SUPER Gains 4% after Reporting a 377% Increase in 2Q Earnings

The share price of Super Energy Corporation Public Company Limited (SUPER) rose ฿0.04/share or 4.35% to ฿0.96/share as of 11:11 local time in Thailand, with a trading value of 429 million baht. 

Mr. Jormsup Lochaya, Vice Chairman of SUPER’s Board of Directors, stated that the company generated total sales of 2,190.4 million baht in 2Q21, up 37.5% year on year, while earning a net profit of 818.7 million baht, up 299.3% from 205.0 million baht in 2Q20.

The increase in operating profit was primarily due to revenue recognition from existing and new overseas projects, as well as a significant gain from three solar farms in Vietnam with a combined capacity of 550MW that were COD in the last week of 2020 and a waste-to-power plant with an installed capacity of 1,563.32MW.

The company expects to perform better in the second half of this year than it achieved in the first six months, as SUPER will collect additional revenue from the Vietnam wind turbine, which is planned to COD in 3Q21 with a total installed capacity of 421MW.