President Automobile Industries Public Company Limited

Somchai Lertkhajornkitti, Chief Executive Officer of President Automobile Industries Public Company Limited, or PACO, a leader in the production of automotive air-conditioning components, disclosed that the company has revised down its 2026 sales target to a level close to the previous year, when 2025 sales came in at approximately 978.99 million baht, from an earlier expectation of growth above the prior year. The revision stems from the conflict situation in the Middle East, which has stretched shipping times to overseas markets from the normal two to three weeks to roughly two months, delaying revenue recognition. Nevertheless, the weakening of the baht against the US dollar is a positive factor for export revenue and profit margins. The company aims to maintain its gross profit margin at approximately 15 to 20 percent and its net profit margin at approximately 12 to 13 percent. For the fourth quarter of 2026, the company expects operating results to hold steady near the level of the preceding period, even though aluminium raw material prices have risen, and it does not expect the recent flooding to significantly increase demand for automotive air-conditioning parts. As for the outlook for 2027, the company assesses that the domestic market has room for slight growth, while overseas markets could recover more strongly if the conflict is resolved and logistics return to normal. It is currently preparing its business plan and operating targets for 2027, which are expected to become clear during November to December 2026.

President Automobile Industries Public Company Limited, or PACO, reported a second-quarter net profit for 2026 of 21.43 million baht, down 33.16% from the same period last year when it earned 32.06 million baht. Sales revenue came in at 244.94 million baht, a decline of 16.66%, as overseas sales slowed due to conflict in the Middle East, while domestic sales rose on expanded orders from key customers. Foreign exchange gains stood at 2.00 million baht, an increase of 11.79 million baht, driven by the baht weakening against the US dollar. For the first six months, net profit was 63.37 million baht, down 12.32% from a year earlier. In addition, the board approved an interim dividend of 0.05 baht per share, with the ex-dividend date set for 20 August 2026 and payment on 2 September 2026.