WHAUP’s Revenue and Share Profit from Investment Hikes 2Q Profit to ฿857m

Wha Utilities And Power Public Company Limited (WHAUP) finished 2Q2019 with a net profit of THB 857.5 million, a 189.8% increase from 2Q18  with normalized net profit of THB 695.3 million, a 46.9% increase from 2Q2018. Net profit of 1H2019  was THB 1,281.8 million, a 26.6% increased from 1H2018 with normalized net profit of THB 1,024.9 million, a 28.0% increased from 1H2018.

 

Total Revenue was THB 475.1 million, a 12.2% increase from THB 423.5 million in 2Q2018. Utilities Business Revenue was THB 473.6 million, a 12.1% increase from THB 422.7 million in 2Q2018 mainly due to increase of other utilties revenue 2,236.6% YoY and operating revenue 0.2% YoY. The increase of operating revenue was attributable to growth of industrial water’s sales volume mainly from newly Commercial Operation Date (“COD”) of 2 SPPs (GNLL2 and other SPP), existing customers and new IEs customers. For Power Business, the Company recognized  revenue (Solar Rooftop Projects) at THB 1.5 million.

In 1H2019, total revenue was THB 934.5 miilion, a 10.5% increase from THB 845.4 million in 1H2018 due to increase of other utilties revenue 2,103.7% YoY and operating revenue 1.3% YoY.

Gross profit in 2Q2019 was THB 191.7 million, a 33.1% increase from THB 144.0 million in 2Q2018, while gross profit from operation was THB 139.3 million, a 1.7% decrease from THB 141.8 million in 2Q2018 due to the higher depreciation expense from the expansion pipeline system.

In 1H2019, gross profit from operation was THB 375.1 million, a 28.0% increase from THB 293.0 million in 1H2018.