CK Power Public Company Limited (SET: CKP) has announced 1Q25 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 1Q25 | 1Q24 |
| Net Profit (Loss)
Million Baht |
70.47 | -460.97 |
| Earning Per Share
(Baht) |
0.0090 | -0.0570 |
CKP reported a net profit in 1Q25 of Baht 70.47 million, an increase of Baht 531.44 million or 1.50% compared to the previous year.
When excluding the foreign exchange gain (loss), the Core Net Profit would be Baht 63.4 million, representing a YoY increase of Baht 305.0 million or 126.2%.
The improvement was driven by an increase in the share of core net profit from XPCL from higher electricity sales and an increase in NN2’s electricity sales YoY.
Total Revenue in Q1 2025 decreased by 3.2% YoY, mainly due to a decline in BIC’s electricity sales revenue, consistent with the downward trend in the average natural gas price and the average Ft rate in Q1 2025. The decline led to YoY reductions in BIC’s Energy Payment revenue, electricity tariffs of industrial customers, and steam price per unit.
Meanwhile, the Revenue from Sales of Electricity of NN2 increased YoY, supported by higher reservoir level at the beginning of 2025, which allowed NN2 to declare higher electricity generation YoY.
In Q1 2025, the Company’s profitability ratios improved YoY, mainly driven by higher electricity sales revenue from NN2 and a decline in the share of loss from investment in associates.
Total Liabilities to Total Shareholders’ Equity Ratio declined slightly from the end of 2024, primarily due to the redemption of NN2’s debentures No. 1/2020 and No. 1/2019 in March 2025. Net Interest-bearing Debt to Total Shareholders’ Equity Ratio increased slightly from the end of 2024, mainly due to the decline of Cash and Cash Equivalent. Interest Coverage Ratio and DSCR improved from the end of 2024, mainly due to the improvement in EBITDA including Share of Profit.
Current Ratio decreased from the end of 2024, primarily due to lower Cash and Cash Equivalent. Overall, the Company’s key financial ratios remain at a healthy level.
