WHA Corporation Pcl. (SET: WHA) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 1Q22 | 1Q21 |
| Net Profit (Loss) (in thousands) |
656,070 |
134,708 |
| Earning Per Share (Baht) |
0.0439 |
0.009 |
| % Change | 387% | |
During 1Q2022, the Company had total revenue and share of profit and net profit of THB 2,182.2 mm and THB 656.1 mm, respectively. If excluding FX impact and extraordinary items, the Company had the normalized total revenue and share of profit and normalized net profit of THB 2,164.6 mm and THB 653.2 mm, respectively.
Total Revenue and Share of Profit and Net Profit for 1Q2022 were THB 2,182.2 mm and THB 656.1 mm, respectively. This statutory figure consists of the normal business operation and FX impacts, which was mainly unrealized gain/loss. In addition, the Company’s Normalized Total Revenue and Share of Profit and Normalized Net Profit for 1Q2022 stood at THB 2,164.6 mm and THB 653.2 mm, respectively.
Rental and Service Revenue during 1Q2022 decreased by 17.5% to THB 228.5 mm, compared to the same period of previous year because of lower occupied area from assets monetization to WHART in the end of 2021.
Revenue from Land Business for 1Q2022 was THB 694.0 mm, increased by 350.4% compared to the same period of last year, mainly due to a higher number of land transfer after relaxation of international travel restriction since late 2021.
During 1Q2022, Utilities Income was THB 622.0 mm and increased by 6.1%, compared to the same period of last year, which was from the increase in sale volume of all products, resulting from higher demand on both existing customers and new customers.
Normalized Share of Profit from Investment in Power Associates and Joint Ventures for 1Q2022 was THB 40.9 mm, decreased by 75.3%, compared to the same period of previous year, mainly due to increase in coal price (resulting from suppression of Indonesia coal export during the early 1Q2022) and 18 days maintenance shutdown of Gheco-1. Also, SPPs have been impacted from increase in natural gas price while Ft has not reflected the real cost yet.
