CKP Rises! 3Q18 Profit Reaches “All-Time High”, More to Come from Early COD of Xayaburi
CKP's profit has reached an all-time high in 3Q18, almost ฿400 million.
CK Power Public Company Limited (CKP) has reported its 3Q18 consolidated financial statement through the Stock Exchange of Thailand as follows:
CKP’s 3Q18 profit was 398.8 million, increased ฿141.97% YoY, and the nine months profit was ฿477.51 million, increased 262.11% YoY. The high profit in the third quarter was due to the feeding of electricity and steam.
The revenue from sales of electricity and steam (including electricity tariff adders) in the 3rd quarter of 2018 was ฿2,943.0 million, increased by ฿692.0 million or 30.7% from the same period last year. For the nine-month period of 2018, the revenue was ฿6,668.6 million, increased by ฿1,752.8 million or 35.7% from the same period last year. CKP also booked more profit from higher sales of electricity from Bangpa-in Cogeneration 2.
On November 8, 2018, CKP‘s shares closed at ฿5.45/share, jumped ฿0.40 or 7.92% with ฿826 million in total value. Higher trading of CKP came in the afternoon session after the report of the electricity rate hike, resulted in the possibility of early feeding (COD) of Xayaburi Hydroelectric Power Project -total capacity of 1,280MW- in early next year instead of October 2019, in order to support the higher electricity cost as hydroelectric has lower cost.