BCPG Reports Q1 Net Profit Surge of 373.5% Driven by Foreign Investment Portfolio
BCPG's Q1 net profit surged 373.5% to 722.3 million baht, boosted by gains from US natural gas plants and a Laotian wind farm that started operations last year.
Ravi Bunyasinsouk, President and Chief Executive Officer of BCPG Public Company Limited, announced that first-quarter 2025 operating results showed net profit of 722.3 million baht, up 373.5% year-over-year, with total revenue of 1,098.7 million baht, representing a 50.3% increase.
The growth was driven by profit sharing from natural gas power plants in the United States, which recognized higher capacity revenue, along with profit recognition from the monsoon wind farm project in Laos that began commercial operations in Q3 2024. Revenue increases were primarily attributed to recognition of district cooling system project revenue at its initial operation stage, involving asset transfers according to contract terms, along with corresponding cost of sales and services recognition.
"The operating results reflect a strong start to the year for the company, supported by our investment projects including natural gas power plants in the United States and the monsoon wind farm in Laos. We continue to expand our clean energy and infrastructure investments," Bunyasinsouk stated.
Recently, the company reached an agreement and took over assets for a rooftop solar power project with total capacity of 17.5 megawatts to support electricity sales under a private power purchase agreement (Private PPA), which will increase recurring revenue proportion and strengthen competitive capabilities. The company remains focused on efficient project portfolio management to ensure stable long-term cash flow.
