2023-05-10 08:56:18
Mr. Niwat Adirek, Chief Executive Officer and President of Plc. BCPG (BCPG) revealed that the performance of the group in Q1/23 compared to Q4/22 had total revenue of 1,057 million baht, a decrease of 16.5%, with a net profit of 512 million baht, an increase of 72.90. % The main factor is profit from foreign exchange. and the recognition of reversal of losses. from the impairment of assets amounting to 267 million baht from the Chiba 2 Project, Japan. Last year, there was an assessment that the project had a risk of not being able to obtain a construction permit on time, but now the project has begun construction and is expected to be completed as planned.
While net profit from normal operations was 160 million baht, a decrease of 57.3%. Factors from the recognition of the decrease in the performance of hydropower plants in Lao PDR due to the cessation of electricity production in order to sell electricity. Electricity Authority of the Socialist Republic of Vietnam (Vietnam Electricity – EVN)
However, the recognition of the increasing performance of solar power plants in Thailand Wind power plants in Thailand and solar power plants in Japan In addition, share of profits from investments increased from wind power plants in the Philippines and natural gas power plants in the United States. To help mitigate some of the impacts from the suspension of electricity sales of hydroelectric power plants in Lao PDR.
For operating results in the 1Q23, compared to the same period last year, total revenue decreased by 8.7%, net profit decreased by 62.5% and net profit from normal operations decreased by 69.1% due to last year’s Profit from sale of investment in geothermal power plant In addition, in this quarter, electricity sales of hydroelectric power plants in Lao PDR were stopped to connect electricity sales to Vietnam where transmission lines and other equipment had to be sold. has been successfully installed Ready to pay electricity across the border from Lao PDR to Vietnam as soon as it is approved by the Vietnamese government.
While the natural gas power plant project in the United States (CCGT), in which BCPG has invested since the beginning of 2023, began to recognize profit sharing in March of 36 million baht and in the second quarter of 2023 will begin to recognize profit sharing. full quarter while the solar power generation project in Taiwan good progress It is expected to confirm the transmission line connection for the 58 MW project this month. and start construction of the project in the second half of the year
By InfoQuest News Agency (10 May ’23)
Tags: BCPG, Niwat Adirek, BCPG, performance, Thai stocks
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