Thailand · Delayed Price · Currency is THB The Erawan Group PCL Earnings Call Transcripts
Fiscal Year 2026
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Q2 revenue grew 4% year-over-year, with normalized EBITDA up 1% and NPAT up 31%. Despite temporary travel disruptions and competitive pressures, occupancy and RevPAR improved across most segments. Guidance was revised to 6% annual growth, with strong Q4 expected.
Fiscal Year 2025
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Q4 2025 delivered resilient results with 1% revenue and net profit growth, driven by strong diversification and robust performance in the Philippines and Japan. Outlook for 2026 is optimistic, targeting 9% revenue growth and continued expansion, especially in the budget segment.
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Q3 results reflected a challenging tourism environment, with revenue and profit declines year-on-year, especially in luxury and economy segments, but the budget segment showed strong growth. Expansion continued with new hotel openings, and cost of funds improved.
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Q2 2025 was marked by a 12% drop in Thai tourist arrivals, impacting revenue and profit, but the budget segment showed strong growth. Strategic expansion and cost control helped offset declines in luxury and economy segments. Outlook for H2 is cautiously optimistic.
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Q1 2025 saw 7% revenue growth and 21% net profit increase, driven by strong midscale, economy, and budget segments. Despite a decline in Chinese arrivals and a short-term earthquake impact, diversification and cost control supported robust margins and positive outlook for the year.
Fiscal Year 2024
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Record revenue, EBITDA, and net profit were achieved in Q4 and full year, driven by strong tourism recovery and effective rate management. 2025 guidance targets 10% revenue growth, with continued expansion and renovations planned.
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Q3 2024 delivered 6% revenue and 2% EBITDA growth year-on-year, led by strong budget and economy hotel performance, despite luxury segment challenges. Q4 is expected to be robust, with new hotel openings and high event-driven demand.
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Q2 delivered record results with 12% revenue and 13% EBITDA growth, driven by robust tourism recovery and effective rate strategy. HOP INN expansion continues to add stability, while guidance for 2024 remains strong despite a minor impact from the Grand Hyatt incident.