UBE Reports 1Q22 Net Profit of THB115 Million, a 205% Increase Year-Over-Year

Ubon Bio Ethanol Public Company Limited (SET: UBE) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
115.64 37.94
Earning Per Share
0.03 0.014
% Change 204.8

In 1Q22, UBE recorded a total profit at the amount of THB115.6 million, increased THB77.7 million or 204.8% YoY, while earning per share was THB0.03, increased THB0.02.

An increase in net profit was a result of total sales revenue increased THB406.1 million or +35.9% (YoY) to THB1,538.0million, mainly attributable to a recovery in ethanol business from the ease of lockdown, but decreased THB395.2 million or -20.4% from 4Q21 (QoQ) with a decline in fuel-grade ethanol sales volume and native starch sales volume, both due to seasonality effect (4Q21 is the peak of the seasons).

Net profit margin was recorded at 7.5%, mainly driven by higher proportion of organic starch, which is high-value product, and a reduction in financial cost.