Mr. Thanawat Trivisvavet, Managing Director of CKPower Public Company Limited (SET: CKP), one of the region’s largest producers of electricity from renewables with one of the lowest carbon footprints, announced the operating results of the Company and its subsidiaries for 3Q25 and the first nine months of 2025. CKPower reported the Core Net Profit of Baht 1,227 million in 3Q and Baht 1,643 million for the nine-month period, representing increases of Baht 641 million or 110% year-over-year, and Baht 1,151 million or 234% year-over-year respectively, marking continued operating performance growth from 1H 2025.
The key factors contributing to the Company’s strong performance included a favorable water flow through Xayaburi Hydroelectric Power Plant, which remained at an optimal level throughout the first nine months of 2025, enabling uninterrupted power generation. As a result, Xayaburi Power Company Limited (XPCL) achieved a 27% increase in electricity sales volume compared to the same period last year. Coupled with lower financial costs in line with the global interest rate trend, CKPower recognized a share of core operating profit from XPCL of Baht 904 million in the third quarter and Baht 1,125 million for the nine-month period, representing increases of Baht 536 million and Baht 1,110 million respectively. In addition, Nam Ngum 2 Power Company Limited (NN2) recorded higher electricity sales revenue due to increased water inflows into its reservoir during the first nine months, particularly in July 2025 when the inflow reached its highest level since the start of NN2’s commercial operations, resulting in a 26% increase in electricity sales volume year over year.
“NN2 benefited from relatively high inflows into its reservoir, particularly in the third quarter, due to the impact of Tropical Storm “Wipha,” which resulted in a high reservoir water level. It is expected that the water level will remain high through the end of this year, supporting electricity generation into the first quarter of 2026. In addition, the downward trend in policy interest rates in both the United States and Thailand is expected to help reduce financial costs and continue to support CKPower’s operating performance into 2026.As for Luang Prabang Hydroelectric Power Project, construction progress reached 59% completion as of the end of September 2025 in line with plan.” Mr. Thanawat further added.
CKPower also maintains a solid financial position. As of September 30, 2025, total assets increased by 7% from year-end 2024, mainly due to proceeds from the Company’s Baht 5 billion Green Debenture issuance (No. 1/2025) and cash flows from operations, which were used for investments in Luang Prabang Power Company Limited (LPCL) along with the strong first nine months 2025 performance of XPCL.The Net Interest-bearing Debt to Equity Ratio remained low at 0.53 times and the Interest Coverage Ratio stood at 6.50 times, underscoring robust financial strength and effective debt management. The Company remains vigilant of interest rate fluctuations and is committed to maintaining a prudent balance in its long-term debt management to support sustainable growth.
“CKPower remains committed to driving growth through the development of renewable energy and enhancing energy security, while contributing to Thailand’s transition toward a low-carbon society. The Company strives to ensure a stable and reliable energy supply alongside promoting and supporting innovation in energy efficiency to enhance electricity generation performance. CKPower also aims to raise awareness on energy conservation across its entire value chain as part of its journey toward achieving net-zero greenhouse gas emissions by 2050” concluded Mr. Thanawat.
