GUNKUL Reports THB589 Million for 3Q21 Earnings, Affirming 15% Growth in 2021
GUNKUL remained solid on its core business with 589 million baht of net profit in 3Q21, affirming target growth for 2021 by 15%.
Gunkul Engineering Public Company Limited (GUNKUL) has announced its 3Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
GUNKUL reported a net profit of 589 million baht in 3Q21, decreased 41% when compared to the same period of last year. The decrease in net profit was mainly due to a one-time gain in 3Q20 from asset disposal at the amount of 806.53 million baht. Meanwhile, the 9-month period showed an amount of 1,719.58 million baht, representing an increase of 1.91 million baht or increase of 0.11%.
Revenue from sale of electricity and adder in the purchase price of electricity showing in the consolidated financial statements for the 3-month period ended 30th September 2021, amounted to 1,206.65 million baht, compared to the same period of the previous year showing 946.49 million baht, an increase of 260.16 million baht, representing an increase of 27.49%.
Revenue from sales of solar power for the 3-month period ended 30th September 2021 showing 612.65 million baht, compared to the same period of the previous year showing 510.05 million baht, an increase of 102.60 million baht, representing an increase of 20.11%
Revenue from sales of wind power for the 3-month period ended 30th September 2021 showing the amount of 594.00 million baht, compared to the same period of the previous year shown at 436.44 million baht, an increase of 157.56 million baht, representing an increase of 36.10%.
Moreover, GUNKUL recorded gain on change in fair value of derivatives for the 3-month period ended 30th September 2021, showing a profit of 179.14 million baht, compared to the same period of the previous year showing a profit of 21.33 million baht, an increase of 157.81 million baht, representing an increase of 739.85%.
Nevertheless, revenue of construction and services section for the 3-month period ended 30th September 2021 showing 296.87 million baht, compared to the same period of the previous year shown at 460.88 million baht, a decrease of 164.01 million baht, representing a decrease of 35.59%.
GUNKUL stated that its goal is to grow in both renewable energy business, energy-related business and technology, electrical equipment manufacturing and distribution businesses and comprehensive construction service businesses.
In addition, the company has also expanded its business into the cannabis – hemp business because the company sees a good return both in the short and long term. Moreover, the company has the readiness and advantages of investing in this project in many aspects. Therefore, the company has maintained its growth target in 2021, not less than 15%, which is a continuous growth for more than 10 years of the company (since listed on the Stock Exchange of Thailand).