BCPG and its subsidiaries announced their operating results in Q1/2018 with a total revenue of 802 million Baht, 2.6% increase from Q4/2017 and 0.4% increase from the same period in the previous year. The Company’s net profit was approximately 351 million Baht, which was affected by foreign exchange volatility, causing loss of 13 million Baht.

Mr. Bundit Sapianchai, BCPG President and CEO, said that in Q1/2018, the operations of both domestic and overseas solar power plants brought the Company a total revenue of  approximately 802 million Baht, 2.6% increase from Q4/2017. Compared with the revenue in Q1/2017, the increase of Q1/2018’s revenue was 0.4%, this was due to frequent rains in Thailand and heavy snowfall in Japan, together with foreign exchange volatility of Thai Baht against Japanese Yen, resulting in a decrease in the Company’s revenue in Japan. The start of the commercial operation of Nagi power plant in March 2018; however, helped increase the Company’s Q1/2018 growth in Japan of 13.6%, a 9.0% increase from the previous quarter.     

The share of profit from the investments in wind power business in the Philippines and geothermal power business in Indonesia was 69 million Baht, resulting in profit before extraordinary items and foreign exchange, of 364 million Baht, a 7.6% decrease from the last year; nonetheless, 84.5% increase compared with the previous quarter.

In the first quarter of this year, the Company had a loss on foreign exchange of approximately 13 million Baht, resulting in a net profit of 351 million Baht, resulting from the depreciation of the Baht against the Yen. 

First quarter of 2018 saw the weaker of the Baht against the Yen, result in an increase in foreign-denominated debt causing loss of 12.8 million Baht.  Net profit for Q1/2018 was therefore approximately 351 million Baht.

At the end of Q1/2018, BCPG’s total assets were 32,452.32 million Baht, a 1.1% increase from Q4/2017, while there was a slight rise in the interest-bearing debt at approximately 17,032  million Baht (a total debt was approximately 17,748 million Baht or 0.1% increase), 0.02% increase from the end of the previous year. The Company’s debt to equity ratio was 1.21 times, a slight decrease of 1.23 times at the end of 2017.

In 2018; however, BCPG will forge ahead with growths from current and new businesses. Organic growth includes operations of solar power plants in Thailand and Japan, co-investment with alliances from several sectors, as well as participating in project developments in the Philippines and Indonesia. The inorganic growth such as the acquisition, joint ventures and new investments in diverse sources of renewable energy (wind power, hydro power, biomass power, etc.) are all included in the Company’s future plan.

In parallel with investments in green power plants, BCPG is also focusing more on retailing. Recently, the Company held a press visit to White Gum Valley project developed by Power Ledger and their partners in Fremantle, Western Australia.  It is among the world’s first trial projects for peer-to-peer energy trading using blockchain technology. Also, BCPG is now cooperating with Sansiri Plc., in developing a prototype project using blockchain technology through Power Ledger’s platform at Sansiri’s T77 where the electricity sales are expected to start soon.

Most recently, BCPG has been awarded “2018 Best Clean Energy Community Solutions – South East Asia” from the Capital Finance International Awards, which was held by Capital Finance, a leading financial magazine from the UK. The award indicates BCPG’s leadership in applying innovation to electricity generation from clean energy, allowing consumers to produce and sell their own energy in an afforable way and supporting sustainable development initiatives.