Revenue from “Hanuman Projects” Buoy EA’s 2019 Net Profit to Increase 18% to ฿6bn!

Energy Absolute Public Company Limited (EA) has reported its yearly consolidated financial statement of 2019 through the Stock Exchange of Thailand as follows;

In 2019, EA earned a net profit of Baht 6,081.62 million, increased Baht 934.08 million (or increased 18.15%) when compared to the same period of last year which incurred a total net profit of Baht 5,147.54 million.

EA earned total revenue of Baht 14,954.54 million, increased Baht 2,464.32 million (or increased 19.73%) when compared to the same period of last year which incurred a total revenue of Baht 12,490.22 million. The increase in revenue was due to higher gain of increased Baht 3,293.45 million (or increased 42.88%) in generating and distributing electricity.

The increase of revenue in generating and distributing electricity was due to the wind power plant projects of subsidiaries (260-MW Hanuman wind power projects in Chaiyaphum Province) were commenced operation, i.e. on 25th January 2019 (90-MW), 22nd March 2019 (48-MW), 30th March 2019 (42-MW) and 13th April 2019 (80-MW), respectively resulting to revenue recognition gradually adding up in 1st quarter for this year and fully resulting to revenue recognition in 2nd quarter.