EA Maintains the Business to Record a Profit of ฿1.15Bn in 2Q amid COVID-19 Outbreak

Energy Absolute Public Company Limited (EA) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

EA reported a net profit of 2Q20 at 1,149 million baht, decreased 20.31% compared to a net profit of 1,442 million baht in 2Q19, mainly due to currency exchange loss for the quarter.

In 2Q20, the company earned the total revenue of Baht 4,175.30 million, which increased Baht 535.16 million or 14.70% compared to the same period of last year, mainly due to an increase of the revenue from biodiesel and the revenue from glycerin.

The revenue from generating and distributing electricity for the quarter decreased by Baht 78.67million or 2.93% as wind power plant projects generated less revenue in the second quarter compared to the same period of last year as second quarter is normally low season for wind and for this year, wind in southern provinces was weaker than previous year.

For the second quarter, cost of sales and services was Baht 2,243.73 million, increased Baht 582.28 million or 35.05% compared to the same period of last year which incurred the cost of sales and services of Baht 1,661.45 million.