BANPU’s Turnaround to See a Profit Hike ฿915.95M from High Sale

BANPU Public Company Limited (BANPU) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

 

BANPU recorded a net profit in the first quarter of 2019 at THB 915.95 million, compared with the same period of last year showing a net loss of THB -1,262.89 million. The profit was mainly from one-time indemnity payment of $86 million in 1Q18 that was nil in 1Q19, while, a decrease of gross profit by $39 million.

Sales reported at $699 million (equivalent THB 22,100 million) with minor changes compared to 1Q18, there was from a decrease of $13 million from coal businesses, a decrease of $9 million from power and steam business, while an increase of $10 million from natural gas business. Details of revenue were described as follows:
1) Sales from coal business of $575 million or 82% of total revenue, segmented by geographic as below:  Sales from Indonesia coal mines of $425 million, sales from Australia coal mines of $143 million and sales from others of $7 million
2) Sales from natural gas business of $ 36 million or 5% of total revenue, an increase of $10 million were from an increase of production and sales volume compared to 1Q18
3) Sales from Power and steam of $56 million or 8% of total revenue were from Combined Heat and Power (CHP) plants and solar power plants in China.
4) Others of $32 million represented 5% of total revenue, an increase of $11 million mainly was from fuel trading business of a subsidiary in Indonesia.