BCPG Reports Improved 1Q22 Profit, Fueled by Higher Revenues from Overseas Power Projects

BCPG Public Company Limited (SET: BCPG) announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
1,363.04 523.36
Earning Per Share
0.47 0.20
% Change 160.4

In 1Q22, BCPG recorded net profit of THB 1,363.0million, improved by 160.4% YoY and 473.4% QoQ. While recurring net profit (excluding one-time items) was THB 516.7 million, grew by 5.7% YoY but dropped 11.3% QoQ.

BCPG recorded the total one-time gain of THB 846.3 million (mainly from the gain from sales of investment in associate (SEGHPL)), compared to 1Q21 that recorded the total one-time gain of THB 34.5 million.

For the recurring income, an improvement in net profit was due to higher revenue contribution from hydropower projects in Lao PDR and solar power plants Japan. Plus, higher share of profit from wind power plant in the Philippines.

At the end of 1Q22, total contracted capacity was 369.6MW, decreased by 22.1% YoY and 26.3% QoQ from the disposal of 33.3% Star Energy Group Holdings Pte Ltd. shares to Springhead Holdings Pte Ltd. in March 2022.