EA Shows Off 985 Million Profit in 2Q18, Expecting COD of Hanuman Wind Farm in 4Q18
EA shows a promising profit of 985 million baht in 2Q18, while expecting Hanuman Wind Farm and batter storage business to push EA to a new high this yeah.
Energy Absolute Public Company Limited (EA) announced their consolidated financial statement of 2Q18 through SET.
EA earned the net profit of 984.93 million baht, increased by 18.64 million baht (1.93%) from the same quarter of last year, while earned the net profit of 2,931.68 million baht, increase by 985.92 million baht (50.67%) in 1H18.
The major factors of EA’s gain were from cost of sales and service, which for the three-month and six-month periods ended 30th June 2018, cost of sales were 1,379.34 million baht and 2,834.34 million baht, decreased by 183.25 million baht and 54.89 million baht (or decreased by 11.73% and 1.90%) respectively.
However, the administrative expenses were highly increased for by 132.00 million baht and 171.28 million baht (101.42% and 65.52%) respectively.
Mr. Amorn Sapthaweekul said that the plan of 2H18 would remain the same, which is to continue the construction of the 260MW Hanuman wind farm in Chaiyaphum province. The COD has been set on the fourth quarter of 2018, which will accumulate EA’s solar and wind farm to 664 MW, and will lead EA to the new high in revenue due to the increase of production capacity.
EA’s battery storage business is on the first phase construction for 1 GWh, and expecting the earning at the end of 2019, while the second phase will increase the production capacity to 50 GWh in total.