ACE’s 2020 Earnings Jump 85% to ฿1.5Bn, Offering a Dividend of ฿0.018 with XD on Mar 11

Absolute Clean Energy Public Company Limited (ACE) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

ACE reported a net profit for the year 2020 of 1,507.6 million baht, increasing by 84.9% YoY from 815.3 million baht in 2019. The increase is caused by sales and service income of Biomass Power Plants from increase in electricity units sold from longer continuing in production and partially record of revenue from the new biomass power plants which ACE acquired in the third quarter. 

 

Gross profit for 2020 compared to 2019 increased by 10.2% YoY to 1,791.3 million baht, mainly from sale of electricity of Biomass Power Plant which increased from electricity unit sold comprising a partial record of revenue from the new biomass power plants which have been acquired in the third quarter.

 

Sales and service income increased by 0.7% YoY to 4,987.6 million baht, mainly derived from sales of Biomass Power Plant which increased by 284.4 million baht or 10.9% from increased sales of electricity. However, sales of natural gas power plants decreased by 253.3 million baht or 12.2% from planned shutdown and decrease in unit rate which is adjusted in line with the decline in average natural gas price.

 

In addition, the Board of Directors of ACE has approved the payment of dividend at the rate of 0.018 baht per share to be paid on May 13, 2021. The ex-dividend date is March 11, 2021.