Nonthaburi – RATCH Group Public Company Limited reported net profit of THB 6,220 million for its operating performance in 2025 and the Earnings before interest, taxes, depreciation, and amortization (EBITDA) of THB 15,322 million. The Board of Directors, at the meeting No.2/2026 held on 26 February 2026 approved the annual dividend payment to shareholders totaling THB 3,480 million (THB 1.60 per share) representing 55.94% of the net profits for this year. The Board’s resolution will be proposed to the General Sharholders’ Meeting on 23 April 2026 and it is expected that the dividend payment will be made on 22 May 2026.
In 2025, the Company reported total revenue of THB 35,919 million. The power generation business remained the primary contributor, generating revenue of THB 33,641 million, accounting for 94% of total revenue. Of this amount, revenue from conventional power plants totaled THB 28,542 million, while renewable power plants generated THB 5,099 million. Infrastructure and other businesses contributed THB 2,278 million, representing 6% of total revenue.
Mr. Nitus Voraphonpiput, Chief Executive Officer of RATCH Group, stated that the Company’s operating performance in 2025 demonstrated continued growth, with profit increasing by 1.5%, despite challenges arising from the expiration of the Power Purchase Agreement for Ratchaburi Thermal Power Plants in October 2025. To date, Ratchaburi combined cycle power plants, with installed capacity of 2,175 megawatts, have continued to operate and supply electricity to support national power security. Over the past year, the Company has continued to focus on asset management as a core strategy to drive value creation and sustainable growth. This strategy has delivered tangible results, as reflected in the operational performance of its power plants, with the Equivalent Availability Factor (EAF) averaging 90%. In addition, the Company has restructured its investment portfolio to align with its new strategic direction and the evolving energy business landscape in each country in which it operates.
“For this year, the Company has planned investments in the power generation business both in Thailand and overseas. In the short to medium term, in addition to renewable energy projects, the Company is also strategically considering equity investments in operating primary fuel projects aligned with the energy transition pathway. These investments aim to support a gradual reduction in greenhouse gas emissions while maintaining national energy security. Furthermore, the Company continues to study the feasibility of developing and investing in future energy businesses, including sustainable aviation fuel, green hydrogen, green ammonia and bioenergy, to achieve tangible outcomes. The Company has fully prepared the necessary financial and human resources, reinforcing its confidence that operations this year will continue to grow steadily and create sustainable value for stakeholders, as well as for the environment,” Mr. Nitus said.
As of 31 December 2025, the Company recorded total assets of THB 238,004 million, total liabilities of THB 130,357 million, and shareholders’ equity of THB 107,646 million. The Company continues to maintain a strong financial position, as reflected by a return on equity of 10.75 percent and a debt-to-equity ratio of 1.21 times.
On 18 September 2025, the Company paid an interim dividend for the first six-month operating period (January–June) totaling THB 1,740 million, equivalent to THB 0.80 per share. Accordingly, the remaining dividend of THB 1,740 million, or THB 0.80 per share, will be paid subject to approval by the Shareholders’ Meeting. The payment is expected to be made on 22 May this year.