BCPG announces Q1/2021 performance with a 21% profit increase
BCPG and its subsidiaries announced their operating results in Q1/2021 with a recurring net profit of THB 489 million, a 21.1% increase from the same period last year. The Company’s total revenue for Q1/2021 reached THB 1,047 million, or a 18.1% increase from the previous year, while the EBITDA rose 15.0% to THB 948 million.
According to Bundit Sapianchai, BCPG President, the significant contributor was the full-quarter revenue recognition of new green power projects;
1). Hydropower plant "Nam San 3B" (45 MW) in Laos acquired in February 2020
2). Four solar power plants (20 MW) in Thailand acquired in August 2020
In addition, the solar power plants in Japan and hydropower plant "Nam San 3A" in Laos have made robust performance with higher power generation due to higher irradiation and higher rainfall, respectively, including lower administrative expense.
As of March 2021, the total assets of BCPG amounted to THB 51,512 million, a slight increase of 0.6% from the end of 2020, owing to an increase in investment in associate and subsidiaries, as well as goodwill and intangible assets based on USD as functional currency. The appreciate of foreign currency against THB also led to an increase in these items value.
“We have accomplished a sound start in Q1/2021. For the next quarter, we will enhance our position as a leader in digital energy business through the investments in potential startups. The investments will lead to the development of new smart energy solutions to meet increasing market demand on energy management.
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. Recently, BCPG has been assigned an A- company rating with a stable outlook by TRIS Rating. Such rating reflected stable revenue reliability from the Company’s power-generating assets and well-diversified power portfolio, as well as demonstrating the Company’s readiness to the impact of adder expiry in 2025 with new green power projects. The A- rating also paved the way for BCPG to various sources of loan, strengthening the Company’s investment plans in the future”, said Bundit.