Higher Sales Revenue Supports SUPER’s Profit to Hike THB 400 million

SUPER Energy Corporation Public Company Limited (SUPER) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

In the first quarter of 2019, SUPER recorded the net profit in the amount of THB 395.54 million, decreased of 13.87 million baht or 4.07 when compared to the net profit in the amount of THB 412.31 million in the first quarter of 2018.

SUPER reported the  operating results in 1Q19,the Revenue from sales and Revenue from government granted – adder was THB 1,597.688 million which increasing by Baht 148.198 million or 10% from the same period of last year, which is mainly due to
(1) Commercial Operation for government agencies and agricultural cooperatives Phase 2, totaling 28 megawatts in December 2018.
(2) Revenue from the thermal power plant from industrial waste of Green Power Energy Co.Ltd, a subsidiary of the Company that already COD on June 14, 2018. As a result, in the first quarter of 2019, the Revenue from sales and Revenue from government granted – adder has increased.

However, SUPER stated the cause of the declining due to the increase in new loan drawdowns that have been added from financial institutions during the fourth quarter of 2018, as a result, financial costs have increased.