Asefa Public Company (ASEFA) Q2 2025 earnings summary

Executive summary

• Interim financial statements prepared under Thai Accounting Standard No. 34, focusing on new activities and events for the three- and six-month periods ended June 30, 2025.

• The Group's main business is manufacturing and distributing electrical power distribution systems and related engineering services.

• Statements are consistent with prior annual reports and reflect updated estimates and judgments by management.

Significant events and developments

• Board approved a new treasury stock program for up to 20 million shares (3.67% of issued shares) with a maximum of Baht 70 million, running from March 10 to September 9, 2025.

• As of June 30, 2025, outstanding treasury stock totaled 23,299,900 shares at a cost of Baht 84.16 million.

• Board approved the acquisition of 180,000 shares in U-Services (Thailand) Co., Ltd. for Baht 46.8 million, increasing the stake to 60% post-period.

• Subsidiary Asefa Suntech Joint Venture is under liquidation; Asefa & UMI Joint Venture was dissolved and liquidated in Q1 2025.

Financial highlights

• Cash and cash equivalents at June 30, 2025: Baht 185.2 million (consolidated), down from Baht 272.1 million at December 31, 2024.

• Total trade and other current receivables (net): Baht 565.3 million (consolidated), down from Baht 598.9 million at year-end.

• Inventories (net): Baht 637.4 million (consolidated), stable from Baht 636.9 million at year-end.

• Bank overdrafts and short-term loans: Baht 715.6 million (consolidated), up from Baht 676.9 million at year-end.

• Long-term loans from financial institutions: Baht 216.6 million (consolidated), up from Baht 70.4 million at year-end.

• Basic EPS for six months ended June 30, 2025: Baht 0.13 (consolidated), compared to Baht (0.01) for the same period last year.

• Dividend of Baht 0.14 per share (total Baht 73.78 million) paid in May 2025 for FY2024 results.