BAFS Reports Profit of 152 Million Baht, Implements Strategic Adjustments to Control Costs and Manage Risks

BAFS GROUP revealed first-quarter 2025 results showing net profit attributable to shareholders of 151.8 million baht, a 6% increase from the previous year, as the company pursues strategic adjustments and aggressively expands all business segments. CEO Natthsith Dithkul reported total revenue of 967 million baht with earnings per share of 0.22 baht, net profit margin of 14%, and EBITDA of 532.9 million baht, up 2% year-over-year.

The Aviation segment maintained service volume growth despite external pressures and uneven regional recovery, with aircraft fueling at 1,486 million liters—a 5% increase representing 92% of pre-COVID-19 levels and 27% of the annual target of 5,560 million liters. The Utilities segment reported revenue of 102.9 million baht, down 12% due to reduced storage and ground transportation fees from tight oil market conditions in late March 2025. The Power segment generated 74 million baht from electricity sales with operating expenses down 4%.

Despite global economic volatility and rising travel costs, Thailand's tourism sector continues driving economic growth in Q1 2025. Domestic flight routes expanded 14% and returned to pre-pandemic levels, while European routes grew 8%, East Asia-Pacific routes (the main market) expanded 3%, and Middle East routes grew 3% despite geopolitical pressures. The company recently received a BBB(tha) corporate credit rating from Fitch Ratings with a stable outlook, affirming confidence in its financial strength and position as a leading comprehensive aircraft fueling service provider and energy business leader.

Amid global energy volatility affecting aviation industry recovery, the company maintains business strength and group structure while efficiently managing operating costs and expenses.