SCGJWD Logistics Public Company Limited (SJWD) announced impressive performance in the second quarter of 2025, producing a total revenue of 6,437.8 million baht, a 10.1-percent increase year-on-year, and a net profit of 282.5 million baht, a 61.1-percent increase. This is exclusive of the special profit from the same period of last year, which was attributed to the investment in SWIFT at a price below fair value. This represents a new, higher profit base, driven by effective cost control and financial cost reduction. In the process, the Company announced an interim dividend to investors of 0.10 baht per share for the second half of the year. At the same time, SJWD expressed confidence that the new Thai-US trade tariffs will not adversely impact the logistics industry as a whole. For the latter half of this year, the Company announced the plan to expand joint venture collaborations to provide temperature-controlled and general cargo logistics services from Thailand and ASEAN countries to China. Also, important is the aim to further control expenses and to continuously reduce financial costs, while preparing to dispose of assets to trust funds in the second half of the year to increase capital base potential.

Dr. Eakapong Tungsrisanguan, Chief Financial Officer of SCGJWD Logistics Public Company Limited (SJWD), the largest integrated logistics and supply chain service provider in the ASEAN, revealed that the Q2/2025 performance showed satisfactory growth, with a total revenue of 6,437.8 million baht, or a 10.1 percent increase year-on-year, and a net profit of 282.5 million baht. Although this may seem like a slowdown compared to the same period of last year, however, if discounting the 339.4-million-baht extraordinary profit gained during that same period of last year from the investment in Swift Haulage Berhad (SWIFT) at a price below fair value, the net profit would have increased by as much as 61.1 percent.

The Q2/2025 net profit represents a new, higher profit base, reflecting the Company’s more effective business operation due to improved efficiency in managing SG&A (selling, general and administrative) expenses and reducing financial costs following the merger, as well as the on-going business expansion activities. This has led securities agencies to maintain a positive outlook on the Company and raise the fair value of SJWD shares.

Going into detail, the revenue from most businesses grew significantly compared to the same period of last year, such as the general warehousing business, which produced 335.1 million baht in revenue, a 28.0 percent increase as a result of expanded rental space and brisk sales to customers. The multimodal transportation business saw 251.5 million baht in revenue; a 20.1 percent increase due to greater demand. The cross-border freight business made 174.7 million baht in revenue, a 48.6 percent increase, driven by adjustments made to transportation modes and routes in order to offer improved solutions to customers, along with the expansion of the customer base. The self-storage rental business saw 37.2 million baht in revenue, a 53.9 percent increase, as a result of the aggressive marketing effort. The international businesses produced 1,040.4 million baht in revenue, a 28.5 percent increase, driven by significant revenue growth from the business in Indonesia and the recognition of full-quarter revenue from SCG JWD Logistics (Vietnam) Company Limited. The automotive storage and management business is fully confident of achieving its full-year revenue target despite the slowdown in the country’s automotive business. This is attributable to increasing workloads from existing customers and the expansion of the automotive customer base.

When taking into consideration the first six months of 2025, SJWD generated total revenue of 12,877.8 million baht, a 6.2 percent increase year-on-year, despite the exclusion of revenue from the food services business in Taiwan, which had already been divested. Net profit was 648.0 million baht, a similar figure to that of the same period last year. However, if excluding the extraordinary profit from the same period of last year (investment in SWIFT), net profit would increase by 90.9 percent. Businesses that saw significant growth during the first six months included the general warehousing business, which generated 643.3 million baht in revenue, a 22.8 percent increase; the multimodal transportation business, which generated 489.7 million baht in revenue, a 24.0 percent increase; and the cross-border freight business, which generated 346.8 million baht in revenue, a 20.8 percent increase.

At the same time, the Company is well-equipped to cope with economic volatility, through the implementation of a cautious investment strategy, appropriate SG&A management, debt repayment, and the reduction of financial costs based on the Company’s strong operating cash flow. Furthermore, SJWD has gradually acquired nearly the full targeted amount of shares for the project, which will serve to increase earnings per share. The Board of Directors has recently approved an interim dividend payment of 0.10 baht per share, totaling 177.7 million baht to maximize shareholder returns, with an ex-dividend (XD) date set for August 28, 2025, and the payment date of September 12.

The Chief Financial Officer of SJWD further stated that the logistics industry in the second half of the year is unlikely to be significantly impacted by the US trade tariff increase, as import tariffs from Thailand are near or at similar levels with most ASEAN countries. Meanwhile, increased imports from the United States are envisioned, which will be beneficial to the business. Cross-border freight services will continue to flourish, with the recognition of any crisis as opportunities to offer alternative solutions to customers. It is with confidence that the Company’s expertise and experience, diverse service offerings, and diversified customer base across multiple industries will drive revenue growth to be in line with its targets.

For the latter half of the year, the Company continues to prudently consider opportunities to expand investments in existing businesses, pursue joint ventures, take on shares or acquire businesses, with the ultimate focus on the benefits of the Company and its shareholders. Recently, JWD Asia Company Limited a subsidiary of SJWD, Ruiyun (HK) International Supply Chain Limited (Ruiyun), and Golden Line Services Company Limited, have together established a joint venture named “Ruiyun International Supply Chain (Thailand) Company Limited”, with 40 percent, 49 percent, and 11 percent stakes, respectively, to provide temperature-controlled and general cargo transportation services from Thailand and ASEAN countries to China, including fruits and electronic components. SJWD is also fully focused on the cautious SG&A management and the continuous reduction of financial costs. The Company plans to gradually repay debt using its operating cash flow while also planning to sell assets to a trust fund in Q3/2025 to arrange its capital base.