BJC Heavy Industries Public Company Limited (BJCHI) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;
BJCHI’s net profit in 3Q20 was negatively 119.1 million baht as compared with the positive figure in 3Q19 at 6.3 million baht. The net profit margin decreased from 1.5% in 3Q19 to negatively 25.1% in 3Q20, and Gross Profit was also negatively 115.2 million baht, equivalent to -27.6% in Gross Profit Margin as compared to Gross Profit at 55.3 million baht, equivalent to 13.5% in 3Q2019, as a result of the rising cost due to the suspended project and additional investment expense to accommodate the future projects.
As previously explained, the compensation as requested by the Company to the client shall be able to cover incurred costs. Thus, Gross Profit Margin and Net Profit are expected to recover in the near future.
In 3Q20, Contracted Revenue (excluding other revenue) was 417.6 million baht. Contracted Revenue slightly increased by 1.7%, compared with that of the same period of last year at 410.7 million baht due mainly to the progress of Koodaideri project activities which shall be also ramped up more in the next quarter. Other Revenue in 3Q20 (excluding FX gain) was 8.1 million baht, as compared to that in 3Q19 at 11.1 million baht due to the decrease in interest income.
In the end of 3Q20, the Company’s backlog was over 3,200 million baht, spreading throughout various industries such as Oil and Gas, Mining and Power plants.