Business Segments Gulf Energy Development

Equities

End-of-day quote Thailand S.E. Other stock markets 13/03/2026			5-day change	1st Jan Change
56.25 ^THB	0.00%		+0.45%	+34.73%

06/03	Phillip Securities Upgrades Gulf Development to Accumulate from Hold, Price Target is THB60	MT
04/03	DBS Bank Starts Gulf Development at Buy with THB79 Price Target	MT

Breakdown by Business Segment (THB)

Fiscal Period: December	2021	2022	2023	2024	2025
Independent Power Producers and Energy Traders
Power Business	4.68TCr	8.92TCr	11TCr	11TCr	9.4TCr
Total Assets	16TCr	14TCr	15TCr	16TCr	17TCr
Operating Income	1.32TCr	2.19TCr	2.64TCr	3.18TCr	2.55TCr
Power Business - Others	-	-	-	-	-
Total Assets	-	-	-	-	-
Gross Profit	-	-	-	-	-
Operating Income	-	-	-	-	-
Power Business - Thailand	-	-	-	-	-
Total Assets	-	-	-	-	-
Gross Profit	-	-	-	-	-
Operating Income	-	-	-	-	-
Satellite Communication Services
Satellite and Digital Business	-	-	262.7Cr	241.3Cr	225.4Cr
Total Assets	-	227.6Cr	207.9Cr	455.9Cr	599.2Cr
Operating Income	-	-	51Cr	25Cr	41Cr
Consulting Services
Consulting Business	129Cr	159.4Cr	193.2Cr	208.7Cr	206.3Cr
Total Assets	7.2Cr	14Cr	22Cr	23Cr	21Cr
Operating Income	1.21TCr	1.14TCr	3.09TCr	3.4TCr	4.07TCr
Consulting Business - Others	-	-	-	-	-
Total Assets	-	-	-	-	-
Gross Profit	-	-	-	-	-
Operating Income	-	-	-	-	-
Consulting Business - Thailand	-	-	-	-	-
Total Assets	-	-	-	-	-
Gross Profit	-	-	-	-	-
Operating Income	-	-	-	-	-
Heavy Construction
Infrastructure Business	16Cr	421.2Cr	419.5Cr	361.6Cr	194.5Cr
Total Assets	9.3Cr	24Cr	30Cr	36Cr	7.8Cr
Operating Income	1Cr	37Cr	64Cr	87Cr	57Cr
Total Assets	-	-	-	-	-
Operating Income	-	-	-	-	-
Eliminations	-82Cr	-89Cr	-82Cr	-132.9Cr	-138.8Cr
Total Assets	-2.53TCr	-4.13TCr	-5.82TCr	-7.32TCr	-7.08TCr
Gross Profit	-	-	-	-	-
Operating Income	-1.2TCr	-1.69TCr	-3.81TCr	-4.36TCr	-4.73TCr
Total Assets	23TCr	32TCr	37TCr	41TCr	67TCr