GUNKUL Sees an Outstanding Performance in 4Q, Expecting a Spike in 2021 Revenue of ฿9Bn

“GUNKUL” revealed that in 4Q20, expected the revenue at 700-800 million baht due to a strong winter. In addition, there is a record income from COD solar farm Vietnam-Malay, coming in another 180 MW in Dec, while next year, the revenue is up 9,000 million baht, supporting the profit growth continuously, while this year, revenue is expected to rise 7,800 million baht.

 

Mr. Somboon Aueatchasai, Managing Director of Gunkul Engineering Public Company Limited (GUNKUL), stated that GUNKUL will report a total revenue of 700-800 million baht in 4Q20, a better outlook compared to a quarter earlier. 

 

For the 2020 overall performance, GUNKUL has the confidence that the Company will book a  total revenue of 7,700-7,800 million baht with an outstanding net profit of 2,147.33 million baht, mainly resulted from the expansion in solar farm investment, adding 180MW to the portfolio, and the disposal of the 40MW solar farm in Japan, which offset gains from wind power.

 

As of the end of September, GUNKUL’s net profit was1,719.58 million baht, while total revenue for the period was 7,009.40 million baht.

 

GUNKUL targeted a total income in 2021 of 9,000 million baht driven by 1) a revenue from an engineering, procurement and construction (EPC) work to install underground fiber optic cable in 70 provinces. GUNKUL’s backlog is over 7,500 million baht that are expected to be recognized from 2021.

 

2) A revenue from sale of electricity of approx. 4,000 million baht, generated from power plant projects in Japan, Vietnam and Malaysia combined total production capacity of 330MW, as well as other projects in Thailand, and 3) revenues from others such as services, constructions and finance lease of 2,500 million baht.

 

GUNKUL plans to continue expanding the investment in Vietnam’s wind farm, expecting to add at least 100MW to the portfolio. GUNKUL will also further invest in Taiwan and Indonesia.