ACE Posts an Increase in 2Q Profit of 19.38%, Boosting 1H20F to Hit ฿843Mn

Absolute Clean Energy Public Company Limited (ACE) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

ACE reported a 2Q20 net profit of 249.80 million baht increased by 19.38% from a year earlier. Sales and service income decrease 0.5% YoY from 1,249.0 million baht to 1,242.3 million baht. The decrease of 6.7 million baht mainly derived from sales of Natural Gas Power Plant which decrease by 23.3 million baht or 4.5% mainly from the decrease in unit rate which is adjusted in line with the decline in average Natural Gas price. 

On the other hands, sales of Biomass Power Plants increased by 18.4 million baht or 2.8% as a result from fewer days of planned-shutdown then the electricity unit sold is higher, compared to the same period of last year. 

Sales from Municipal Solid Waste Power Plant decreased because there was planned-shutdown in the second quarter of 2020, while no planned-shutdown in the second quarter of 2019, since the maintenance was performed in the first quarter of 2019. 

Meanwhile, revenue from construction under a concession arrangement increased 481.2% YoY.