GULF) investor relations material

Gulf Development Public Company Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary11 Aug, 2026

Executive summary

  • Q2'26 saw robust earnings growth, driven by strong power demand, increased capacity payments, and portfolio optimization initiatives.

  • Revenue and core profit rose significantly year-over-year and quarter-over-quarter, supported by higher EGAT sales, new solar projects, and improved performance from digital and telecom segments.

  • Strategic divestments and new subsidiary establishments enhanced the business portfolio and international presence.

  • Total assets reached 815,968 million Baht as of 30 June 2026, up from 773,810 million Baht at year-end 2025.

  • Equity attributable to owners stood at 315,598 million Baht, with total equity at 347,604 million Baht as of 30 June 2026.

Financial highlights

  • Total revenue for Q2'26 was THB 50,294 million, up 23.8% YoY and 28.8% QoQ.

  • EBITDA reached THB 18,997 million, up 41.4% YoY and 17.7% QoQ.

  • Six-month consolidated revenue was 82,116 million Baht, more than doubling from 38,518 million Baht year-over-year.

  • Six-month consolidated net profit was 23,994 million Baht, down from 65,485 million Baht year-over-year.

  • Net profit attributable to parent was THB 12,332 million.

Outlook and guidance

  • 2026 performance expected to improve further with 695 MW of new energy projects coming online.

  • Jackson Generation's capacity payment to increase nearly tenfold, boosting profit share.

  • Expansion in LNG imports and optimization to enhance value creation.

  • Full-year recognition of new data center and motorway projects to support revenue growth.

  • No explicit forward-looking guidance provided, but strong asset growth and capital structure suggest continued expansion.

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Frequently asked questions

Gulf Energy Development Public Company Limited is a Thailand-based energy company engaged in the development, generation, and distribution of electricity. The company operates a diversified portfolio of power projects, including natural gas, renewable energy, and infrastructure ventures. Gulf Energy’s projects span both domestic and international markets, serving industrial, commercial, and residential customers. The company also invests in energy transmission and infrastructure to support the efficient delivery of power to end users, with a focus on sustainable energy solutions. The company is headquartered in Bangkok, Thailand, and its shares are listed on the Stock Exchange of Thailand.