B.Grimm Power Public Company Limited (SET: BGRIM) has announced its 3Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q22 | 3Q21 |
| Net Profit (Loss) Million Baht |
-529.33 | 447.47 |
| Earning Per Share (Baht) |
-0.2400 | 0.1300 |
| 9 Months | 2022 | 2021 |
| Net Profit (Loss) Million Baht |
-699.20 | 2,080.41 |
| Earning Per Share (Baht) | -0.3800 | 0.6800 |
BGRIM reported that sales revenue rose 56.9% y-o-y to THB 18,383 million in Q3’2022 and 42.1% y-on-y to THB 47,817 million in 9M’2022 with total sales volume of 3,700 GWh in Q3’2022 and 10,772 GWh in 9M’2022 from 1) tariff increases especially from EGAT’s fuel pass- through mechanism and Ft, 2) new IU clients in Thailand with total PPA of 33.4 MW synchronization in 9M’2022, 3) strong recovering IU volume in Vietnam from country’s lockdown during pandemic in Q3’2021, 4) growths from hydro projects in Laos in 9M’2022 and 5) the commenced operation of 16 MW wind projects in Thailand in Aug 2021.
However, normalised net profit was down by 95.6% y-on-y to THB 25 million, mainly from a 107.9% increasing gas price which impacted IU business (contributing 18.0% of total revenue). Meanwhile, an unrealised FX loss of THB 830 million in Q3’2022 caused the company to record a net loss of THB 529 million baht in the third quarter of 2022 and THB 699 million for the nine months period.
