GPSC Posts Strong Q1 Earnings of 1.72 Billion Baht on Industrial Demand and Cost Management

Global Power Synergy (GPSC) reported first-quarter 2025 net profit of 1.72 billion baht, representing a 51% increase from the same period last year and a 15% jump from the previous quarter, according to CEO Vorawat Pithyasiri. EBITDA stood at 4.43 billion baht, up 6% sequentially, reflecting the company's ability to manage its business portfolio efficiently despite ongoing volatility in the energy sector.

The company maintained its core business strength while controlling financial costs, operational expenses, and continuously improving asset efficiency. Small Power Producer (SPP) business segment saw improved electricity and steam sales to industrial customers, with electricity sales rising 3% year-over-year and steam sales increasing 9%, reflecting steady industrial energy demand.

Investment in foreign operations continues as a key growth driver. The Xayaburi hydroelectric plant in Laos (XPCL) benefited from increased water volume and successful debt restructuring that reduced financing costs. The offshore wind farm in Taiwan (CFXD) adjusted seasonally but recognized revenue from wind turbine availability guarantees.

Renewable energy projects in India through Awada Energy Private Limited (AEPL) progressed on schedule, with approximately 1,099 megawatts of new capacity becoming commercially operational in Q1 2025, enhancing the company's international renewable portfolio. GPSC aims to achieve sustainable growth through operational excellence, investment portfolio management, and expansion of clean energy businesses both domestically and internationally, strengthening financial performance and shareholder returns while positioning itself as an innovation leader in the PTT Group's future energy initiatives.