Sinon Vongkusolkit, CEO of Banpu Public Company Limited (SET: BANPU), projects a robust outlook for the company’s 3Q25 performance, as the winter season is expected to increase gas price in the next two quarters. Meanwhile, the coal price, which may have passed its lowest point, is expected to rebound, although not in a V-shape increment. However, the company is closely monitoring the foreign exchange (FX) to determine the quarterly outcome.
Upside to BANPU’s 2H25 operation is set to uplift the company’s 1H25 loss of $42.76 million (approx. THB 1,428 million), which was recognized from an unrealized FX. Interim dividend will need to be discussed in the Board of Director meeting first, but the company has affirmed that its shareholders’ benefit remains the top priority.
For 2026, BANPU sees a further improvement in gas price compared to 2025. The company has locked the sales price for more than half of its capacity at $3.5-3.6 per million BTU, this sector already has an inflow to sustain operation. Coal price is also anticipated to strengthen as well, which could lead to a better sales price in the future.
As for the divestment, BANPU has sold its stake in Nakoso IGCC Power Plant G.K. (Nakoso) to redirect cash flow toward new investment to sustain the company’s long-term growth. This reflected the company’s commitment to sustainable growth and providing green energy solutions.
Recently, the company has invested in Tokumei Kumiai (TK) structures in 10 solar power plants in Japan, totaling 91.69 megawatt. The investment goal is to bring cash flow into future renewable energy projects.
In 1H25, BANPU expanded its business under the “Energy Symphonics” strategy. This strategy focuses on portfolio optimization to direct cash flow toward high-performing assets, restructuring its operation, implementing digital technologies and artificial intelligence (AI), decreasing mining cost, as well as rebalancing capital structure to reflect the company’s long-term plan.
Key progress includes: natural gas business, CCUS Renewable+ business, and new age mining business, which BANPU sees as an important mission that will create additional values for the company, and a key component in a sustained transformation.
