AIE’s Net Profit Drops 16% in 1Q to ฿110Mn due to Lower Demand for Diesel amid Pandemic

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

AIE realized net profit of 110.64 million Baht in the 1st quarter of 2021, compared to net profit of 132.25 million Baht in the 1st quarter of 2020. The company’s net profit has decreased by 21.61 million Baht or 16.34% from the previous year. In this regard, the company had earnings after adjusting EBITDA in the first quarter of 2021 equal to 140.59 million baht, a decrease from the first quarter of 2021 by 20.71 million baht or decrease 12.84 %. The declining sales volume was due to the decrease in domestic demand for diesel. This is affected by a new outbreak of COVID-19 virus in early 2021.