Manufactures transformers and provides maintenance and repair services. Designs, installs and constructs substations. Also manufactures and distributes solar cells and solar panels, and provides design and installation services for solar power generation systems.
| 3M25 | 3M24 | 2024 | 2023 |
|---|
| Revenues | 569.35 | 459.20 | 2,587.26 | 2,300.96 |
| Expenses | 445.11 | 403.59 | 2,216.35 | 1,991.19 |
| Net Profit (Loss) | 91.51 | 37.97 | 279.98 | 220.51 |
| Assets | 2,329.86 | 2,352.73 | 2,381.59 | 2,247.13 |
| Liabilities | 557.45 | 818.51 | 700.67 | 751.87 |
| Shareholders' Equity | 1,770.99 | 1,532.75 | 1,679.48 | 1,494.78 |
| Operating | 146.62 | -50.02 | 285.48 | 387.74 |
| Investing | 66.95 | -24.22 | -64.39 | -118.79 |
| Financing | -104.87 | 20.07 | -225.41 | -96.66 |
| EPS (Baht) | 0.06 | 0.03 | 0.19 | 0.15 |
| GP Margin (%) | 34.83 | 25.98 | 28.52 | 25.21 |
| NP Margin (%) | 16.07 | 8.48 | 10.86 | 9.59 |
| D/E Ratio (x) | 0.31 | 0.53 | 0.42 | 0.50 |
| ROE (%) | 20.19 | 13.83 | 17.64 | 15.37 |
| ROA (%) | 19.30 | 12.65 | 16.54 | 13.90 |
AKR moves forward with transformer development to support the growth of solar energy.
Electricity demand tends to grow continuously, especially renewable energy like solar energy, which is rapidly gaining popularity from both the public and private sectors. AKR Ready to move forward according to the Power Development Plan PDP 2018 (Rev.1), which focuses on promoting clean energy, especially self-generation from solar power, resulting in the transformer market tending to expand accordingly.
AKR as a leader in transformers in Thailand, never stops developing in terms of product innovation and manufacturing process by focusing on the application of modern technology to increase production speed, along with controlling quality to exceed standards with the goal of Zero Defect, minimizing waste in the production process. In addition, also focuses on providing services that meet all customer needs, including building strong collaborative networks with designers and contractors, along with promoting knowledge about proper transformer maintenance to extend its lifespan.
AKR participates in expressing its intention for the energy conservation network "Energy Beyond Standards 2025"
AKR joined in expressing its intention in the project “Energy Beyond Standards 2025 ” and received a certificate of honor from Permanent Secretary of the Ministry of Energy at the Electricity Generating Authority of Thailand. This project is a collaboration between various government and private agencies that share the goal of driving energy conservation policies to achieve tangible results. It focuses on increasing energy efficiency, reducing greenhouse gas emissions to net-zero, and driving towards carbon neutrality. AKR's participation in this energy conservation network reflects our commitment to sustainable business practices and contributing to solving national energy and environmental challenges.
AKR seizes opportunity after earthquake, undertakes transformer inspection in high-rise buildings in Bangkok.
The earthquake has raised public awareness regarding the safety of high-rise buildings in Bangkok and surrounding areas, particularly concerning electrical systems and transformers that may be affected by seismic vibrations. This has led to an increased demand for inspection and maintenance of electrical transformers in many buildings. AKR anticipates a significant rise in maintenance service opportunities.
Performance Overview in Q1/2025
AKR operating results improved compared to the same period last year. The main factors were increased revenue recognition from the delivery of transformers to both public and private sector customers. Coupled with income from the sale of assets in Rayong province, net profit increased significantly. Revenue from sales, primary source of income, increased by 78 MB or 22% from the delivery of transformers to private and public sector customers. Revenue from solar power system installation decreased by 9.6 MB or 21% due to revenue recognition based on the progress of several projects nearing completion. Meanwhile, service revenue decreased by 9.85 MB or 20% because there was high-value revenue recognition from the construction of a parking lot in Q1/2024 but in Q1/2025, there were no projects. Other income was from the sale of solar cell factory asset in Rayong, amounting to 52.60 MB (profit before income tax). This factory has not been used for business operations for a long time. Regarding cost management, comparing the proportion of costs to operating revenue shows slight increase. Selling expenses increased in line with the increase in revenue. Service and maintenance costs decreased by 21%, and solar power system installation costs decreased by 17%. The increase in distribution costs was due to expenses related to transformer sales and sales promotions from participating in trade shows to enhance the corporate image. To mitigate risk of exchange rate fluctuations, we closely monitored trends. This resulted, increase in exchange rate gains of 125%. Net profit increased by 91.49 MB or 135%.
FTI EXPO 2025 exhibition
AKR Jointly driving Thai industry towards the future under the concept of sustainable energy at FTI EXPO 2025. By presenting the latest innovation “Special Dry Type Cast Resin Transformer ” which can reduce fuel consumption by up to 100%. It has high safety and is suitable for both indoor and outdoor installations. It also presents a variety of electrical system and energy products at the Queen Sirikit National Convention Center on February, 2025.
AKR reviews and strengthens risk management, focusing on ESG and Emerging Risk
AKR prioritize comprehensive risk management by planning Review of business operating risks to effectively cope with changes in various environments, especially ESG and Emerging Risk, which are emerging risks that may affect the organization in the future. The establish guidelines for continuous monitoring and assessment of ESG risks, along with integrating the risk management process with corporate strategy to enhance adaptability and build business resilience.
- Certified to TIS 384-2567 (new edition) and Continuously certified to ISO/IEC 17025 for electrical testing laboratories by the Thai Industrial Standards Institute (TISI).
- Continuously certified to Thai Labor Standard TLS 8001 by the Department of Labor Protection and Welfare.
| as of 31/03/25 | AKR | IMM | SET |
|---|---|---|---|
| P/E (X) | 5.26 | 15.40 | 15.78 |
| P/BV (X) | 0.88 | 0.75 | 1.10 |
| Dividend yield (%) | 10.00 | 4.60 | 4.37 |
| 31/03/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 1,471.90 | 1,501.34 | 1,221.37 |
| Price (B/Share) | 1.00 | 1.02 | 0.83 |
| P/E (X) | 5.26 | 6.00 | 6.06 |
| P/BV (X) | 0.88 | 0.96 | 0.86 |
