CV announces its performance in the third quarter of 2022 with a total income of 555 million baht, supporting the performance for the first 9 months of 2022, earning 1,538 million baht, growing 44% and net profit attributable to the owners of the parent- company 42.6 million baht. moving forward Manage and manage expenses efficiently. Confident in this year’s performance, revenue will grow by 50-60% in response to demand for the production of biomass pellets (Wood Pellets) to speed up production efficiency. Supports year-end orders of more than 110-120 million baht
Setthasiri Saksitsereekul Mr. CEO, Clover Power Public Company Limited or CV, developer of small renewable energy projects Disclosing the operating results for the 3rd quarter of 2022 (July-September), the company had a total revenue of 555 million baht, growing 49% from the same period last year. with a total income of 371 million baht
Such success came from the engineering business group (EPC Turkey) which generated over 410 million baht, an increase of 79%, and revenue from electricity sales of 141 million baht, an increase of 13% compared to the same period last year. Although the net profit attributable to the parent company was 7.8 million baht.
Although the performance for the first 9 months of this year (January-September) with a total income of 1,538 million baht, an increase of 44% from the same period last year with a total income of 1,068.58 million baht, according to the growth of the group engineering business with an income of 984.73 million baht. , an increase of 55.39%, Production and distribution of electricity earned 415 million baht, growing 7% from the same period last year.
The net profit attributable to the owners of the parent company during the first nine months was 42.6 million baht, a decrease from the same period last year. Due to the increase in gas costs, production at the combined cycle power plant (SPP) in Saraburi had been shut down since the beginning of the year and the engineering business group had a lower gross margin.
Mr Setthasiri said the company was successful in driving revenue growth well. From the engineering business group and the electricity generation and distribution business But there is still a need to better manage the net profit, which we intend to manage and manage expenses. to be more efficient We believe that our performance will be excellent next year.
CEO CV expects the overall operation in 2022 to grow by at least 50-60%, with a focus on expanding all 3 business groups, namely 1.) Power Generation and Distribution Business Group which is in the process of preparing to apply for the government’s industrial waste power plant project at the end of this month Ready to wait for the power purchase agreement (PPA) for 3 community power plant projects with a total capacity of 19.8 MW plus the Energy Regulatory Commission (ERC) is expected to be signed in 2023, while the project’s power plant is in Japan Currently, it is in the process of studying the location to be suitable for business operations.
2.) Engineering Business (EPC Turkey) Currently, there is a backlog waiting to be recognized (Backlog) of approximately 2,182 million baht, which is expected to be recognized in 2023 at least 60-70% by preparing to sign contracts for new construction projects . More in Commercial and Residential groups to maintain backlog on hand to no less than 2,000 million baht by focusing on expanding project management efficiency to the prefab (Modular) construction business to deliver work faster and with a higher margin than EPC business
3.) Fuel Supply Business After investing in biomass pellet production (Wood Pellet) in Vietnam. positive factors were received from other types of fuel prices Increased, leading to a higher Wood Pellet price adjustment. Recently, it has started to recognize revenue from Wood Pellet sales of 40 million baht in October 2022. It is ready to plan to improve production efficiency and expand production capacity from 8,000 tons to 12,000 tons per month.
