Banpu Public Company Limited (SET: BANPU) has announced its 2024 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 2024 | 2023 |
| Net Profit (Loss) Million USD |
-24.00 | 160.00 |
| Earning Per Share (USD) |
-0.0020 | 0.0180 |
Banpu group performance for 2024 reported net loss at $24 million, decreased by $184 million or 115% compared to 2023.
This was due to the declining market prices of coal and natural gas, despite an increase in coal sales volume and a decrease in average cost per ton, and a decrease in operating performance from gas-fired power plants in the USA due to milder and less volatile weather conditions resulting in average electricity prices remaining relatively low.
Furthermore, the group recognized an unrealized loss on exchange rate resulting from an appreciation of THB currency against USD currency compared to the previous year and from impairment of investment resulting from divestment in Nakoso power plant to align with the portfolio management strategy. The group has strategically managed its costs and expenses, allowing the group to navigate the uncertainties of the energy market and maintain a consistent cash flow stream.
Sales reported at $5,148 million (equivalent to THB 181,549 million), increased by $65 million compared to 2023. That an increase derived from natural gas business $20 million and others $159 million, while a decrease was from power and steam sales business $83 million and coal business $31 million. Details were described as follows:
- Sales from coal business of $3,290 million or 64% of total revenue separated by source of coal as below:
- Indonesia coal mines of $2,294 million
- Australia coal mines of $914 million
- Coal trading business of $82 million
- Sales from natural gas business in the USA of $726 million or 14% of total revenue.
- Sales from power and steam of $777 million or 15% of total revenue derived from CHP power plants and solar power plants in China, solar power plants in Australia, wind and solar power plants in Vietnam and gas-fired power plants in the USA.
- Others of $355 million or 7% of total revenue. This was mainly from the energy trading business in Japan and battery business in Singapore.
Cost of Sales reported at $3,900 million, increased by $235 million compared to 2023.
As for the gross profit, BANPU reported its performance at $1,248 million, a decrease of $170 million or 12 percent compared to 2023.
