SCN Records ฿43Mn of Profit in 2020, Targeting to Expand Solar Roof Capacity Continuously

Scan Inter Public Company Limited (SCN) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

SCN reported a net profit of 43 million baht in 2020, decreased 77.86% from a net profit of 195.90 million baht in 2019. The decrease in net profit was mainly due to a one-time gain of 189 NGV buses, special profit from disposal on assets, coupled with a slow down in consumption in all industries from COVID-19 situation.

 

Revenue from sales and services decreased by 49.7% YoY in 2020 to 1,495.7 million baht, mainly caused by the decrease of revenue affected from the successful delivery of 189 units of NGV buses in 2019 and evaporation of revenue in Auto Dealership business, which was not profitable after the disposal on assets in 4Q19 as well as the slowdown in domestic economy due to COVID-19 crisis.

Revenue from logistics and others increased by 34.3% YoY in 2020 to 212.9 million baht. The increase in revenue mainly came from a starter of Solar Rooftop spare parts selling in 3Q20.

 

In 2020, the Solar Rooftop projects, Private PPA (P-PPA), have achieved COD for 9 projects with a total capacity of 5 Megawatt. At the end of 2020, SAP had Private PPA totaled 17 Megawatt. In addition, SAP aims to enlarge its capacity continuously under the Private PPA and maintain the target to have a Private PPA of 47 Megawatt within 2021.

 

Green Earth Power (Thailand) Co., Ltd. (GEP), an associate company of Scan Inter Plc., notified to proceed with Phase 2’s construction on capacity of 50 Megawatt in August 2020 and Phase 3’s construction on capacity of 50 Megawatt in October 2020. Phase 3 and phase 4 are expected to be complete within 2021 and 2022, respectively. This will enhance the company’s results of operations.

 

SCN won two maintenance contracts owned by PTT, which is a maintenance and repair contract for PTT NGV service station covering Bangkok Metropolis and Vicinity area, totaled 150 stations. The period of the contract is 2 years, and it is worth approximately 195 million baht.

 

In addition, the Board of Directors of SCN approved a dividend payment of ฿0.0425/share to be paid on May 20, 2021. The ex-dividend date is May 6, 2021.