B.Grimm Power is dedicated to becoming a premier global electric power producer and supplier, contributing to infrastructure advancement, ensuring energy stability, and mitigating carbon emissions for the betterment of national, regional, and global economies and industries. We uphold the principles of social, economic, and environmental sustainability while making substantial investments in human capital and technology to enhance competitiveness.
Currently, B.Grimm Power operates 67 power plants with a total installed capacity of 4,155 MW (or 2,689 MW in equity capacity). By incorporating developing projects and those currently under construction (committed projects), our projected installed capacity is 6,169 MW (or 3,721 MW in equity capacity).
| 6M25 | 6M24 | 2024 | 2023 |
|---|
| Revenues | 29,345.53 | 28,344.78 | 57,023.20 | 58,228.53 |
| Expenses | 25,132.70 | 23,664.89 | 47,803.74 | 49,211.31 |
| Net Profit (Loss) | 660.78 | 607.17 | 1,556.87 | 1,889.29 |
| Assets | 180,501.48 | 179,016.42 | 180,900.72 | 177,045.58 |
| Liabilities | 129,776.55 | 125,881.68 | 129,229.21 | 124,331.00 |
| Shareholders' Equity | 34,882.41 | 38,498.01 | 36,086.18 | 38,138.07 |
| Operating | 8,739.53 | 6,660.72 | 7,443.43 | 13,753.73 |
| Investing | -3,866.50 | -7,764.70 | -15,677.50 | -12,519.51 |
| Financing | -5,443.90 | -5,232.38 | -1,348.53 | -1,997.94 |
| EPS (Baht) | 0.08 | 0.07 | 0.26 | 0.44 |
| GP Margin (%) | 16.97 | 19.00 | 18.99 | 17.84 |
| NP Margin (%) | 4.95 | 4.08 | 5.56 | 6.33 |
| D/E Ratio (x) | 2.56 | 2.37 | 2.50 | 2.36 |
| ROE (%) | 4.39 | 3.67 | 4.20 | 5.55 |
| ROA (%) | 4.20 | 5.61 | 5.10 | 5.26 |
ฺB.Grimm Power announces GreenLeap-Global and Green strategy and aims to reach a capacity of 10,000 MW from operating and committed projects by 2030, with over 50% renewable energy sources and achieve net-zero carbon emissions by the year 2050. The strategy includes: 1) Industrial Solutions: Deliver stable, accessible, and sustainable energy to industrial estates through renewable energy and advanced digital tools, empowered by Digital Infrastructure-as-a-Service (DIaaS) with an integrated approach to energy management, digital technologies, and industrial solutions, 2) Independent Power Producer: Expanding the portfolio of renewable energy power plant projects, enhancing efficiency and readiness, to accommodate the global energy transition and 3) Sustainable Fuels: Sourcing fuel for our power plant projects and building expertise in production of alternative fuels for industries and chemical products. This also includes developing synthetic fuels for sectors difficult to decarbonise.
B.Grimm Power's 2023-2030 sustainability strategy, aligned with our "Empowering the World Compassionately" vision, revolves around two core pillars: 1) Sustainable Value Creation: Emphasising sustainable business growth through clean energy, delivering value to society while preserving harmony with nature and addressing important issues that impact both the company and stakeholders and 2) Building a Foundation for Sustainability: Giving importance to fundamental components and conducting business operations under the principles of good governance, with a focus on stakeholder engagement.
In Q2’2025, 13.8 MW of new IUs was synchronised across the Metal, Food and Beverage, and Home Appliance industries, bringing the total of 6M’2025 to 20.7 MW.
In May 2025, B.Grimm Solar Power Inc. (a wholly-owned subsidiary of B.Grimm Power) subscribed to newly-issued shares of Caronsi Solar Energy Corporation, a company in the Republic of the Philippines, undertaking and developing a 65 MW solar PV power project, resulting in holding 97% of the total issued shares.
In Jun 2025, Digital Edge B.Grimm (Thailand) Co., Ltd., a wholly owned by Digital Edge B.Grimm (TH) Holdings Pte. Ltd. (a 40%- owned Joint Venture of B.Grimm Power Holding (Singapore) Pte. Ltd., with Digital Edge (Singapore) Pte. Ltd. holding 60%) had made an investment to develop a greenfield data center platform located in Chonburi Province, with an IT load capacity of 96 MW.
B.Grimm Power reported Q2’2025 performance with Normalised Net Profit (NNP) – owner of the parent of THB 475 million, down 20.4% y-on-y, primarily impacted by the repayment of AF gas cost from Sep-Dec 2023 and higher tax expenses, which weighed on earnings despite some positive contributions from: 1) increase in electricity sales volume to IU in Thailand, 2) higher service income related to the development fee, 3) higher share of profits from associates and joint ventures, and 4) the realised gain from FX.
Net Profit – owner of the parent was THB 7 million, decreased from THB 229 million in the same period of last year due mainly to above mentioned plus a non-cash transaction of unrealised FX loss from the net position of outstanding USD debts and foreign currency transactions.
RES Company Sicilia S.r.l. (RES Company) (a subsidiary of B.Grimm Power) acquired 100% of the total issued shares of Apulia Green Energy 01 S.r.l., which is developing a 218 MW BESS project in Southern Italy. RES Company and LT Service S.r.l. also jointly established Cerignola BESS S.r.l. (51% held by RES Company) to develop an additional 378 MW BESS project.
B.Grimm Power adopts the COSO Enterprise Risk Management Framework (COSO ERM) to manage risks appropriately throughout the company. We emphasise comprehensive risk management at the organisational, business group, and operational levels, including ESG risks. We also prioritise addressing climate change and incorporate recommendations from the Task Force on Climate-related Financial Disclosures (TCFD) into our risk management practices. Additionally, we are committed to combating corruption and have been certified as a member of the Thai Private Sector Collective Action Against Corruption (CAC). We provide channels for reporting misconduct or governance oversight. The Risk Management Committee is responsible for setting risk management policies, overseeing practices, promoting a risk management culture across the organisation, and reporting risk management outcomes to the BOD and the company's committees.
B.Grimm Power won 5 awards at the 15th Asian Excellence Awards 2025, organized by Corporate Governance Asia, a leading financial publication in Hong Kong and Asia. The awards included Asia’s Best CEO, Asia’s Best CFO, Best Investor Relations Professional, Best Investor Relations Company, and Sustainable Asia Award. The awards reaffirm BGRIM’s commitment to good governance, sustainable business practices, and long-term value creation.
| as of 30/06/25 | BGRIM | ENERG | SET |
|---|---|---|---|
| P/E (X) | 14.80 | 11.94 | 14.76 |
| P/BV (X) | 0.75 | 0.87 | 1.03 |
| Dividend yield (%) | 4.13 | 5.23 | 4.39 |
| 30/06/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 27,111.76 | 50,834.55 | 71,038.03 |
| Price (B/Share) | 10.40 | 19.50 | 27.25 |
| P/E (X) | 14.80 | 41.22 | 81.05 |
| P/BV (X) | 0.75 | 1.42 | 1.81 |
