Asia Green Energy Public Company Limited

Asia Green Energy Public Company Limited, or AGE, disclosed that its electric vehicle dealership business under AGE Venture Company Limited has accumulated sales of approximately 5,000 units after about a year and a half of marketing, and has set a target to close 2026 with sales of approximately 4,500 units, or an average of nearly 500 units per month. Mr. Pongtham Danwangdoem, head of investment for the AGE group and managing director of AGE Venture, said that currently AGE Venture operates 10 showrooms covering 5 main brands: Omoda & Jaecoo, Chery, GWM (Great Wall Motor), Mitsubishi and Zeekr, and most recently added the Aion brand, initially sold together with the Chery showroom at Chaengwattana. For the 2027 plan, the company will expand by approximately 2-3 more branches, but will focus on expanding after-sales service, especially investment in paint shops, to increase sales from existing showrooms. Currently revenue from the EV business accounts for approximately 30-35% of total revenue, with a target in 2027 for the automotive business group to account for 35-40% of total sales, and a major goal within 3 years to become the first listed company to build a new business until it accounts for more than 50% of revenue compared with the original business. As for the flood situation, it affected only the short term this month, with all 10 showrooms and the company's vehicles not affected at all, and new car purchases for replacement are expected to return to the system next month, keeping overall sales this year in line with the target. Meanwhile, the AGE group overall has 4 business groups: coal, logistics, biomass and EV dealership, with the coal business still profitable on stable margins and market prices, allowing profit to grow compared with last year, while the biomass business is expected to recover better in the third quarter and fourth quarter of 2026.

Pongtham Danwangdoem, Head of Investment at Asia Green Energy Public Company Limited, or AGE, and Managing Director of AGE Venture Company Limited, told Than Hoon that the government's move to raise the import tariff rate on electric vehicles is likely to settle at a balance point between Japanese and Chinese automakers, and he believes it will not affect sales in the near term, because the EV brands the company manages have already prepared to a certain extent for the policy change. The company expects sales to remain strong on continued market demand, combined with global oil prices that have just climbed back to around 100 dollars per barrel, a factor pushing more consumers to consider switching to electric vehicles. At the same time, the tariff increase, which has not yet taken immediate effect, may trigger a rush of buying beyond normal levels. The company therefore plans to manage its inventory several months in advance to ensure sufficient supply for demand throughout the year, and expects its automotive business performance in the second half to grow substantially better than in the first half. Currently, the automotive business accounts for about 35 percent of AGE's total revenue, and the company expects the share from the electric vehicle business to expand to about 40 percent of total revenue by the end of this year. Its other three core businesses, coal, Smart Logistics, and Sustainable Energy, also remain on a good trajectory, in line with the business plan the company has announced: in 2026, AGE still aims to drive growth in its core businesses, expand new businesses, improve cost management efficiency, and maintain its competitiveness. It also views Low Emission Mobility as one of the businesses with growth potential that will support the group's revenue growth over the long term.

Asia Green Energy Public Company Limited (AGE) has announced its 2026 total revenue target of 17.5 billion baht, aiming for coal sales of 4 million tons. The company plans to expand its customer base both domestically and internationally, particularly in India, Vietnam, the Philippines, and Cambodia, due to the increasing demand for coal in Southeast Asia. Meanwhile, the company is accelerating its portfolio diversification into the Low Emission Mobility business, targeting revenue of 4.2 billion baht and sales of 4,000 EV and hybrid vehicles, leveraging its network of 10 showrooms as a base for market expansion. For the second quarter of 2026, the company reported revenue of 4.9354 billion baht, up 22.8%, and net profit of 134.4 million baht, up 26.9%. In the first six months, revenue was 8.17 billion baht, up 7.4%, and net profit was 236.8 million baht, up 59.2%.

Asia Green Energy Public Company Limited, or AGE, reported second quarter 2026 results with total revenue of 4.935 billion baht, up 53 percent from the previous quarter and up 23 percent from a year earlier. Profit attributable to the parent company was 134 million baht, up 31 percent from the previous quarter and up 27 percent from a year earlier. For the first six months of 2026, total revenue was 8.17 billion baht, up 7 percent from a year earlier, and profit attributable to the parent company was 237 million baht, up 59 percent from a year earlier. The coal business posted revenue of 3.232 billion baht with sales volume of 1 million tonnes in the quarter, and the full year target is 4 million tonnes. The Low Emission Mobility business recorded revenue of 1.329 billion baht, with AGE Auto Gallery targeting 2026 revenue of 4.2 billion baht and sales of 4,000 electric and hybrid vehicles. The company targets total 2026 revenue of 17.5 billion baht and aims for a 50:50 revenue mix from Green businesses by 2030.