Banpu Power Public Company Limited (SET: BPP) announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
3,127.03 | 3,702.48 |
| Earning Per Share (Baht) | 1.03 | 1.21 |
| % Change | -15.54 | |
BPP reported its 2021 net profit of THB 3,127 million including the FX translation gain of THB 374 million due to weakening of the Thai currency against US Dollar. HPC operated with high efficiency and continue to provide firm share of profit. The Company had additional profit from Nakoso in Japan and Temple I in the United States. Its EBITDA was reported at THB 3,487 million.
The revenue for 2021 was reported at THB 6,784 million, increased by 23% compared to last year. This derived from 3 Combined Heat and Power Plants (CHPs) in PRC for THB 6,112 million. Although CHPs plants experienced high domestic coal cost over the year, the Company has mitigated this risk by counter measures such as implementing centralized coal procurement system, negotiating with its counterparty to raise steam selling price to reflect the higher coal cost, proactively optimize the plant operation mode to protect bottom line, and carefully manage its coal inventory to run the plant with smooth operation and be able to provide electricity and steam to serve industrial customers and residential customers efficiently. Moreover, there was additional revenue from Temple I of THB 673 million, the Company started to recognize Temple I revenue since November 2021 onwards.
The share of profit from associates and joint ventures was reported at THB 2,974 million, from HPC power plant equivalent to THB 3,612 million, increased by 12% from last year.
Cost of sales was THB 6,824 million, increased by THB 2,433 million compared to 2020 from: 1) CHP Power Plant in China that cost of sales increased by THB 1,884 million, 2) Gas-fired power plant in USA that cost of sales increased by THB 711 million from new investment for business expansion in USA, and 3) Solar power plant in China and energy trading business in Japan that cost of sales was decreased by THB 48 million and THB 114 million, respectively from changes in type of investment according to the Group investment restructuring resulted in unable to consolidate cost of sales since March 2020. The increase in cost led to a negative gross profit in 2021. Gross loss was THB 40 million, or decreased by THB 1,155 million compared to 2020.
In addition, the Board of Directors approved a dividend payment of THB0.35 per share to be paid on 27 April 2022. The ex-dividend date is 8 April 2022.
