Stock/Banpu

Editorial Team

Banpu announced a robust performance in Q3

Banpu Public Company Limited, a leading international versatile energy provider, announced a strong business performance in the third quarter of 2022 with constantly growing cash flow and profit.

The sales revenue totaled US$ 2.39 billion (approximately 87.27 billion baht), an increase of 106% from the same period last year.

Earnings before interest, tax, depreciation, and amortization (EBITDA) totaled US$ 1.35 billion (approximately 49.16 billion baht), an increase of 155% from the same period last year.

The company recorded a net profit of US$ 487 million (approximately 17.74 billion baht), an increase of 360% compared to the same period last year. The robust result was driven by constantly increasing energy demand in light of the tight supply, as well as the company’s continued expansion of its cleaner energy and energy technology portfolio to achieve the goal of delivering ‘Smarter Energy for the Future’.

Mrs. Somruedee Chaimongkol, chief executive officer of Banpu Public Company Limited

Mrs. Somruedee Chaimongkol, chief executive officer of Banpu Public Company Limited, said that the business performance in the third quarter of 2022 has seen a robust growth thanks to continued strong energy demand along with rising energy prices as well as a significant increase of revenue contribution from our expansion of the cleaner energy and energy technology portfolio in accordance with the Greener & Smarter strategy, and investment in new s-curve businesses encompassing energy-related, beyond energy and tech enabler ventures.
Major strategic moves during the period include Banpu NEXT’s acquisition of 25% interest in Altotech Global Co., Ltd, a developer of IoT platforms to support energy management in office buildings and hotels, and clean energy technology solutions.

In this period Banpu Next also invested in Eurazeo’sSmart City Fund II, which focuses on digital innovation for new energy and industrial technology.
The company have also made progress on long-standing adherence to ESG practices by winning the Sustainability Awards of Honor from the SET Awards 2022 for the 5thconsecutive year.
Business highlights in Q32022 of Banpu’s three core groups of businesses are as follows:
Energy Resources – Mining businesses continued to seek opportunity and generate increased income due to high global coal prices, while the gas business saw continued growth momentum due to rising demand for natural gas and high price level. In addition, in Q3 of 2022, the company began recognizing the revenue from the acquisition of natural gas and midstream assets in the Barnett Shale from XTO.
Energy Generation – thermal power generation business maintained electricity production and distribution efficiency, especially at BLCP power plant in Thailand, HPC power plant in Laos, and Temple I power plant in the US.

The renewable power generation business has now reached renewables equity capacity of 1,003 MW.

Energy technology – continued to accelerate the expansion of product and service offerings to enhance Banpu Ecosystem. Major business highlights include the 58 MW solar rooftop project development in Zhengding, China, to which Banpu was selected by the local government to operate and is currently underway, with the potential to increase to 167 MW by 2023.

Other highlights include the acquisition of 25% stake interest in Altotech Global Co., Ltd, a developer of automatic IoT platforms to support energy management and optimization in office buildings and hotels, and the US$ 15-million investment in Smart City Fund II from Eurazeo, a leading global private equity company with a focus on new energy, smart mobility, and industrial technology.