B.Grimm Power Public Company Limited (SET: BGRIM) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q22 | 1Q21 |
| Net Profit (Loss) Million Baht |
23.30 | 610.96 |
| Earning Per Share (Baht) |
-0.0300 | 0.2000 |
| % Change | -96.19 | |
BGRIM reported a net profit of THB 23 million in 1Q22, decreased 96.19% from a net profit of THB 610 million in 1Q21.
Total sales revenue rose 41.2% y-o-y to THB 14,758 million with total sales volume of 3,490 GWh from 1) hike tariffs by 65.8% for EGAT (from fuel pass-through mechanism) and 7.1% for IU (from rising Ft), 2) IU electricity volume rose by 7.0% from both existing clients and 23 MW new clients and 3) growths from solar and wind projects in Thailand and hydro projects in Laos.
Natural gas cost was THB 10,917 million in 1Q21, sharply surged 97.1% y-on-y, primarily due to the 100.4% y-on-y rose in natural gas price. Note that the natural gas price is linked with the weighted average price from PTT’s pool gas.
Gain on Exchange Rate (FX) was THB 14 million in 1Q22 mainly from THB appreciation against Swedish Krona for Long-Term Service Agreement (LTSA) payment over this period.
