Trinity expects TEGH's 2026 profit to reach 560 million baht on high rubber and palm prices

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Trinity Securities estimates that Thai Eastern Group Holdings, or TEGH, still has continued supporting factors in the second half of 2026, maintaining its net profit forecast for 2026 at 560 million baht, up 5% from the previous year. In the rubber business, which is the most prominent factor, Trinity expects rubber sales volume in the third quarter of 2026 at approximately 60,000-70,000 tonnes, flat from the second quarter of 2026 but growing strongly compared with the same period last year. Meanwhile, block rubber selling prices are expected to rise to approximately 75-80 baht per kilogram, from an average selling price of about 70 baht per kilogram in the second quarter of 2026, supported by demand for block rubber in the Indian market after the Indian government announced an exemption on rubber import taxes, lower rubber output due to El Nino conditions, and higher crude oil prices, which pushed synthetic rubber prices up. For the crude palm oil business, Trinity estimates that sales volume in the third quarter of 2026 may slow seasonally, but prices still have supporting factors from demand for palm oil to increase the biodiesel blending ratio, and it expects sales volume to recover in the fourth quarter of 2026. The company itself is pressing ahead with increasing the share of EUDR-standard rubber products after the direction of the European Union's regulatory enforcement became clearer, as well as improving the efficiency of its palm business by repairing machinery and installing additional boilers and sterilizers, which is expected to help increase crude palm oil production capacity by about 50% within this year. As for the phase 2 biogas production capacity expansion project, it is under review of technology and budget, with the completion date adjusted to the second quarter of 2027.

Impact on assets 3

Synthetic Biology (non-pharma)▲ · 1 stocks
Thai Eastern Group Holdings PCL
TEGH
▲ PositiveDemandrelevance

Trinity forecasts TEGH's 2026 net profit at 560 million baht, driven by strong block rubber demand from India's import-tax exemption and higher rubber/palm prices.

Financials▲ · 1 stocks
Others▲ · 1 stocks
⛏Natural Rubber (RSS)
RUBBER
▲ PositiveDemandrelevance

Block rubber prices are expected to rise to 75-80 baht/kg on Indian demand after India's rubber import-tax exemption and lower output from El Nino.

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