WHA targets 5-year revenue of B100bn
published : 2 Feb 2023 at 09:07
newspaper section: Business
writer: Lamonphet Apisitniran
SET-listed WHA Corporation, the country's largest developer of built-to-suit logistics facilities, is targeting revenue of 100 billion baht from 2023 to 2027, alongside 68.5 billion baht in investments.
The five-year revenue target will be driven by core businesses, including logistics, industrial estate development, utilities and power, as well as digital services, said chairman and chief executive Jareeporn Jarukornsakul.
"The economy is recovering following the country's reopening. The country is seeing the recovery of tourism while investors are relocating to Asean, including Thailand and Vietnam, as they want to escape from the trade war and China-Taiwan tensions," she said.
Of the 68.5-billion-baht investment budget, 17 billion baht is for logistics business, 29 billion baht for industrial estates, 18.5 billion baht for utilities and power, and 4 billion baht for digital fields.
Revenue is expected to grow by double digits in 2023, driven by core business growth, said Ms Jareeporn.
The company is sharpening its focus on green logistics, including electric vehicles (EVs) that will cater for customers in industrial estates who want to apply green energy to their businesses.
"WHA expects to supply 80,000 EV trucks to customers in WHA's industrial estates over the next three years, including those in Thailand and Vietnam," said Ms Jareeporn.
WHA plans to join forces with global carmakers for the green logistics scheme to supply EV vehicles to customers, she said.
The company is in talks with a global auto firm which wants to buy WHA's industrial estate land for investment, with a deal expected in the first half of this year.
"If the deal succeeds, the company will revise up our revenue target in the mid-year," Ms Jareeporn said.
WHA is aiming for sales of its industrial estate land to reach 1,750 rai in 2023 -- 1,200 rai in Thailand and 550 rai in Vietnam.
Last year, WHA sold 1,740 rai of land in Thailand and Vietnam, thanks to positive investment sentiment and sustained customer development activities.
For the utilities and power business, the company is targeting cumulative signed power purchase agreements (PPAs) for up to 847 megawatts in total this year, from 683MW in 2022. Last year's total was comprised of 547MW for conventional power, 133MW for solar energy, and 3MW for industrial waste energy.
Ms Jareeporn said renewable energy projects will be further developed with cumulative signed PPAs reaching 300MW by the end of 2023.
WHA will continue to implement innovative and sustainable practices while seeking opportunities with new S-curve businesses such as battery energy storage systems, hydrogen, carbon trading and carbon capture utilisation and storage, she added.