Gulf Development (SET:GULF) expects its revenue to grow by around 12-15% in 2026, up from 135.6 billion baht a year ago, according to the second-quarter earnings presentation released by the company on Wednesday.
The revenue growth is expected to be driven by new plants and greater growth in the telecommunications and data-center businesses.
The company aims to add 700MW of new solar and waste-to-energy capacity in the second half of the year, the presentation showed. It expects the electricity demand also to remain strong on the back of the growth in data centers and electric-vehicle use.
The earnings are also expected to receive a boost from the higher capacity payments at its Jackson plant in the US.
In the telecommunications and data space, the company expects to receive a lift from the strong contribution from its unit AIS, with an expected rise in the average revenue per user in mobile and fixed broadband.
The company also plans to issue debentures worth 20 billion baht to be offered to the public, high net worth, and institutional investors in October.