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GULF reports 28 billion profit for 68, KBANK dividend boosts results.

GULF reports 28 billion profit for 68, KBANK dividend boosts results.

Thansettakij•Economy•2h ago

Reader Briefing

GULF's operational profits for 2025 reached 2.8 billion baht, significantly boosted by KBANK dividends and new power plant operations.

  • •GULF's operational profit for the year 2025 reached 2.8 billion baht.
  • •Key drivers included dividends from KBANK and full-year profit recognition from GPD units 3-4.
  • •New solar power plants and co-generation facilities that commenced commercial operations in late 2024 and late 2025 contributed to the profit.
  • •Profit from LNG imports and increased share profits from ADVANC, HKP, and Jackson also played a role.

Overview

  • •GULF's operational profit for the year 2025 reached 28,000 million baht.
  • •Growth was primarily driven by dividends from Kasikornbank (KBANK) and full-year profit recognition from GPD units 3-4.
  • •Profit was also generated from solar power plants and energy storage systems in Thailand, which commenced commercial operations in late 2024 and late 2025.
  • •GULF recorded 7,889 million baht in operational profit for Q4/2025, a 42.7% increase year-on-year.
  • •The increase in Q4/2025 operational profit was mainly due to the commencement of commercial operations of domestic solar power plants.
  • •Profit attributable to the parent company in 2025 was 86,562 million baht, a 304.8% increase.
  • •This surge was due to a merger gain between GULFI and INTUCH amounting to 56,120 million baht, and a business acquisition gain of 519 million baht from fair value adjustment of investment in industrial waste power projects.
  • •Net profit attributable to the parent company in Q4/2025 was 8,852 million baht, an 89.5% increase year-on-year.

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Key Entities

Organization

Gulf Energy Development Public Company Limited(GULF)
Operator of power plants and energy infrastructure, reporting significant operational profits.
Kasikornbank(KBANK)ℹ️
Bank from which GULF received dividend income contributing to its operational profit.
GPD
Power plant units (3-4) contributing to GULF's operational profit.
Advanced Info Service Public Company Limited(ADVANC)ℹ️
Company from which GULF received increased share profits.
HKP
Company from which GULF received increased share profits.
Jackson
Company from which GULF received increased share profits.
InTouch Holdings Public Company Limited(INTUCH)ℹ️
Company involved in a merger with GULFI, contributing to GULF's profit.
GULFI
Entity involved in a merger with INTUCH, contributing to GULF's profit.
GJP
Company from which GULF recognized increased share profits in Q4/2025.