B.Grimm Group, Thailand’s oldest trading conglomerate, has set a target to earn more than 150 billion baht in 2028 through its key businesses that aim to better protect the environment and develop the healthcare system.
The company operates various businesses in the energy, pharmacy, healthcare, digital technology, real estate and lifestyle-related fields.
B.Grimm in 2008 will celebrate its 150th anniversary, said Nopadej Karnasuta, senior executive vice-president of B.Grimm Power Plc (BGRIM), the company's power generation arm.
B.Grimm traces its history in Thailand back to 1878 when by German pharmacist Bernhard Grimm opened a dispensary in Bangkok during the reign of King Rama V.
Today the group's energy business is the most important revenue contributor, earning more than half of the group’s total earnings.
Mr Nopadej said BGRIM aims to maintain profitability while promoting greener energy that is kinder to the environment.
The company has a capital expenditure budget of 410 billion baht for its energy business to be allocated between 2024 and 2030.
It aims to increase power generation capacity to 10 gigawatts, from 3.97GW last year, by 2030. Renewable power must make up more than 50% of total capacity, an increase from 25% in 2022.
More than 1GW of renewable power will come from its investment in wind farms in South Korea. The company also plans to invest in the renewable energy business in the US, which will be finalised this year, said Mr Nopadej.
BGRIM’s revenue was 63.2 billion baht in 2022, a 35% increase from 46.6 billion baht in 2021.
In the pharmaceutical sector, B.Grimm Pharma, a subsidiary of B.Grimm Group, will further develop its businesses along the value chain, ranging from generic medicine manufacturing to distribution and sales.
The goal in this business is people, said Kittisak Dumrongtananurak, executive vice-president of B.Grimm Pharma.
The company aims to have more than 4.5 million people gain access to drugs within 2030, up from 3 million people in 2022, he said.
In the industrial sector, businesses based on clean energy will be emphasised, including the installation of rooftop solar panels, battery charging and energy solutions, said Kitti Pattanaleenakul, president of B.Grimm Industrial, another subsidiary of B.Grimm Group.