BPP Reports a 6% Increase in 1Q21 Earnings without the Loss from Ordinary Item in 1Q20

Banpu Power Public Company Limited (BPP) has reported its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

BPP reported a net profit of 1,034 million baht in 1Q21, increased 6.03% compared to a net profit of 975 million baht in 1Q20. This was mainly because in 1Q20 there was an accounting recognition of change in type of investment from amalgamation from restructuring of renewable energy and power technology business group. Consequently, BPP did not consolidate operating performance from solar power plant business and Energy Trading business in consolidated financial statements since March 2020. Such a business group was changed to be under the group of Banpu NEXT, an associate, thus, the group recognised share of profits from Banpu NEXT instead of consolidation as before.

 

Sales reported at 1,812 million baht, decreased by 31 million baht or 2% compared to 1Q20. The decrease mainly was a result of the change in investment type from group restructuring, that the group did not consolidate sales from solar power plants in China and from energy trading business in Japan.