Bangkok: GPSC’s first-half profit reached 3,159 million baht, driven by increased profit sharing from associates. GPSC announced a robust performance for the first half of the year, with a net profit of 3.159 billion baht. This growth was largely fueled by the company’s international investment portfolios, particularly in India and Taiwan. The company has strategically adjusted its operations to align with current energy consumption trends both domestically and globally.
According to Thai News Agency, Mr. Worawat Pitayasiri, Chief Executive Officer of Global Power Synergy Public Company Limited (GPSC), highlighted the company’s Q2 2025 operating results, which showed a net profit of 2,019 million baht-a 77% increase from Q1 2025. This growth was primarily driven by unrealized foreign exchange gains from investments in associates and joint ventures, such as the Changfang and Xidao (CFXD) offshore wind farm projects in Taiwan. Additionally, the appreciation of the Taiwan dollar contributed to foreign exchange gains from loans. The Xayaburi Power project in Laos PDR also performed better due to increased electricity generation. Improved financial cost management led to an 88 million baht reduction in financial costs, strengthening the company’s financial structure and boosting confidence among shareholders and financial institutions. GPSC has also received a stable outlook from Fitch Ratings.
For the first six months of 2025, GPSC reported a net profit of 3,159 million baht, marking a 38% increase compared to the same period in the previous year. This rise was largely driven by a 732 million baht increase in dividends and profit sharing from investments in associates and joint ventures. Avaada Energy Private Limited (AEPL) in India, which operates in the renewable energy sector, saw enhanced performance due to heightened electricity generation from newly operational projects. Meanwhile, CFXD experienced increased revenue from electricity sales following its commercial operation date in Q1 2025. The appreciation of the New Taiwan dollar also contributed to foreign exchange gains, while decreased expenses were noted due to early loan repayments and reduced costs in power plant maintenance and insurance. Consequently, the company’s operations have not faced significant impacts recently.
Looking ahead to the second half of the year, GPSC plans to continue its strategy of ensuring power plant stability and electricity security while efficiently managing investment projects. The company is focused on the EBITDA Uplift project to reduce costs and improve efficiency, alongside exploring investment opportunities to foster growth in promising areas.