BCPG announces Q1/2020 performance with a 16.7% profit increase
BCPG and its subsidiaries announced their operating results in Q1/2020 with a net profit of 574 million Baht, a 16.7% increase (approximately 82 million Baht) from Q1/2019. At the same time, there was an increase in total revenue of 9.7% from Q1/2019. The main contributor was gain on foreign exchange of 325 million Baht.
According to Bundit Sapainchai, BCPG President, the Company’s robust performance in Q1/2020 was a result from full-year revenue recognition of newly developed and acquired power plant projects;
- Wind power plant “LomLigor” (started COD in April 2019)
- Hydro power plant “Nam San 3A” (acquired in September 2019)
- Private floating solar “Bang Pa-in” (started COD in November 2019)
- Hydro power plant “Nam San 3B” (acquired in February 2020)
Such contributors brought about a total revenue of 886 million Baht in Q1/2020, a 9.7% increase from Q1/2019, and a total EBITDA of 825 million Baht, a 12.8% increase from last year.
Gain on the foreign exchange (FX) mainly boosted the Company’s performance with a profit of 325 million Baht compared with the FX gain of 38 million Baht booked in the previous year. As a result, BCPG could achieve a total net profit of 574 million Baht, a 16.7% increase (approximately 82 million Baht) from the previous year.
At the end of March 2020, BCPG’s total assets were 42,491 million Baht, a 14.4% increase (approximately 5,354 million Baht) from 2019. The increase was due to the investment in hydroelectric power plant – Nam San 3B – in Laos in February 2020.
“We have achieved a good start in 2020 and will keep forging ahead in the next quarter with an expansion in digital energy business through partnerships from several sectors in the development of innovative products and services for more sustainable use of energy.”
“We are also committed to diversifying our renewable energy technologies through business expansion across Asia-Pacific for the continuous growth and stability of the Company’s income,” said Mr. Bundit