BCPG Records THB564 Million of Net Profit in 3Q23 with Higher Contributions from Clean Energy Projects

BCPG Public Company Limited (SET: BCPG) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
564.77 640.86
Earning Per Share
0.1900 0.2200
% Change -11.87
9 Months 2023 2022
Net Profit (Loss)
Million Baht
1,277.73 2,334.13
Earning Per Share (Baht) 0.4400 0.8100
% Change -45.26

BCPG reported a net profit of THB 564 million in the third quarter of 2023, decreased 11.87% from the same period of last year. Meanwhile, core profit was THB 491.5 million, representing a drop by 21.5% YoY but grew 169.2% QoQ.

The increase of core profit when compared to the previous quarter was due to higher contribution from solar projects in Japan thanks to higher irradiation following the seasonal factor. Full-quarter contribution from hydropower projects in Lao PDR after it resumed operation in June 2023 as well as a full-quarter contribution from oil terminal in Thailand.

As for its wind power, BCPG recorded a higher contribution from wind power plants in Thailand following the seasonal factor.

Moreover, the company also recorded higher contributions from CCGT power plants in the USA thanks to the contributions from the new 2 projects (426 MW) and the entering into the high season. However, the better contributions were partly impacted by the lower contribution from solar power plants in Thailand and higher interest expenses.