AAPICO Hitech Public Company (AH) Q4 2025 earnings summary

Executive summary

• Revenue declined by 3.1% year-over-year to THB 26,167 million in 2025, reflecting a challenging economic environment.

• Net profit attributable to equity holders was THB 731.4 million, down 2.1% year-over-year, with a stable net profit margin of 2.8%.

• Consolidated financial statements for the year ended 31 December 2025 were audited and present fairly in accordance with Thai Financial Reporting Standards.

• The Group operates mainly in auto parts manufacturing, automobile sales and repair, and related technology services, with a global presence including Thailand, Malaysia, China, Portugal, and the US.

• Maintained strong financial flexibility with cash over THB 2,360 million and a low interest-bearing debt to equity ratio of 0.5x.

Financial highlights

• Gross profit margin slightly decreased to 8.5% in 2025 from 8.7% in 2024.

• EBIT fell 6.8% year-over-year to THB 1,115.9 million.

• SG&A expenses decreased by 5.8% year-over-year.

• Net profit attributable to equity holders was Baht 731 million, compared to Baht 747 million in 2024.

• Cash and cash equivalents increased to Baht 2,296 million from Baht 793 million.

Outlook and guidance

• Revenue for 2026 expected to grow at low single digits, in line with industry trends.

• Core net profit margin expected to be maintained at or above 2025 levels.

• Strategic focus on global expansion, EV components, and new joint ventures.

• Management expects continued growth in key segments, supported by investments in subsidiaries and joint ventures, and ongoing capital commitments.

• The Group maintains a strong capital structure with a debt-to-equity ratio of 0.87, well within covenant limits.