WHAUP Accelerates Investment in Future Industries

Water Highways (WHAUP), Thailand's leading utilities and energy company, is making strategic moves into future industries to capitalize on growing water and power demand and create a new revenue growth curve. At an analyst meeting on September 7, 2024, CEO Akrin Prateungsittikul and CFO Praphan Chinudomsap reported Q2 2024 results showing strong momentum: combined revenue and ordinary profit share totaled 1.258 billion baht (up 36% year-over-year), and normalized net profit reached 532 million baht (up 276% year-over-year). Growth was driven by rising water sales in Thailand and Vietnam, alongside a significant recovery of Gheco-One power plant, which returned to full production after maintenance downtime in the previous quarter.

WHAUP plans to ramp up investment to support future-facing industries, positioning the company to expand its revenue base and build a new long-term growth curve. For its water business, the company is preparing to meet demand through reclaimed water solutions and advanced water resource management technologies aligned with its Water Positive goal. On the electricity side, WHAUP is readying infrastructure to facilitate clean energy transactions via direct power purchase agreements (Direct PPA) once the government unlocks the policy, while also researching and developing emerging technologies such as small modular reactors (SMR) and carbon capture to unlock new business opportunities and drive corporate sustainability.