KEY POINTS
- mai-listed companies reported first-half 2025 total sales of THB 100.87 billion, down 3.9 percent year-on-year, with total operating profit of THB 6.36 billion, down 19.3 percent year-on-year.
- The Services industry group demonstrated positive growth across sales, operating profit, and net profit.
mai President Prapan Charoenprawatt noted that 218 companies, representing 97 percent of the total 225 mai-listed companies (excluding those in the non-compliance or NC group and companies with different closing date for accounting periods), already submitted their earnings reports. For the January-June 2025 period, mai-listed firms registered total sales of THB 100.87 billion (approximately USD 3.10 billion), declining 3.9 percent year-on-year, and costs of sales of THB 74.39 billion, down 3.8 percent year-on-year, resulting in gross profit of THB 26.48 billion, down 4.1 percent from the previous year. Selling, general and administrative (SG&A) expenses rose 2.0 percent, contributing to a 19.3 percent drop in operating profit to THB 6.36 billion. Net profit decreased 42.7 percent to THB 3.20 billion due to significant net profit drops experienced by certain listed companies. Profitability-wise, the gross profit margin (GPM) of mai-listed companies remained stable at 26.3 percent while their operating profit margin (OPM) and net profit margin (NPM) fell to 6.3 percent and 3.1 percent, respectively.
“Despite the declines in first-half total sales and net profit, 103 companies or 47 percent of mai-listed firms that submitted their financial statements registered sales growth. The decreases stemmed primarily from economic slowdown and the significant contractions at certain listed firms. These factors have persistently pressured the overall financial performance of listed companies since the first quarter of 2025. In addition, SG&A expenses increased from sales-driving investments by certain companies. For this quarter, sales growth was sustained across three industry groups: Agro&Food Industry, Services, and Technology,” mai President explained.
On financial position, mai-listed companies reported total assets of THB 328.16 billion, up 0.13 percent from the end of 2024. Their capital foundation remained strong with the debt-to-equity (D/E) ratio of 0.79 times, unchanged from the level reported at end-2024.
As of August 28, 2025, there were 225 mai-listed companies and mai Index closed at 250.74 points, with a total market capitalization of THB 247.04 billion and an average daily trading value of THB 569 million.
