Energy Absolute Public Company Limited (EA) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:
EA earned a net profit of THB 1,210.72 million in the first quarter of 2019, decreased by THB 736.03 million or 37.81%, compared to the same period of last year at THB 1,946.75 million. EA stated that in 1Q18, there was a gain on business combination for a total of of THB 894.58 million from the investment in Amita from an associate company to be a subsidiary company. Thus, caused 1Q18 net profit to be higher than 1Q19.
Moreover, Tris Rating has upgraded EA from A- to AA with “Stable” outlook.