CKP Posts a Profit Growth over 10 Times at ฿139M. as Nam Ngum 2 HPP Buoys the Revenue!

CK Power Public Company Limited (CKP) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

During the first quarter of 2019, CKP recorded a net profit of THB 139.4 million, an increase of THB 126.9 million or 1,013.8% compared to the same period last year, mainly driven by (1) an increase in Revenue from Sales of Electricity of Nam Ngum 2 Hydroelectric Power Plant, due to higher water level in the reservoir at the beginning of 2019 together with an increase in water inflow during the 1st quarter of 2019 by 110.3 million cubic meters or 30.5% compared to the same period last year, which resulted in an increased electricity sales volume and (2) an increase in electricity tariff by approximately 7.8% according to the Power Purchase Agreement (PPA) with Electricity Generating Authority of Thailand. The escalated tariff will be applied from 2019 until the end of the PPA.