BPP Records 25% Higher of Profit in 2020 from HPC-CHP, Offering Bt0.35 Dividend Payment

Banpu Power Public Company Limited (BPP) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

In 2020, BPP reported a net profit of 3,702 million baht, increased 24.71% from a net profit of 2,968 million baht in 2019. The increase was mainly due to higher contributions from Hongsa Power Plant (HPC) and Combined Heat and Power Plants (CHP) and the successful cost reduction program across all operations.

 

The total revenue was 5,506 million baht, mainly from China CHP plants of 5,288 million baht, and revenue from China solar and Energy trading in Japan of 218 million baht which recognized under BPP financial performance for one quarter in 1Q20 prior to the amalgamation of Banpu NEXT.

China CHP reported better performance reflecting its solid demand from both industrial and residential users, support by Chinese government COVID-19 pandemic response measures and China CHPs’ successful implementation of centralized coal procurement system resulted in an average coal cost reduced to 572 RMB/ton compared to 599 RMB/ton previous year, the reported gross profit margin, therefore, improved to 20%.

 

In addition, the Board of Directors approved a dividend payment of ฿0.35/share to be paid on April 28, 2021. The ex-dividend date is April 9, 2021.