BCPG and its subsidiaries announced their operating results in Q3/2018 with a total net profit of 1,139 million Baht, an increase of over 900 Million Baht compared with the previous year. The main contributor was the profit from asset transaction to an Infrastructure Fund in Japan, approximately 658 Million Baht after corporate tax deduction. In addition, cost control and good investment return resulted in an increase of profit of 344 Million Baht compared with last year.

Mr. Bundit Sapianchai, BCPG President, said that in Q3/2018, the Company had completed the asset transaction for two solar power plants in Japan - Nikaho Project and Nagi Project - with a total production capacity of 27.6 MW to the newly founded Infrastructure Fund in Japan, Bangchak Solar yield-co Godo Kaisha, which has no connection with BCPG and its subsidiaries in terms of investment or co-management. The transaction value was 11,500 million Japanese Yen (JPY) (or equivalent to 3,372 million Baht), and after the deduction of relevant expenses, the Company’s net cash inflow was 10,388 million (or equivalent to 3,046 million Baht). (exchange rate of Baht per Yen at 0.29323)

Following the asset transaction, BCPG Engineering, an affiliate of BCPG, has signed a five-year Operation and Maintenance contract for the two solar projects.

The asset transaction was in line with BCPG’s strategy to maximize benefits for shareholders by seeking ways to gain more cash for the new growth plans both domestically and internationally.

The Company’s business performance on solar operation both in Thailand and Japan has continued to grow with the EBITDA of approximately 634 million Baht, about 4% increase from the last year.  Wind power business in the Philippines significantly improved from the previous quarter, while stable operation in geothermal power business in Indonesia, which was able to recognize the net profit of this quarter in full, resulted in the gaining of share of profits from both businesses at approximately 222 million Baht, about 83% increase from the previous year, with the total EBITDA of approximately 856 million Baht, about 17% increase from the year before.  The Company’s net profit, excluding the profit from asset transaction and extraordinary items, was approximately 412 million Baht, about 14% increase from the last year.

“Apart from business performance, recently BCPG was appraised “Excellent”  from  the 2018 Corporate Governance Report of Thai Listed Companies (CGR), conducted by the Thai Institute of Directors (IOD) for the first time. Moreover, the Company’s P2P electricity trading pilot project at T77 was raked in top 10 energy and blockchain projects in Asia by Solar Plaza, a group of international professionals whose aim is to positively impact the world by accelerating the sustainable energy transition. Both are very good news indeed.”, said Mr. Bundit.