SUPER Earns a NP of ฿860Mn, Up 20%, from Higher Sales Revenue-Extraordinary Gain

Super Energy Corporation Public Company Limited (SUPER) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

SUPER had a net profit for Quarter 1 Ending 31 March 2021 of 860.25 million baht, an increase of 141.69 million baht or 19.72% compared to the same period of the previous year. The company’s total revenue was Baht 2,230.64 million which increased by Baht 546.90 million or 32.48% compared to the same period of the previous year.

 

Revenue from solar power projects in Thailand amounted to 1,298.80 million baht, an increase of 15.71 million baht YoY, mainly due to the increase in light intensity in 1Q21  compared to the previous year, however, the impact of the adoption of TAS 15: Revenue from Customer Contracts, as a result, the company has to recognize revenue in 1Q, a decrease of 29.31 million baht, which the company will return to recognize such revenue in quarter 4Q21.

 

Revenue from solar power projects in Vietnam amounted to 703.49 million baht, an increase of 485.04 million baht YoY, mainly due to the company recognized revenue from the sale of the full amount of electricity of the new project 3 projects with a total capacity of 550 megawatts that were COD in the last week of 2020.

 

Revenue from the waste thermal power plant has increased of 75.31 million baht, mainly due to the revenue was recognized for the community waste thermal power plant project of Super Earth Energy 6 Company Limited (SEE6),  which COD to the Electricity Authority Provincial, amount of 9.0 MW on April 30, 2020.

 

The company had another income of 99.87 million baht, an increase of 86.45 million baht or 644.55% compared to the same period of the previous year. It was mainly due to the subsidiary receiving compensation from the flood incident in October 2020 in the amount of 80 million baht.