Thantawan Industry (THIP) Weathers Middle East Crisis, Posts Strong Q2 Results Revenue hits 1.186 billion baht as profit rises 26%; board approves interim dividend of 0.55 baht per share

Thantawan Industry Public Company Limited (THIP), a manufacturer and distributor of plastic packaging and a full range of plastic products, has reported its second-quarter 2026 operating results. The group posted sales revenue of 1,186.2 million baht and net profit of 76.7 million baht, up 26% year-on-year. For the first half of the year, the company recorded total revenue of 2,218.8 million baht and net profit of 104.6 million baht. The standout improvement in second-quarter performance marks a turnaround from the pressures of the Middle East crisis, as the company continues to cut costs and strengthen its readiness for future growth.

Mr. Surasak Luangaramsri, Chief Executive Officer of Thantawan Industry Public Company Limited, said that amid the conflict in the Middle East — which drove up oil prices, plastic resin prices, production costs and logistics costs — the company had pushed ahead with strict measures to monitor and control raw material and operating expenses. This resulted in a significant reduction in production and operating costs, allowing performance to outpace expectations given the circumstances. At the same time, the company continued to boost operational efficiency and prepare for the next phase of business growth. He added that the company has passed through its most challenging period and has weathered the situation well, reflecting the strength of its business fundamentals and the effectiveness of its management. Signs of recovery and positive growth momentum are now clearly visible, and the company remains confident in its long-term growth potential, seeing continued opportunities for expansion ahead.

He also noted that the performance of the company's Vietnam subsidiary has begun to improve, turning a profit in the second quarter on higher production and sales volumes, with the weaker baht also providing a boost, since the subsidiary similarly relies heavily on exports.

As a result, in Q2/2026 the group posted sales revenue of 1,186.2 million baht and net profit of 76.7 million baht, an increase of 16.0 million baht, or 26.4%, compared with the same period last year. Compared with the first quarter of this year, performance also improved markedly, with sales revenue up 153.6 million baht and net profit up 48.9 million baht, or 175.8%.

First-Half 2026 Overview

For the first six months of 2026, the group’s revenue from sales was 2,218.8 million baht and net profit of 104.6 million baht. The company said first-half performance reflected customer ordering patterns that adjusted to market conditions, with some customers delaying orders in the second quarter following the outbreak of conflict in the Middle East. Of first-half 2026 revenue, 1,874.1 million baht, or 84.5%, came from overseas sales, while 344.7 million baht, or 15.5%, came from domestic sales.

At its meeting on August 6, 2026, the company's board of directors approved an interim dividend for operating results from January through June 2026, at a rate of 0.55 baht per share, totaling 49.5 million baht. The dividend will be paid to shareholders on September 2, 2026, underscoring the company's consistent policy of shareholder returns.