Financial Highlights
Earnings Before Interest, Taxes,
Depreciation and Amortization
(EBITDA) 2
(Unit: Million Baht)
Net Profit Attributable to
Equity Holders of the Company
(Unit: Million Baht)
Financial Position
(Unit: Million Baht)
(Unit: Million Baht)
| CONSOLIDATED FINANCIAL STATEMENTS | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue from Sales of Electricity and Steam | 10,595 | 9,907 | 9,827 |
| Project Management Income | 309 | 379 | 385 |
| Other Income 1 | 514 | 655 | 577 |
| Total Revenues | 11,418 | 10,941 | 10,789 |
| Gross Profit | 2,341 | 2,681 | 3,344 |
| EBITDA 2 | 6,049 | 5,141 | 5,554 |
| Net Profit Attributable to Equity Holders of the Company | 2,436 | 1,462 | 1,345 |
| Earnings Per Share (Baht) 3 | 0.300 | 0.180 | 0.165 |
| Total Assets | 70,056 | 68,765 | 72,265 |
| Total Liabilities | 32,117 | 29,847 | 32,132 |
| Total Shareholders’ Equity | 37,939 | 38,918 | 40,133 |
| Gross Profit Margin (%) | 20.5% | 24.5% | 31.0% |
| EBITDA Margin (%) 2 | 53.0% | 47.0% | 51.5% |
| Net Profit Margin Attributable to Equity Holders of the Company (%) | 21.3% | 13.4% | 12.5% |
| Total Liabilities to Total Shareholders’ Equity Ratio (Times) | 0.85 | 0.77 | 0.80 |
| Net Interest-bearing Debt to Total Shareholders’ Equity Ratio (Times) | 0.59 | 0.53 | 0.52 |
| Current Ratio (Times) | 2.19 | 1.68 | 1.86 |
| Return on Equity (%) 4 | 9.5% | 5.4% | 4.9% |
| Return on Assets (%) 5 | 3.5% | 2.1% | 1.9% |
| Effective Tax Rate 6 | 1.6% | 4.4% | 4.6% |
Remarks:
1 Excluding foreign Exchange Gain
2 Including Share of Profit from Investments in Joint Ventures and Associates
3 Calculated from Weighted Average Number of Ordinary Shares
4 Calculated from Net Profit Attributable to Equity Holders of the Company divided by average Equity
5 Calculated from Net Profit Attributable to Equity Holders of the Company divided by average Assets
6 The Company’s Effective Tax Rate was lower than the normal 20% corporate income tax because certain power plants have tax incentives from the Thailand Board of Investment (BOI) and the power plants outside of Thailand have lower corporate income tax rates according to the concession agreements.