TEAMG Reports 29% Q2 Profit Growth to 61 Million Baht
TEAMG's second-quarter profit jumped 29% to 61 million baht, driven by new government contracts including a royal zoo expansion and a Bangkok commuter rail project worth nearly 700 million baht combined.
TEAMG reported steady growth in first-half 2025 earnings on August 13, with revenue of 1,266 million baht, up 22% year-on-year, and net profit of 111 million baht, up 18%. Chief Executive Chawalit Jantraratana said second-quarter revenue reached 635 million baht, up 19%, while profit climbed to 61 million baht, up 29%.
The company's backlog grew significantly following new contracts including work on Phase 2 of a new zoo project run by Thailand's Public Organization under royal patronage, valued at 434 million baht (10% stake), and engineering consultation services for the light red commuter rail line between Siriraj and Salaya, worth 258 million baht.
At the end of Q2, TEAMG's accumulated backlog reached 5,988 million baht, up 3% from year-end 2024. Government projects comprise 71% of the portfolio. The engineering and procurement construction business segment surged 114%, generating 495 million baht in revenue, while consulting, design, and infrastructure work brought in 433 million baht. The company aims to secure at least 1,000 million baht in additional contracts during the second half of the year.
