Bangkok Expressway and Metro Public Company Limit (SET: BEM) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
1,066.94 | 969.87 |
| Earning Per Share (Baht) |
0.0700 | 0.0600 |
| % Change | 10.01 | |
| 9 Months | 9M24 | 9M23 |
| Net Profit (Loss) Million Baht |
2,917.25 | 2,619.71 |
| Earning Per Share (Baht) | 0.19 | 0.17 |
| % Change | 11.36 | |
BEM reported a net profit of Baht 1,067 million in 3Q24, representing an increase of Baht 97 million or 10% from the same quarter of the previous year. This was due to an increase in revenues from all three businesses, consisting of expressway, rail, and commercial development businesses, especially increasing in farebox driven by a rise in ridership volume and fare rate adjustment in accordance with the concession agreement since July 3, 2024.
Service revenues were Baht 4,365 million, an increase of Baht 183 million or 4% from the same quarter of the previous year. Service revenues has been continuously growing, primarily due to the growth in farebox revenue from the MRT Blue Line project, which rose in line with the increase in ridership volume. Currently, average working day ridership already exceeds 500,000 trips per day.
Meanwhile, the expressway business revenue was Baht 2,275 million, an increase of Baht 23 million or 1% from the same quarter of the previous year. Average traffic volume in this quarter was 1.12 million trips per day, a slight increase compared to the same quarter of the previous year.
Rail business revenue was Baht 1,782 million, an increase of Baht 131 million or 8% from the same quarter of the previous year.
Commercial development business revenue was Baht 308 million, an increase of Baht 29 million or 10% from the same quarter of the previous year. The increase was mainly due to an increase in advertising and Metro Mall rental revenues.
Cost of services including selling and administrative expenses amounted to Baht 2,737 million, increased by Baht 49 million or 2%, and finance cost was Baht 596 million, increased by Baht 26 million or 5%.
