CK Power Public Company Limited (SET: CKP) has announced its 2024 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Year | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
1,344.54 | 1,462.11 |
| Earning Per Share (Baht) |
0.1700 | 0.1800 |
| % Change | -8.04 | |
CKP reported a net profit of Baht 1,344.5 million in 2024, representing a YoY decrease of Baht 117.6 million or 8.0%. Excluding the foreign exchange gain (loss), the Core Net Profit would be Baht 1,286.7 million, a YoY decrease of Baht 141.5 million or 9.9%. The decline was primarily due to a decrease in share of core net profit from XPCL and higher finance costs due to increased interest-bearing debt and rising interest rates, which was partially offset by a YoY increase in NN2’s electricity sales volume.
Total Revenue in 2024 decreased by 1.4% YoY, primarily driven by a decline in BIC’s electricity sales revenue. This is consistent with the downward trend in the average natural gas price and the average Ft rate in 2024, which led to YoY reductions in BIC’s Energy Payment revenue, electricity tariffs of industrial customers, and steam price per unit. The decrease was partially offset by YoY higher revenue from NN2’s electricity sales, driven by YoY higher reservoir level at the beginning of 2024 and higher inflow during the year due to the La Niña condition, which enabled NN2 to declare higher electricity generation.
Meanwhile, revenue from Sales of Electricity of NN2 increased by 25.3% YoY in 2024. The growth was mainly driven by a higher reservoir level at the Nam Ngum 2 Hydroelectric Power Plant at the beginning of 2024 compared to the previous year, an increase in water inflow 7.7% YoY, attributable to higher rainfall caused by the La Niña condition, particularly in late Q3 2024. As a result, NN2 was able to increase its electricity generation declaration by 26.3% YoY.
Additionally, the Board of Directors approved a dividend payment of THB0.085 per share to be paid on 23 May 2025. The ex-dividend date is 7 May 2025.
