Higher Expense and FX Causes BANPU to Report a 15% Decline of Profit in 2018
BANPU has reported a 15% decline of profit in 2018 due to higher expenses and loss in foreign exchange.
Banpu Public Company Limited (BANPU) has reported its consolidated financial statement yearly 2018 through the Stock Exchange of Thailand as follows:
BANPU announced a decline of profit in 2018 from THB 7,900 billion to THB 6,693 billion, decreased 15.27% due to higher expenses and loss on foreign exchange.
In 2018, sales reported at ฿112,771 million, an increase of 21% compared to last year mainly from an increase in coal sales volume and coal selling price. The revenue from coal sales accounted for 87% of BANPU’s total revenue while the volume in 2018 was 38.03 million tonnes, increased by 1.39 million tonnes or 4%.
However, the cost of sales increased by 28% due to a higher cost in the coal business, gas business, and others. Meanwhile, selling expenses and administrative expenses also increased by 14% and 9%, respectively. BANPU also reported a loss on a foreign exchange rate of $19 million, due to baht appreciation.
