The transformer manufacturer that provides repair and maintenance service, design and buildup the substation, installation for equipment and industrial electric system.Including manufacturer and distributor of Solar Cell and Solar Module, design and installation of Solar Power System.
| 9M25 | 9M24 | 2024 | 2023 |
|---|
| Revenues | 1,365.43 | 1,696.28 | 2,587.26 | 2,300.96 |
| Expenses | 1,206.53 | 1,487.51 | 2,216.35 | 1,991.19 |
| Net Profit (Loss) | 113.10 | 159.18 | 279.98 | 220.51 |
| Assets | 2,150.66 | 2,601.46 | 2,381.59 | 2,247.13 |
| Liabilities | 503.85 | 1,041.21 | 700.67 | 751.87 |
| Shareholders' Equity | 1,645.40 | 1,558.68 | 1,679.48 | 1,494.78 |
| Operating | 220.24 | -175.33 | 285.48 | 387.74 |
| Investing | 43.40 | -55.06 | -64.39 | -118.79 |
| Financing | -260.95 | 61.74 | -225.41 | -96.66 |
| EPS (Baht) | 0.08 | 0.11 | 0.19 | 0.15 |
| GP Margin (%) | 28.82 | 26.82 | 28.52 | 25.21 |
| NP Margin (%) | 8.28 | 9.45 | 10.86 | 9.59 |
| D/E Ratio (x) | 0.31 | 0.67 | 0.42 | 0.50 |
| ROE (%) | 14.60 | 16.78 | 17.64 | 15.37 |
| ROA (%) | 13.45 | 14.30 | 16.54 | 13.90 |
AKR advances transformer development, embracing the growth trend of solar energy.
The demand for electricity continues to grow, especially for renewable energy sources like solar power, which is rapidly gaining popularity from both government and private sectors. AKR ready to move forward in accordance with the national Power Development Plan PDP 2018 (Rev.1), which focuses on promoting clean energy, especially self-consumption electricity generation from solar power, leading to a corresponding expansion in the transformer market. AKR as a leader in transformers in Thailand, it continuously develops in terms of product innovation and production process By focusing on adopting modern technology to increase production speed, while controlling quality to exceed standards with a Zero Defect goal, minimizing waste in the production process.
In addition, it emphasizes providing services that meet all customer needs, including building strong collaborative networks with designers and contractors, while promoting knowledge on proper transformer maintenance to extend their lifespan.
AKR joined in expressing its intent for the energy conservation network (Energy Beyond Standards 2025).
The declaration of intent for the energy conservation network is a multi-institutional collaboration expressing a commitment to concretely drive energy-saving policies, aiming to enhance energy efficiency, achieve Net-Zero GHG Emission, and Carbon Neutrality. AKR received the declaration of intent for the energy conservation network from Mr. Prasert Sinsukprasert, Permanent Secretary of the Ministry of Energy, at the Electricity Generating Authority of Thailand.
AKR receives Outstanding Organizational Leader Award for 2025
Prime Minister Mr. Anutin Charnvirakul presented the award “Outstanding Organizational Leader in the Industrial Products Sector for 2025” to Ms. Rompissri Noichaiboon Managing Director of AKR, at CEO Econmass Awards 2025 organized by Economic Reporters Association, its' reflects commitment to driving business with good governance, social responsibility, and serves as an inspiration to enhance the nation's competitiveness by honor outstanding and strong organizational leaders.
Overall Operating Performance for the 9M/2025 Period
Net profit of 9M/2025 period was 113 million baht, decrease of 29.5% compared to the same period last year.
Operating Revenue decreased by 383 million baht or 22.7% from the same period last year. This was primarily due to 23.6% decrease in revenue from sales of transformer, in line with the economic slowdown and lower government agency budgets. Revenue from service of installing solar panel decreased by 53.4% as several projects were nearing completion and most of the revenue had already been recognized based on project success. Revenue from service and maintenance decreased slightly 0.4% from contracted service work. Meanwhile, revenue from sale of electricity increased by 63.8% from the sale of solar power generation systems to two private customers.
Cost Management Operating costs decreased in line with the decrease in revenue. Cost of goods sold decreased by 25.7%, cost of service of installing a solar panel decreased by 54.6%, and the cost of services and maintenance decreased by 3%. Meanwhile, the cost of electricity sold increased by 143.2%.
Distribution Costs increased by 15.9%, primarily due to non-tax-deductible expenses, which are expenses that cannot be claimed for tax purposes, including various sales promotion expenses to enhance the organization's image.
Administrative Expenses increased by 7.2%, primarily due to employee-related expenses and the payment of specific business tax from land sales in Rayong province.
AKR is committed to continuously reducing operating costs by adhering to the production of "quality products meet standards," which customers have always trusted.
Upgrading the Chachoengsao Service and Sales Center
AKR is currently constructing a new Chachoengsao Service Center to be a comprehensive, modern, and aesthetically pleasing model service center that can meet customer needs in all aspects, both of sales and maintenance services, in accordance with the standards of AKR . It is expected to be completed within 2025.
The slowdown of Thai economy, political uncertainty, and cross-border tensions with Cambodia pose key risks to Thailand’s economic and investment policies, particularly in infrastructure and energy. AKR has strengthened its risk management by diversifying customers and partners, investing in new technologies to reduce dependency on government and private sector projects, ensuring long-term business resilience.
AKR has been ranked in the list Outstanding Public Company in the Asia-Pacific Region "Best Under A Billion 2025" from Forbes Asia.
AKR is one of 17 public companies in Thailand selected by Forbes Asia magazine to be included in the 200 Best Under A Billion 2025 list for the second year. Demonstrating AKR's potential through its outstanding performance, good governance, emphasis on social and environmental aspects, and commitment to sustainable growth.
| as of 30/09/25 | AKR | IMM | SET |
|---|---|---|---|
| P/E (X) | 4.51 | 10.64 | 16.67 |
| P/BV (X) | 0.86 | 0.79 | 1.21 |
| Dividend yield (%) | 10.42 | 4.26 | 3.67 |
| 30/09/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 1,413.02 | 1,501.34 | 1,221.37 |
| Price (B/Share) | 0.96 | 1.02 | 0.83 |
| P/E (X) | 4.51 | 6.00 | 6.06 |
| P/BV (X) | 0.86 | 0.96 | 0.86 |
