Bangkok Expressway and Metro Public Company Limited (SET: BEM) has announced its 1Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q23 | 1Q22 |
| Net Profit (Loss) Million Baht |
749 | 336 |
| Earning Per Share (Baht) |
0.05 | 0.02 |
| % Change | 123 | |
In 1Q23, BEM reported a net profit of Baht 749 Million, representing an increase from the same quarter of the previous year by Baht 413 Million or 123% mainly from an increase in revenue which related to an improvement of economic and open country policy while the first quarter of the year 2022, the subvariant of Coronavirus disease 2019 has still widely spread.
Services income was at Baht 4,099 Million, representing an increase from the same quarter of the previous year by Baht 1,005 Million or 32%.
Cost of services was at Baht 2,339 Million, representing an increase from the same quarter of the previous year by Baht 433 Million or 23%. Selling and administrative expenses was at Baht 301 Million, representing an increase from the same quarter of the previous year by Baht 37 Million or 14% which related to an increase in revenues.
The revenue from Expressway business was at Baht 2,276 Million, up Baht 369 Million or 19% YoY, mainly from an increase in the traffic volume in all expressway sectors due to the unfolding of Covid-19. Therefore, all activities returned to normal. The average traffic volume for this quarter was at 1.13 Million trips per day.
Revenue from Rail business amounted to Baht 1,568 Million, up Baht 577 Million or 58% YoY. Farebox revenue from the MRT Blue Line Project increased by Baht 475 Million or 102%, resulting in a continuous increase in passengers due to the unfolding of Covid-19 including the number of tourists increased. The average ridership for this quarter was at 381,400 trips per day and the average working day ridership was more than 430,000 trips per day. The revenue from O&M services of the Purple Line Project increased by Baht 102 Million or 19%.
