CKP Reduces the Loss from Coronavirus Impact with a Better Performance than 1Q

CK Power Public Company Limited (CKP) has reported its consolidated financial statement of 3Q20, ending June 30, 2020, through the Stock Exchange of Thailand as follows;

CKP reported a net loss of 94 million baht in 2Q20, improving from a net loss of 339.53 million baht in 1Q20. The net loss was mainly due to a decrease in revenue from Sales of Electricity and Steam from the same periods last year.  

 

Overall, CKP saw no major impact of Covid-19 situation on electricity sales volume and revenue from sales of electricity since the major electricity off-taker of the company is EGAT, while other customers are industrial operators, who were also not significantly affected by the situation.

 

Project Management Income in 2Q20 and 1H20 increased from the same periods last year, consistent with the increase in management fee following the increase in business activities. Other Income in 2Q20 and 1H20 also improved, which mainly due to interest income from 3,000 million baht long-term loan to XPCL in accordance with the conditions specified in the Sponsors Support Agreement.