Banpu Public Company Limited (SET: BANPU) has announced its 2022 consolidated financial statement through the Stock Exchange of Thailand as follows;
|Net Profit (Loss)
|Earning Per Share
BANPU reported a net profit of USD 1,162 million, a significant increase of more than triple compared to previous year. The major contribution comes from the record high commodity prices for both coal and natural gas, result in an average selling price (ASP) of coal for 167.66 USD/ton, increase nearly double compare to previous year, and the average local price of US Natural gas for 5.72 USD/Mcf, increase by 58% compare to previous year, coupled with the company’s ability to maintain operational resiliency with high flexibility, allowing all business units to create value by capturing upside opportunity during high commodity price to continue generate strong and consistent cash flow.
The reported net profit already included several strategic transactions during the year which are gain from divestment of shareholding in Sunseap Group Pte. Ltd. of USD 179 million, gain from investment in North Texas Shale or XTO gas asset in the US of USD 171 million and also the impact of provision on Altai Nuurs project in Mongolia of USD 375 million as a result of the public transportation infrastructures that is necessary for the project developing and commercial operating did not progress as planned.The company decided to set a provision for prudent reporting in FY 2022.
Coal businesses reported outstanding performance, driven by higher selling prices which improved by nearly doubled compared to previous year. The group ASP improved to USD 167.66/ ton, up by 84% compared to the previous year which reported an ASP of USD 91.17/ton. The total coal sales volume was 30.95 million tons, slightly declined by 3% compared to previous year. The average gross profit margin from the coal business therefore increased to 57%.
In addition, the Board of Directors approved a dividend payment of THB0.75 per share to be paid on 28 April 2023. The ex-dividend date is on 10 April 2023.