BCPG Records 115% Core Profit Growth in 1Q24 with Contribution from Tank Terminals and Clean Energy Projects

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

Year 1Q24 1Q23
Net Profit (Loss)
Million Baht
440.51 511.85
Earning Per Share
0.1500 0.1800
% Change -13.94

BCPG recorded core profit of THB 343.1 million, grew by 114.7% YoY. The company had higher contributions from tank terminals in Thailand based on the start recognition in June 2023. Meanwhile, the company also recorded higher contributions from hydropower and wind power plants as well as a higher share of profit from combined cycle gas turbines (CCGT) in the USA.

However, the higher contribution was partly offset by lower contributions from solar power plants and wind power plants in Thailand together with solar power plants in Japan as well as higher interest expenses.

Revenue from sales and rendering of service for the quarter was THB 1,194 million, increased 12.9%. However, a rise in cost of sales and rendering of services rose 33% to THB 693 million and 82% of financial costs to THB 419 million pressured its bottom line to record a 14% decline to THB 440.5 million.

At the end of Q1/2024, total contracted capacity was at 1,250.0 MW, remained unchanged from the previous quarter, but increased by 130.3% YoY.