Mitihoon – GPSC has demonstrated strong financial standing and cash flow, reinforcing its ability to manage volatility while easing cost pressures through a pass-through revenue structure. The Company continues to advance its EBITDA Uplift strategy to enhance operational efficiency and proactively manage risks arising from geopolitical uncertainties in the Middle East.
Mr. Worawat Pitayasiri, Chief Executive Officer of Global Power Synergy Public Company Limited or GPSC, the innovative power flagship of PTT Group, revealed that the Company’s business plan for this year reflects its readiness to manage risks from various factors. This is supported by its current strong financial position and cash flow, as well as its effective portfolio management capabilities and business resilience amid volatile energy market conditions. GPSC continues to implement its EBITDA Uplift initiatives to systematically enhance operational efficiency and cost control, thereby strengthening earnings stability and reinforcing investor and shareholder confidence.
GPSC stated that more than 70% of its current revenue structure is secured under pass-through mechanisms in accordance with contractual arrangements. This helps mitigate volatility from fuel costs and external factors while supporting consistent cash flow generation to ensure business continuity. The Company aims to further increase the proportion of such revenue in the future to enhance income stability and reduce overall earnings volatility.
At the same time, the Company has seen positive momentum from a declining cost of debt because of proactive debt capital management. This aligns with the recent downward trend in policy interest rates following last week’s rate adjustment by the Bank of Thailand, which is expected to reduce interest expenses and support net profit growth in 2026.
In addition, the Company expects further improvement from improved performance of its overseas and domestic associates, especially renewable energy businesses. In 2025, profits from associates and joint ventures amounted to THB 1,389 million, reflecting improved portfolio diversification and contributing to greater earnings stability, while also mitigating the impact of fuel cost fluctuations.
Regarding concerns over the situation in the Middle East, the Company continues to closely monitor developments under its proactive risk management framework. Most contractual structures allow fuel cost pass-through in accordance with established mechanisms. This is complemented by effective fuel management and hedging strategies to maintain operational stability and minimize the impact of power market volatility. GPSC reaffirmed its readiness to manage costs and liquidity prudently to sustain stakeholder confidence going forward.
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