บทวิเคราะห์ (Research)

BBGI is now at an inflection point to see significant improvement in its earnings growth and visibility, geared by both external forces and internal strategic drivers. First, starting in Dec-24, BBGI will earn additional THB0.4b annual net profits (NP) from the 30% stake in BBGI Biodiesel with capacity of 1m litres per day (mlpd). Second, the decline in the prices of molasses and cassava, two raw materials to produce ethanol, will turn around BBGI's 0.8mlpd ethanol unit into THB39m net profit in 2025E. Finally, THB0.5b net profit contribution from BBGI's 20%-owned Sustainable Aviation Fuel (SAF) plant with 1mlpd in 2Q25.