UBE Reports THB5.1 Billion of Revenue for 9M22 with Strong Performance in Ethanol Segment

Ubon Bio Ethanol Public Company Limited (SET: UBE) has announced its 3Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q22 3Q21
Net Profit (Loss)
Million Baht
-19.96 97.35
Earning Per Share
-0.0050 0.0350
9 Months 2022 2021
Net Profit (Loss)
Million Baht
179.46 204.01
Earning Per Share (Baht) 0.0460 0.0740
% Change -12.03

UBE stated that the company generated total revenue of THB5,141.5 million, increased THB104.0 million or +2.1% from the same period of last year. The increase was mainly attributable from an increasing volume of fuel-grade ethanol and stronger ethanol selling price.

The company recorded total profit at the amount of THB179.5 million, declined THB24.5 million or -12.0% YoY mainly due to a lower sales volume of industrial-grade ethanol.

In 9M’22, the company’s cost of sales was THB4,489.8 million, or 87.3% of total sale revenue, increased THB240.7 million (+5.7% YoY) , mainly due to higher raw material costs, especially cassava. Thus, overall gross profit margin in 9M’22 dropped to 12.7% from 15.6% in 9M’21.