FPI's Saudi hub and strong profit drive growth
Saudi factory nears completion, $30M Ceer deal secured FPI is building a factory in Saudi Arabia, set to open around November-December 2026. It already has a $30 million (about 1 billion baht) parts order from Saudi carmaker Ceer, with revenue spread over 5-6 years. Making parts locally cuts shipping costs by over 30% and reduces reliance on global shipping routes.
This is the core new growth driver: a new production base and a large secured order that should lift future revenue.
Q2 profit jumps 70%, interim dividend paid FPI's second-quarter net profit rose 70% to 108.7 million baht on revenue of 759.7 million baht, helped by OEM sales in Thailand and exports to South America and Africa. It paid an interim dividend of 0.04 baht per share. First-half profit rose 22.9% to 173.2 million baht.
Strong earnings and a cash payout show the business is performing well, supporting the share price.
H2 outlook stronger, Saudi hub to serve MENA and Europe FPI expects second-half 2026 results to beat the first half, helped by more mould investment and overseas expansion. Its Saudi plant will become a production and distribution hub for the Middle East and North Africa, and a stepping stone into Europe. It is adding European carmakers like Alfa Romeo, Fiat and Peugeot to its customer base.
Management guidance points to accelerating growth and a wider customer base, which supports future earnings.
FPI joins launch of Ceer's first Saudi EVs FPI took part in the launch of EXOBOT, the first two electric vehicle models from Saudi carmaker Ceer, where FPI is a strategic partner making several plastic component lines. Ceer plans seven models in five years, giving FPI a growing stream of parts orders as those cars roll out.
This confirms FPI's role in Ceer's EV programme, a new demand source that can grow over time.