Private company

Aesthetic Connect

Public company from Thailand.1

Last updated Oct 16, 2026.

Overview

15.2BRevenue, fiscal 20252
3.5BNet income, fiscal 20252
2016Founded1
  • Tickeron Stock Exchange of Thailand1

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in CAD, the currency the company reports in.

Key numbers, fiscal 2025

52.7%Operating margin2
23.1%Net margin2
16.7%Revenue growth, 20252
12.9%Return on equity2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Capacity Arrangements And Transportation brought in 85% of the revenue Aesthetic Connect broke down this way in fiscal 2025.

  1. Capacity Arrangements And Transportation11.9B CAD285%up 5% from 2024
  2. Natural Gas Storage And Other1.8B CAD213%up 29% from 2024
  3. Power Generation236.0M CAD22%down 11% from 2024
Products and services by year
Products and services202320242025
Capacity Arrangements And Transportation10.7B CAD11.4B CAD11.9B CAD
Natural Gas Storage And Other1.4B CAD1.4B CAD1.8B CAD
Power Generation427.0M CAD266.0M CAD236.0M CAD

Business segments

U.S. Natural Gas Pipelines brought in 49% of the revenue Aesthetic Connect broke down this way in fiscal 2025.

  1. U.S. Natural Gas Pipelines6.8B CAD249%up 9% from 2024
  2. Canadian Natural Gas Pipelines5.8B CAD241%up 3% from 2024
  3. Power and Energy Solutions676.0M CAD25%up 4% from 2024
  4. Mexico Natural Gas Pipelines663.0M CAD25%up 18% from 2024
  5. Corporate14.0M CAD20%up 75% from 2024
Business segments by year
Business segments202320242025
U.S. Natural Gas Pipelines6.0B CAD6.3B CAD6.8B CAD
Canadian Natural Gas Pipelines5.2B CAD5.6B CAD5.8B CAD
Power and Energy Solutions790.0M CAD649.0M CAD676.0M CAD
Mexico Natural Gas Pipelines567.0M CAD562.0M CAD663.0M CAD
Corporate8.0M CAD14.0M CAD

Regions

United States brought in 47% of the revenue Aesthetic Connect broke down this way in fiscal 2025.

  1. United States7.2B CAD247%up 13% from 2024
  2. Canada Domestic5.6B CAD237%up 1% from 2024
  3. Mexico and International1.4B CAD210%up 67% from 2024
  4. Canada Export968.0M CAD26%up 2% from 2024
Regions by year
Regions202320242025
United States6.3B CAD6.4B CAD7.2B CAD
Canada Domestic5.3B CAD5.6B CAD5.6B CAD
Mexico and International846.0M CAD870.0M CAD1.4B CAD
Canada Export821.0M CAD953.0M CAD968.0M CAD

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue1¢208.0M CAD
  • Other costs68¢10.4B CAD
  • Income tax7¢1.1B CAD
  • Profit23¢3.5B CAD

Out of 15.2B CAD in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid48¢3.5B CAD
  • Kept or used elsewhere52¢3.8B CAD

Out of 7.3B CAD of cash from operations.2

Financial statements

Revenue34567215.2B CAD in 2025+19% since 2018
05.0B CAD10.0B CAD15.0B CAD20.0B CAD2018: 12.8B CAD12.8B CAD20182019: 12.7B CAD12.7B CAD2019−1%2020: 12.6B CAD12.6B CAD2020−0%2021: 13.0B CAD13.0B CAD2021+2%2022: 12.1B CAD12.1B CAD2022−6%2023: 12.5B CAD12.5B CAD2023+3%2024: 13.1B CAD13.1B CAD2024+4%2025: 15.2B CAD15.2B CAD2025+17%
Operating income3456728.0B CAD in 2025+39% since 2018
02.5B CAD5.0B CAD7.5B CAD10.0B CAD2018: 5.8B CAD5.8B CAD20182019: 6.6B CAD6.6B CAD2019+14%2020: 6.8B CAD6.8B CAD2020+3%2021: 4.1B CAD4.1B CAD2021−40%2022: 2.5B CAD2.5B CAD2022−40%2023: 5.1B CAD5.1B CAD2023+108%2024: 8.0B CAD8.0B CAD2024+56%2025: 8.0B CAD8.0B CAD2025+1%
Net income3456723.5B CAD in 2025−5% since 2018
02.0B CAD4.0B CAD6.0B CAD2018: 3.7B CAD3.7B CAD20182019: 4.1B CAD4.1B CAD2019+12%2020: 4.6B CAD4.6B CAD2020+11%2021: 2.0B CAD2.0B CAD2021−58%2022: 748.0M CAD748.0M CAD2022−62%2023: 2.9B CAD2.9B CAD2023+291%2024: 4.7B CAD4.7B CAD2024+61%2025: 3.5B CAD3.5B CAD2025−25%

Every line of the income statement in the latest annual report, as filed.2

Period ending2025-12-312024-12-312023-12-31
Revenues15.2B CAD13.8B CAD13.3B CAD
Income (Loss) from Equity Investments (Note 10)1.3B CAD1.6B CAD1.3B CAD
Impairment of equity investment (Note 10)0 CAD0 CAD-2.1B CAD
Plant operating costs and other4.6B CAD4.4B CAD4.1B CAD
Commodity purchases resold208.0M CAD217.0M CAD80.0M CAD
Property taxes881.0M CAD820.0M CAD781.0M CAD
Depreciation and amortization2.8B CAD2.5B CAD2.4B CAD
Total operating and other expenses8.5B CAD8.0B CAD7.4B CAD
Net Gain (Loss) on Sale of Assets (Note 29)0 CAD620.0M CAD0 CAD
Interest expense (Note 19)3.4B CAD3.0B CAD3.0B CAD
Allowance for funds used during construction-453.0M CAD-784.0M CAD-575.0M CAD
Foreign exchange (gains) losses, net (Note 21)-157.0M CAD147.0M CAD-320.0M CAD
Interest income and other-205.0M CAD-324.0M CAD-272.0M CAD
Total financial charges2.6B CAD2.1B CAD1.8B CAD
Income (Loss) from Continuing Operations before Income Taxes5.4B CAD5.9B CAD3.3B CAD
Current367.0M CAD495.0M CAD864.0M CAD
Deferred771.0M CAD427.0M CAD-22.0M CAD
Income Tax Expense1.1B CAD922.0M CAD842.0M CAD
Net Income (Loss) from Continuing Operations4.3B CAD5.0B CAD2.5B CAD
Net Income (Loss) from Discontinued Operations, Net of Tax (Note 4)-212.0M CAD395.0M CAD612.0M CAD
Net Income (Loss)4.1B CAD5.4B CAD3.1B CAD
Net income (loss) attributable to non-controlling interests (Note 22)575.0M CAD681.0M CAD146.0M CAD
Net Income (Loss) Attributable to Controlling Interests3.5B CAD4.7B CAD2.9B CAD
Preferred share dividends119.0M CAD104.0M CAD93.0M CAD
Net income (loss) attributable to controlling interests from continuing operations3.7B CAD4.3B CAD2.3B CAD
Net income (loss) attributable to common shares from continuing operations3.6B CAD4.2B CAD2.2B CAD
Net income (loss) attributable to common shares from continuing operations3.4B CAD4.6B CAD2.8B CAD
Continuing operations, Basic (in dollars per share)3 CAD4 CAD2 CAD
Continuing operations, Diluted (in dollars per share)3 CAD4 CAD2 CAD
Discontinued operations, Basic (in dollars per share)-0 CAD0 CAD1 CAD
Discontinued operations, Diluted (in dollars per share)-0 CAD0 CAD1 CAD
Basic (in dollars per share)3.27 CAD4.43 CAD2.75 CAD
Diluted (in dollars per share)3.27 CAD4.43 CAD2.75 CAD
Dividends Declared per Common Share (in dollars per share)3.40 CAD3.70 CAD3.72 CAD
Basic (in shares)1.0B shares1.0B shares1.0B shares
Diluted (in shares)1.0B shares1.0B shares1.0B shares

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Timeline

  1. Oct 24, 2023Went public Listed on Stock Exchange of Thailand1
  2. 2016Founded Founded1

Sources

The numbers on this page point here. Each one links to the record it came from.

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