GUNKUL’s Profit Jumps More Than 160% to THB1.54 Billion in 3Q22, Hands Out THB0.06 Dividend

Gunkul Engineering Public Company Limited (SET: GUNKUL) has announced its 3Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q22 3Q21
Net Profit (Loss)
Million Baht
1,539 589
Earning Per Share (Baht) 0.17 0.07
% Change 161.29
6 Months 2022 2021
Net Profit (Loss)
Million Baht
2,821 1,721
Earning Per Share (Baht) 0.32 0.20
% Change 63.88

GUNKUL had a net profit of 1,539.45 million baht for the three-month period ended September and a net profit of 2,821.13 million baht for the nine-month period, compared to the same period of previous year for the 3-month period shown at 589.17 million baht, an increase of 950.28 million baht or 161.29%, and for the 9-month period shown at 1,721.49 million baht, an increase of 1,099.64 million baht or 63.88%.

Total revenues for the 3-month period amounted to 3,335.19 million baht, an increase of 662 million baht or 24.76%, which can be summarized according to the following sections;

1. Power Generation and Distribution Section:

Revenue from sale of electricity and adder in the purchase price of electricity in 3Q22 amounted to 750.98 million baht, a decrease of 455.67 million baht, or 37.76%.

2. Revenue from Sales of Assets under Finance Lease Agreements:

Revenue from sales of assets under finance lease agreements was at 48 million baht, a decrease of 593.63 million baht, or 92.52%.

3. Profit from change in fair value of derivatives:

Profit (loss) from changes in fair value of derivatives showed a profit of 72.09 million baht, a decrease of 107.05 million baht or 59.76%, which originated from US dollar swap contracts from the past wind power projects, also an interest rate swap contracts from solar and wind power projects, which began to be recorded in accordance with TAS 9 Financial Instruments, effective from January 1, 2020 onwards.

4. Profit from change of interests in subsidiaries into joint ventures:

Profit from change of interests in subsidiaries into joint ventures amounted to 1,330.72 million, an increase of 100% from the previous year.

In addition, GUNKUL announced a dividend payout from the operational performance during July-September of THB0.06 per unit to be paid on 8 December 2022 with an ex-dividend date on 24 November 2022.