Electricity Generating Public Company Limited (SET: EGCO) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss)
Million Baht |
2,463.00 | 2,373.00 |
| Earning Per Share
(Baht) |
4.6800 | 4.5100 |
| % Change | 4.00 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
5,518.00 | 5,855.00 |
| Earning Per Share (Baht) | 10.4800 | 11.1200 |
| % Change | -6.00 | |
EGCO reported a net profit in 3Q24 of THB 2,463 million, representing an increase of 4% compared to the same period last year. This was mainly from an increase in operating profit together with a recognized unrealized net gain from the change in the fair value of financial instruments.
Meanwhile, total revenue for the period stood at THB 12,354 million, showing a decrease of 11% compared to the same period last year.
The operating profit of EGCO Group for the 3-month period was THB 3,604 million, an increase of 8% compared to 3Q23, attributed to higher electricity sales volumes from Quezon, NT1PC and KLU, as well as increased revenue recognition from project sales by Apex. Additionally, there was an increase due to the acquisition of a 50% ownership interest in Compass Portfolio on January 9, 2024. However, Paju ES had lower electricity revenue, XPCL had lower electricity sales volumes and Solarco no longer received revenue from the subsidy of adders.
EGCO Group have invested in the Independent Power Producer (IPP), Overseas Power Producer (PP), Small Power Producer (SPP), Very Small Power Producer (VSPP), and Other Business (OTH) comprises Coal Mining, Oil Transportation Service with pipeline transportation system (Oil Pipeline), Operating and Maintenance (O&M), Management and Administrative Services (Management Services), Financial Technology (Fintech), Innovation Research (Innovation), Industrial Estate Project Development (IE), LNG Shipper Business (LNG Shipper), Integrated water production and Water treatment (Water supply facility), Integrated intermediary tank rental and jetty management service (Tank rental and Jetty service).
As of September 30, 2024, EGCO Group’s portfolio has a total capacity of 7,019 MW equity, consists of 43 domestic and overseas power plants, operating power plants, with a total capacity of 6,777 MW equity and construction projects, with a total capacity of 242 MW equity and there are 12 other related power businesses.
EGCO continues to pursue growth opportunities in the power and energy-related sectors, coupled with efficient portfolio management. EGCO also effectively manages investment risks by maintaining a diversified portfolio of power plants across various fuel types and countries, while consistently monitoring economic and industry conditions amid the global economic slowdown.
