BGRIM Shows a Jumping 25% of Net Profit in 2019 to ฿2.3bn, Offering ฿0.22 Dividend

B.Grimm Power Public Company Limited (BGRIM) has reported its yearly consolidated financial statement through the Stock Exchange of Thailand as follows;

BGRIM recorded a net profit in 2019 at Baht 2,331 million, increased 25.14% when compared to a net profit of Baht 1,862 million in 2018. The increase in net profit was mainly due to BGRIM’s high sales and services income in 2019.

BGRIM’s sales and service income increased 20.6% YoY in 2019 to Baht 44,132 million and 13.3% YoY in Q4/2019 to Baht 11,258 million primarily due to 1) the additions of 692 MW operating capacity over the past 12 months from the commercial operations of 3 projects

(Nam Che 1 in Laos and DT1&2 and Phu Yen TTP in Vietnam), 2) the acquisitions of 124 MW SPP 1 in March 2019, 3) full year operation of 3 SPP projects (ABPR 3 ABPR 4 and ABPR 5 which started commercial operation in 2018, and 4) the electricity tariff increase during 2019.

Financial costs also decreased 10.1% YoY in 2019 to Baht 2,631 million and 20.1% YoY in Q4/2019 to Baht 732 million as well.

In 2019 BGRIM received total 10 national and international awards in a number of categories including Best Renewable Projects, Green Bond Financing, Best CEO and Best IR Team together with 7 ESG recognitions and sustainability awards demonstrating a solid commitment and responsibility of ESG aspects for sustainability.

 

In addition, the Board of Directors of BGRIM has approved a resolution for a dividend payment to be paid on May 11, 2020, at a value of ฿0.22/share with an ex-dividend date on March 12, 2020.