BANPU Public Company Limited (SET: BANPU) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss)
Million USD |
26.00 | -13.00 |
| Earning Per Share
(USD) |
0.003 | -0.001 |
| % Change | 300.00 | |
| 6 Months | 2024 | 2023 |
| Net Profit (Loss)
Million USD |
118.17 | 264.26 |
| Earning Per Share
(USD) |
0.007 | 0.016 |
| % Change | -55.28 | |
BANPU reported a net profit in 2Q24 of $26 million, increased by $39 million or 300% compared to 2Q23 even though there were factors from the declining market prices of coal and natural gas. This was due to the effective cost management during the volatility of the energy price situation. In addition, the performance from the Temple II gas-fired power plant acquired since 3Q23 was included. However, the group had higher finance costs compared to 2Q23, this was to support business expansion in the USA. The group has strategically managed its costs and expenses, allowing the group to navigate the uncertainties of the energy market and maintain a consistent cash flow stream.
Sales reported at $1,308 million (equivalent to THB 48,003 million), increased by $150 million compared to 2Q23, that derived from an increase from coal business $ 30 million, power and steam business $107 million and other businesses $21 million, while a decrease in natural gas business $8 million.
Coal sales of $856 million or 65% of total revenue, which included realized gain on coal swap of $3 million, increased by $30 million or 4%, as a result of an increase in sales volume of 0.87 million tonnes or 12%. Average cost of sales decreased by $3.68 per tonne or 5%, whereas average selling price decreased by $7.75 per tonne or 7% compared to 2Q23.
Sales from Power and Steam of $204 million or 16% of total revenue was from sales from CHP plants $31 million, solar power plants in China of $7 million, solar power plants in Australia of $3 million, wind power plant and solar power plant in Vietnam of $2 million and gas-fired power plants in USA of $161 million.
