KCE Electronics Public Company (KCE) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 was Baht 13,074.7 million, down from Baht 14,832.8 million in 2024, reflecting a year-over-year decline.

• Net profit attributable to owners was Baht 832.7 million, a significant decrease from Baht 1,648.5 million in 2024.

• The group completed two international acquisitions in 2024 and 2025, expanding its European sales presence.

• The company maintained strong equity at Baht 13,196.2 million as of year-end 2025.

Financial highlights

• Gross margin declined as cost of sales remained high at Baht 10,606.9 million (2025) vs. Baht 11,571.2 million (2024).

• Earnings per share dropped to Baht 0.70 from Baht 1.39 year-over-year.

• Total assets at year-end 2025 were Baht 17,929.7 million, down from Baht 18,415.7 million in 2024.

• Cash and cash equivalents increased to Baht 1,969.3 million from Baht 1,566.1 million.

• Dividend payments totaled Baht 1,418.5 million in 2025.

Outlook and guidance

• Management expects improved alignment of European sales strategy and cost efficiency from recent acquisitions.

• If the 2025 acquisition had occurred at the start of the year, estimated consolidated profit would have been Baht 880.96 million.