PANEL's new factory and data center push drive record revenue outlook
New factory doubles capacity, cuts costs PANEL opened its new factory, boosting production capacity by 2–4 times and lowering costs. This lets the company take on more and bigger jobs, supporting management's forecast of over 40% revenue growth in 2026 to a record 220 million baht.
The factory is the operational backbone enabling the growth story and is a key new event this period.
Data center and medical expansion opens new markets PANEL is using its cleanroom expertise to enter data centers and hospital/operating room products, where competition is limited and margins are better. It is bidding for large projects and expects to sign hospital contracts, aiming for 300 million baht revenue in 2027 and 400 million in 2028.
This is the main new growth driver that could lift future revenue and margins, directly answering why the stock is moving.
New contract wins add to backlog PANEL won a contract for soundproof sliding walls at IMPACT's IEC Hall and holds over 20 million baht of partition wall work at Impact Challenger Hall, about 90% to be booked in 2026. These orders support the revenue recovery from the third quarter onward.
Concrete contract wins show real demand and underpin the near-term revenue recovery.
Weak Q2 profit shows past struggles PANEL's Q2 2025 net profit fell 88% to 0.51 million baht as construction revenue plunged 99%. This shows how weak the core business was before the new factory and niche strategy, and is a reminder that the recovery is still early and not yet proven.
Provides the necessary counterweight: the company is recovering from a very weak base, so execution risk remains.