GUNKUL’s 2018 Profit Skyrockets 133% from 170MW PP, Giving Dividend in Cash and Stock!
GUNKUL has reported profit growth of 133% in 2018 mainly due to the sales of electricity while proposing dividend payment in both cash and stock.
Gunkul Engineering Public Company Limited (GUNKUL) has reported its consolidated financial statement yearly 2018 through the Stock Exchange of Thailand as follows:
GUNKUL recorded THB 1,085.17 million of profit in 2018, increased 132.97% from the amount of THB 465.79 million in 2017. The Company had total revenues of THB 6,460.89 million, increased 31.49% from THB 4,913.48 million in 2017.
The rise of profit in 2018 was mainly due to the sale of electricity and the increase in the purchase price of electricity amounted THB 2,929.75 million, increased 90.79% from the previous year. The sale of electricity came from three projects of wind turbine power plant, with a total of capacity of 170 MW, which is considered to increase when compared to the same period of last year which sold electricity only 60 MW.
As of December 31, 2018, GUNKUL had total liabilities of THB 26,124.70 million, an increase of THB 5,582.11 million from the previous year, due to project loans for wind turbine power plants and solar power plants in Japan that has already sold commercial electricity.
Moreover, GUNKUL’s Board of Directors has resolved to propose a cash and stock dividend payment of ฿0.01/share in cash and 5 : 1 ratio of stock dividend to be paid on May 15, 2019. The ex-dividend date is April 25, 2019.