AAPICO Hitech Public Company (AH) H1 2026 earnings summary

Executive summary

• Revenue grew 1.7% year-over-year in Q2 2026, with strong performance in Portugal and Malaysia offsetting weaker sales in Thailand and China.

• Net profit margin improved from 1.7% to 3.0% year-over-year, driven by higher gross margin and increased contributions from associates and JVs.

• 5% of automotive parts manufacturing revenue now comes from EV parts, with most existing parts compatible with EVs.

• Interim financials for the three- and six-month periods ended 30 June 2026 were reviewed with no material misstatements found.

• Revenues for the six-month period were Baht 13,158 million, slightly down from Baht 13,459 million year-over-year.

Financial highlights

• Q2 2026 total revenue: THB 6,744.7 million, up 1.7% year-over-year.

• Net profit attributable to equity holders rose 80.8% to THB 195.4 million in Q2 2026.

• 1H 2026 total revenue: THB 13,158.2 million, down 2.2% year-over-year; net profit up 23% to THB 509.7 million.

• Basic EPS for the six-month period was Baht 1.52, up from Baht 1.23 year-over-year.

• Gross profit margin for the six-month period was approximately 10.7%.

Outlook and guidance

• 2026 revenue expected to remain at similar levels to 2025, with core net profit margin projected above 2025 levels.

• Growth to be driven by EV components, new orders, and global expansion, including a new U.S. joint venture.

• Interim dividend of Baht 0.38 per share (up to Baht 127.7 million) approved for payment in September 2026.

• Additional investments planned in subsidiaries and joint ventures, including alternative energy and overseas expansion.

• Company remains agile amid economic and global uncertainties, focusing on sustainability.