AGE Profit Surges 139.5%, Targets 17.5 Billion Baht Revenue This Year
Asia Green Energy reported a 139.5% surge in first-quarter profits to 102.4 million baht, with non-coal businesses now representing 40% of revenue as the company targets 17.5 billion baht in total 2025 revenue across coal, logistics, sustai
Deputy Managing Director Panita Kworsathapon of Asia Green Energy (AGE) announced first-quarter 2025 results showing net profit of 102.4 million baht, representing 139.5% growth. The company generated 1.938 billion baht from coal operations and 1.296 billion baht from non-coal businesses, which now account for 40% of total revenue. First-quarter total revenue reached 3.234 billion baht, reflecting successful business operations and portfolio expansion into high-growth sectors.
For 2025, AGE targets coal sales of 4 million tonnes and combined revenue of 17.5 billion baht across four main business divisions: Coal (1.938 billion baht, 0.84 million tonnes sold), Smart Logistics (109 million baht), Sustainable Energy (398 million baht), and Low Emission Mobility (789 million baht). The company is expanding EV and hybrid vehicle sales through 11 showrooms representing five brands including Omoda & Jaecoo, Zeekr, GWM, Chery, and Mitsubishi Motors.
AGE successfully issued three new bond tranches (6.85-7.00% annual interest) in May, with investor response exceeding expectations. Proceeds will refinance short-term institutional loans used for coal imports, improving liquidity and supporting future growth. The company is also implementing its Jump+ project, which includes solar rooftop installations completed in the first quarter, aiming to reduce operational energy costs while advancing sustainable energy and low-emission mobility initiatives through 2030.
