KEY POINTS
- Thai listed companies have posted increased profits driven by the energy and petrochemicals sectors on the back of higher oil prices.
- Generally, most companies in other sectors have faced challenges in cost management.
- Companies showing growth in Q1 included those in Energy & Utilities, Petrochemicals & Chemicals, Finance (retail), Commerce, Tourism & Leisure (hotel), and Information & Communication Technology sectors.
SET President Asadej Kongsiri stated that 813 companies, representing 93.7 percent of the total 868 listed companies (comprising SET-listed and mai-listed companies scheduled to submit financial statements ended March 31, 2026, and excluding real estate investment trust or REIT and infrastructure funds or IFF), have already reported their earnings for Q1/2026. Of these, 624 listed companies, or 76.8 percent reported net profits.
SET-listed firms’ operating results in Q1/2026 compared to Q1/2025 recorded total sales of THB 4.24 trillion (approximately USD 130.63 billion), an increase of 1.2 percent year-on-year. Gross profit reached THB 1.04 trillion, or up 24.7%. Operating profit was THB 506.94 billion, an increase of 56.5 percent, and net profit rose to THB 369.20 billion, or up 25.3 percent. As of March 31, 2026, the debt-to-equity ratio (D/E ratio) of listed companies (excluding the Financials industry) was 1.28 times, down from 1.34 times in Q1/2025.
“In Q1/2026, the Middle East conflict drove oil prices higher, boosting performance for energy and petrochemicals companies through improved profit margins, inventory gains, and markedly higher refining margins. General businesses faced sales pressure and production cost challenges, while commercial banks were affected by the economic slowdown, reflecting in modest loan growth and lower policy interest rates than the prior year. Beyond oil-related sectors, growth was also seen in areas tied to tourism and domestic spending, namely commerce, hotel, technology, and retail lending," added Asadej.
As for the Market for Alternative Investment (mai), mai-listed companies reported the Q1 /2026 results’ total sales of THB 51.66 billion, an increase of 3.3 percent, operating profit of THB 3.92 billion, an increase of 7.8 percent, and total net profit of THB 2.53 billion, or up 25.3 percent. This financial gain resulted from prudent management of production and sales costs amid weakening purchasing power.
