Asefa Public Company (ASEFA) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue from sales and services was 599.38 million baht, down 27.04% year-over-year, while net profit rose to 22.09 million baht, a 237.46% increase year-over-year.

• For the six months ended June 30, 2025, revenue was 1,313.23 million baht, down 12.24% year-over-year, with net profit at 66.46 million baht, up 1,211.44% year-over-year.

• Improved net profit driven by a significant reduction in credit loss provision expenses and higher gross profit margin.

Financial highlights

• Q2 2025 gross profit margin increased to 23.01% from 16.57% year-over-year.

• Net profit margin improved to 3.61% in Q2 2025 from -1.91% in Q2 2024.

• Earnings per share for Q2 2025 was 0.04 baht, up from -0.03 baht in Q2 2024.

• Administrative expenses dropped by 56.34% in Q2 2025 due to lower credit loss provisions.

Outlook and guidance

• Policies implemented to tighten credit approval and debt collection, and to shift sales focus from contractors to direct project owners in response to increased bad debt risk.