TOA Posts 30% First Quarter Profit Growth, Accelerating International Expansion

TOA Paint (Thailand) Public Company Limited, Thailand's leading manufacturer of paints, construction chemicals, and building materials, reported first quarter 2025 results showing continued growth amid Thailand's economic slowdown. Total revenue reached 5.681 billion baht, up 4% year-over-year, with net profit of 953 million baht, growing 30%.

Jatuphat Tangkaraveekun, TOA's Chief Executive Officer, attributed the growth to strong performance across core product lines—architectural paints and construction chemicals—in both the Thai market and international territories. Sales continued to expand particularly in Myanmar, Laos, and Vietnam, reflecting the success of the company's product portfolio strategy tailored to meet local consumer preferences in each market. The company aims to establish itself as a Total Solution for Living leader in building materials across all markets while driving sustainable growth both domestically and regionally.

To counter slowdown in the new housing market, TOA adjusted its strategy by diversifying its product mix and expanding its repair and renovation product segment, which continues to show strong demand. Construction chemicals, building materials, mortar, gypsum boards, tiles, sanitaryware, and smart bathroom innovations now play crucial roles in revenue generation and business stability.

In March 2025, the company accelerated risk management measures to address petro-chemical supply chain volatility stemming from Middle East developments. Strategies included sourcing raw materials from alternative suppliers and introducing pre-tested alternative materials to mitigate tight supply impacts. The company also adjusted production and sales planning while implementing appropriate pricing strategies to maintain competitiveness and offset rising costs.

Despite expectations of increased energy and raw material cost volatility from the second quarter onward, Jatuphat expressed confidence that efficient cost management and comprehensive risk management practices would enable the company to maintain business strength and sustain continued growth.