BCPG’s Profit Rises 25% from Robust of Power Plants Domestically and Internationally

BCPG Public Company Limited (BCPG) has reported its consolidated financial statement yearly 2018 through the Stock Exchange of Thailand as follows:

BCPG announced their operating results in 2018 with a total net profit of THB 2,219 million, a 25% increase from the previous year. The main contributor was the profit from solar assets monetization to an Infrastructure Fund in Japan, along with a good performance of solar power plants in Thailand and Japan. BPCG’s net profit was approximately 67% with the Earnings per Share of ฿1.11/share, compared with the net profit of 53.4% and the ฿0.89/share in 2017.

In addition, BCPG announced dividend payment to the shareholders from the net profit in Q4/2018 at the rate of ฿0.16/share in cash to be paid on April 22, 2019. The ex-dividend date is March 5, 2019.

 

Mr. Bundit Sapianchai, BCPG President and CEO, said that in 2018, BCPG performed well with a total revenue of THB 3,320 million which was enhanced by two major factors; the assets monetization transaction of two solar power plants to an Infrastructure Fund in Japan and the commercial operations of solar power plants both in Thailand and Japan with a total production capacity of 13 MW (9 MW in Thailand and 4 MW in Japan).

There was a slight rise in the revenue of solar power plants in Thailand, THB 2,869 million or a 1% increase from the last year, while the operations of solar power plants in Japan brought about THB 451 million or a 6% decrease compared with the previous year. The decrease was due to the solar assets monetization transaction resulting in no record of revenue in Q4/2018. However, the commercial operation of Gotemba power plant, which started in Q2/2018, helped contribute to the total revenue of solar power plants in Japan.

There was a major increase in share profit of wind power plant in the Philippines (prior to amortization) from THB 1 million in 2017 to THB 73 million in 2018, resulted from a full profit recognition for the first year (compared with 7-month profit recognition in 2017).  Also, the project’s production capacity in 2018 was as high as 46 million units (based on shareholding proportion) or a 144% increase. The increase was a result of the improving capacity factor per day which went up from 30% in 2017 to 37% in 2018. In addition, a tropical depression and a typhoon occurring in the past year created good wind speed which also led to high capacity factor.

A full-year share profit recognition from geothermal power plants in Indonesia brought the profit of THB 761 million to BCPG, a 129% increase compared with 5-months profit recognition in 2017. The production output of the project in 2018 also went up to 1,250 million units or a 145% increase (based on shareholding proportion).

 

In 2018, the solar asset monetization transaction to an Infrastructure Fund in Japan, as well as robust performance of solar power plants, brought BCPG its record-breaking net profit of THB 2,219 million.

At the end of 4Q18, BCPG’s total assets were THB 31,558 million, which was stable when compared with those at the end of Q4 last year, while the total liabilities were THB 16,416 million, a 7.4% decrease due to a reduction of the interest-bearing debt (THB 15,567 million as of Q4/2018 or an 8.6% decrease from the last year). The long-term loan repayment after the THB 2,028 million solar assets monetization transaction in Japan in Q3/2018 mainly helped reduce the Company’s interest-bearing liabilities.

 

Looking ahead in 2019, BCPG is still planning for continuous growth.  Production from the wind power plant in Nakhon Sri Thammarat, with a total installed capacity of 10 MW, is planned for Q2/2019, while the “CMU Smart City-Clean Energy”, a 12 MW joint project between BCPG and Chiang Mai University, will start commercial operation towards the end of this year.

Committed to deliver high value while creating wealth for shareholders and sustainable future for all, BCPG strives for expansion through clean energy business both domestically and internationally, particularly in Asia-Pacific, as well as focusing more on retail business to produce and deliver clean energy directly to consumers.

Additionally, BCPG is transitioning into the retail market with “energy as a service” models bringing in innovation to provide consumers with options to produce clean energy by themselves at a lower cost. BCPG has set aside THB 8,600 million investment budget for business expansion and existing projects in 2019.