Banpu Public Company Limited (SET: BANPU) has announced its 2Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
Banpu group performance for 2Q2023 reported net loss at $13 million, decreased by $385 million or 103% compared to 2Q2022. The primary factors involve the softening natural gas and coal prices over the course of the year. Furthermore, during the same quarter of the previous year, the group recognized bargain purchase gain from gas business combination in USA of $164 million. The group has strategically managed its cost and expense, allowing the group to navigate the uncertainties of the energy market and maintain a consistent cash flow stream.
Sales reported at $1,112 million (equivalent to THB 38,330 million), decreased by $661 million compared to 2Q2022, that derived from a decrease from coal businesses $417 million, natural gas business $242 million, power and steam business $42 and an increase in other businesses $40 million.