BCPG Public Company Limited (BCPG) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;
BCPG reported a net profit of 354 million baht in 2Q20, decreased 23.51% from a net profit of 463 million baht in 2Q19. The decrease was mainly from a drop of recurring net profit and a booked FX loss from translation compared to FX gain in 2Q19.
In 2Q20, total revenue was at THB 969.6 million, increased by 14.4 % YoY due to the full-quartered revenue recognition of acquisition projects, hydropower plants in Lao PDR, between the period including the acquisition of “Nam San 3A” in September 2019 and the acquisition of “Nam San B” in February 2020.
On a QoQ basis, total revenue was increased by 9.4%, mainly due to a gradually entering high season in late of 2Q20 and the first fully quarter revenue recognition from hydropower plant “Nam San 3B”.
In 2Q20, the group of companies booked FX losses of THB 98.4 million, mainly coming from different FX translation of THB loan under subsidiary “BCPG Indochina Co., Ltd” that used USD as a functional currency. Then a loss from translation occurred after strengthening of THB against foreign currency in 2Q20. While in 2Q19 and 1Q20, there were FX gains booked at THB 31.2 million and THB 325.1 million respectively.