WP's profit rises, solar subsidies grow, buyback done, credit rating assigned
Government solar subsidies boost rooftop demand State support for rooftop solar — a 200 billion baht budget, low-interest loans, and a 50,000 baht per household subsidy for up to 1.5 million homes — cuts upfront costs and should accelerate demand. WP targets at least 10 megawatts of new solar capacity in 2026, with solar already contributing about 10% of profit and a goal of 30% within three years.
This is the main new demand driver for WP's fastest-growing business.
First-half profit up 20%, Q2 up 27% WP reported first-half 2026 net profit of 84.73 million baht, up 20.32% from a year earlier, with Q2 profit up about 27%. The gain came from better customer mix, cost control, and less price competition in LPG, where WP holds about 20% of the market. Solar revenue also contributed 19.89 million baht.
Earnings growth is the fundamental reason the stock is moving.
Share buyback completed, lifting ROE and EPS WP finished buying back the full 15 million shares (2.94% of issued shares) for 57.08 million baht, using excess cash. Management says this raises return on equity and earnings per share, supporting the stock price. The buyback ran from July to September 2026.
The completed buyback is a concrete capital return that supports the share price.
TRIS assigns BBB stable credit rating TRIS Rating gave WP a BBB stable corporate credit rating, citing strong capital, stable cash flow, and low debt (net debt to EBITDA below 1.0 times). This prepares WP to issue bonds in the future and strengthens its financial image, which can lower borrowing costs and support expansion.
The new credit rating improves WP's financial standing and future funding options.