News and Media

PSG Corporation Public Company Limited, or PSGC, an integrated construction service provider with over 40 years of experience, is advancing its strategic corporate transformation toward becoming a “Regional Energy & Natural Resources Developer”, following the announcement of its strong, record-high Q1/2026 performance, with total revenue of Baht 2,600 million, an increase of 304% year-on-year. The result reflects the success of the Company's expansion into the energy value chain across the CLMV region and reinforces confidence in achieving an annual revenue target of over Baht 20,000 million by 2035, supported by two key strategies: driving the energy resources supply chain through Nam Tien Limited Liability Company (NT) in Vietnam, and developing the renewable energy business through Pumped Storage Hydropower (PSH) project development in Lao PDR.

Mr. David Van Dau, Chief Executive Officer of PSG Corporation Public Company Limited, or PSGC, disclosed that the Company recorded significant growth in Q1/2026, with total revenue of Baht 2,600 million, up 304% year-on-year and net profit of Baht 267.4 million, up 171% — This represents the highest performance on record for the Company. Key growth drivers in this quarter included continued revenue recognition from ongoing construction projects, as well as the consolidation of NT’s financial performance beginning in Q1/2026.

“The record-high Q1/2026 performance reflects that PSGC's corporate transformation strategy — from an integrated construction service provider to a regional energy and natural resources developer — is on the right track. Our expansion into the energy value chain across the CLMV region not only establishes a new, stable, and continuous revenue base, but also reshapes the Company's revenue structure from one that depends primarily on construction projects to a recurring income structure that delivers stability and grows in line with regional energy demand. We are confident that the momentum generated in the first quarter of this year will be a critical starting point in achieving our 2026 revenue target of over Baht 10,000 million, and in expanding our revenue base to a level of more than Baht 20,000 million per year by 2035,” Mr. David said.

One of PSGC's key strategies is to drive the energy resources supply chain through Nam Tien Limited Liability Company (NT), a Vietnam-registered company engaged in the energy resources supply chain and the cross-border transportation of coal between Lao PDR and Vietnam. PSGC acquired a 64% stake in NT for USD 23 million, or approximately Baht 750 million, with the transaction completed on 12 February 2026. NT's financial statements have been consolidated into PSGC from Q1/2026 onwards. NT has set a coal sales target of 4 million tons in 2026 under sale-and-purchase agreements with state-owned energy enterprises in Vietnam.

The second strategy involves the development of the renewable energy business through Pumped Storage Hydropower (PSH) project development — a large-scale energy storage technology that will support the stability of the electricity system and the transition to clean energy across the region. In May 2025, the Company signed a Memorandum of Understanding (MOU) with Electricite Du Laos (EDL) to study the development and upgrading of existing hydropower plants into PSH systems, integrating renewable energy into the national power grid — in line with ASEAN's clean-energy transition policy.

PSGC's integrated construction business, which has been the Company's core business for over 40 years, continues to generate revenue from ongoing projects, including the XPPL Expansion Phase 1 and the new community and basic infrastructure construction project in Lao PDR. Moving forward, PSGC will focus on selecting construction projects that are linked with the Group's energy and natural resources businesses, to ensure strategic alignment and to create Cross-business Value Creation within the PSGC Group.

In addition to proactive business expansion, PSGC has adjusted its accounting capital structure through a Reverse Stock Split (share consolidation and capital reduction), to enhance the clarity of share value that genuinely reflects the Company's potential. This adjustment represents a reorganization of the accounting capital structure to align with the Company's new business direction, building long-term confidence among shareholders and investors.

Ms. Somruedee Halilamien, Chief Financial Officer of PSG Corporation Public Company Limited, commented: “The growth in revenue and net profit in Q1/2026 reaffirms the strength of PSGC's financial position and the Company's ability to generate continuous cash flow from its core business. The operation of the energy resources supply chain through NT, whose financials have been consolidated from this quarter onwards, will be a significant driver of revenue and profit for PSGC over the long term. Furthermore, the adjustment of the accounting capital structure through the Reverse Stock Split will bring greater clarity to the Company's financial structure. All of this gives us full confidence that PSGC will achieve its long-term revenue target of more than Baht 20,000 million per year by 2035.”