CKPower Reports 326 Million Baht Profit in First Half
CKPower reported 326 million baht in first-half profit, down 22% year-on-year due to lower electricity sales at domestic plants, though strong performance from its Laotian hydropower venture offset the decline. The company is developing a w
CKPower Develops Water Forecasting System to Counter El Niño Trend
Thanawat Triwiswawet, Managing Director of CK Power Public Company Limited (CKP), announced the company's operating results for Q2 2025 and the first half of 2025. CKPower recorded net operating profits of 210 million baht in Q2 and 326 million baht in the first half, representing a 40% and 22% decline respectively compared to the same periods last year. The decline was primarily attributed to reduced electricity sales revenue from Bangpain Cogeneration (BIC) and Num Electricity 2 (NN2), coupled with higher fuel costs at BIC in Q2. However, the company's share of net operating profits from XPCL totaled 318 million and 517 million baht in Q2 and the first half respectively, up 49% and 134% year-on-year. This growth was driven by increased water flow through the Sayaboury hydropower plant, which boosted electricity sales, and lower financing costs from ongoing loan repayments and reduced interest rates. XPCL's strong performance helped offset the declining results from NN2 and BIC, and supported CKP's overall operations.
Regarding water conditions at the end of June 2025, the Num Electricity 2 hydropower plant's reservoir level stood at 355 meters above mean sea level, comparable to the same period last year despite lower inflow. The average water flow through the Sayaboury hydropower plant remained 15% higher than the previous year. Weather forecasts indicate potential El Niño conditions in the second half of 2025. To prepare, the company is developing a Hydrometeorological Monitoring and Forecasting System to enhance efficiency and accuracy in forecasting power generation capacity for its hydropower plants.
For the Luang Prabang hydropower project, construction progress reached 77% as of end-June 2025, on schedule. The Feed-in Tariff renewable energy project under Bangkhenchai Company (BKC), with a 6-megawatt installed capacity under a power purchase agreement with the Provincial Electricity Authority (PEA), has commenced construction with commercial operations targeted for 2026 under a 25-year contract.
Financial position as of 30 June 2025 shows the company maintaining a liquidity ratio of 2.49 times and a net interest-bearing debt-to-equity ratio of 0.52 times, indicating appropriate liquidity management and debt repayment capacity. Lower average interest rate trends compared to last year are expected to reduce XPCL's financing costs and support operations in the second half of 2025. The company continues to monitor interest rate trends and manage its long-term debt structure accordingly.
