B.Grimm Power Public Company Limited (SET: BGRIM) has announced its 2Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q22 | 2Q21 |
| Net Profit (Loss) Million Baht |
-193.17 | 1,021.98 |
| Earning Per Share (Baht) |
-0.110 | 0.350 |
| 6 Months | 2022 | 2021 |
| Net Profit (Loss) Million Baht |
-136.87 | 1,632.94 |
| Earning Per Share (Baht) |
-0.14 | 0.55 |
BGRIM reported a net loss of THB 193 million in 2Q22, contrasted to its THB 1,021 million of net profit in 2Q21. The decrease was mainly due to an unrealised FX loss of THB 541 million and a rise in total cost of sales and services by 63.9%.
Sales revenue rose 27.9% YoY to THB 14,676 million in 2Q22 and 34.2% YoY to THB 29,434 million in 6M22 with total sales volume of 7,114 GWh from 1) tariff increases especially from EGAT’s fuel pass-through mechanism, 2) IU’s electricity volume growths of 3.2% and 5.1% consecutively from both existing clients and 32.3 MW new clients in 6M22, 3) growths from hydro projects in Laos and 4) the commenced operation of 16 MW wind projects in Thailand in Aug 2021.
Natural gas cost sharply surged 63.9% YoY in 2Q22 to THB 10,491 million and 79.3% YoY in 6M22 to THB 21,408 million, primarily due to the 76.6% YoY and 87.7% YoY respectively rose in natural gas price. Note that the natural gas price is linked with the weighted average price from PTT’s pool gas.
In addition, BGRIM announced an interim dividend payout of THB0.03 per share to be paid on 9 September 2022 with an ex-dividend date on 25 August 2022.
