Mr. Thanachai Bunditworapoom Chief Executive Officer Absolute Clean Energy Public Company Limited (ACE) revealed that operating results for the third quarter of 2020 had sales and service income of 1,183 million baht, an increase of 3.5% from the same period last year and increased. Up 3.8% from 2Q20, while net profit 410 million baht, an 80% increase from the same period last year and a 64% increase from 2Q20. Core profit is 375 million baht. Up 60% from the same period last year and a 6% increase from 2Q20
As for the other 2 biomass power plants that were purchased together, Since receiving the transfer to not start the machine Since it is still in the slotxo process of upgrading the machinery to increase production efficiency according to the plan, since the decision to buy the business. It is expected that the renovation will be completed and the power distribution will begin within the fourth quarter of this year.
In August 2020, ACE acquired 3 biomass power plants that have been commercially operated from Ua Withya Public Company Limited (UWC), one of which is a biomass power plant located in Nakhon Ratchasima Province and Located in Buriram Province, 2 projects with a total installed capacity of 26.9 megawatts, with a power purchase agreement with the Provincial Electricity Authority of 22.5 megawatts
Mr Thanachai said that the 4Q20 performance trend is expected both sales and service income. Net profit includes net profit from normal activities. The trend is still as good as Q3 / 2020, with the performance of new power plants. To help support the earnings growth even more, including revenue recognition of 3 biomass power plants purchased from UWC, in which the biomass power plant in Nakhon Ratchasima will recognize the full quarterly revenue. It will also begin to recognize revenue from two biomass power plants in Buriram Province.
Including the community waste power plant in Krabi Province Which is under construction Originally it was expected to start commercial operation (COD) in 1Q21, but recently the construction has progressed much further than planned, so there is a chance to COD within this year. Hold 1 quarter faster than the original plan
As a result of the 9-month net profit figure of this year, ACE has achieved more than 1,254 million baht, higher than the full year '19 net profit of 815 million baht, so it is estimated that in this year, ACE net profit will grow significantly.
