investor route
A leading listed company that does not disappoint investors in terms of performance and dividend payout. must be given to the company Gulf Energy Development Public Company Limited or GULF which shows the net profit for the year 2022 as high as 11,417.56 million baht, an increase of 37% from the year 2021 with a net profit of 7,670.29 million baht
while it had a total income of 101,397 million baht, an increase of 92% from 52,870 million baht, incl.It also pays dividends at a high rate. 151% at 0.60 baht per share for the periodyear 2022, which will post the XD signal on March 1 and determine the dividend payment on April 27, 2023.
Only in the fourth quarter of 2022 GULF Operating profit was 3,593 million baht, an increase of 32% from the same quarter last year. and had a net profit of 5,406 million baht, an increase of 78% from 3,043 million baht.
The driving force comes from the opening of commercial operations (COD). power plant project GSRC Units 3 and 4 with a combined electrical capacity of 1,325 megawatts in March and October 2022, supporting all 4 power generation units to be fully operational as planned.
Including the sale of shares in BKR2 Holding, a 50.01% stake in a wind power plant in Germany, to the Keppel Group, receiving a full profit of 381 million baht.
Outstanding annual budget receives meritfromnatural gas power plant project DIPWP In Oman, COD increased by 155 megawatts, a total of 195 megawatts, and also recognized profit sharing from 3 wind energy projects under the Gulf Gunkul Corporation group that invested in July 2022 in the amount of 324 million baht in total by Intouch Holdings Plc. ( INTUCH) and proceeds from the purchase of Thaicom Plc (THCOM) totaling 4,656 million baht.
There is an effectedgedecreased to 20.6% from 27.6% in the previous year because the average cost of natural gas increased by 86%, but the Ft only increased by 0.5518 baht / kWh on average. but transfer such costs toElectricity Generating Authority of Thailand (EGAT) can
And accounting records are just the effect of exchange rates. It has no impact on GULF’s cash flow and performance.
Last year, although GULF reached a new peak, this year the challenge is more serious. According to the target that the total revenue will grow by 50% under the phased COD of the 2nd IPP power plant project, namely GPD Units 1 and 2, totaling 1,325 MW, and Jackson Generation Power Plant in the United States, totaling 1,200 MW.
From now on, GULF will focus more on investing in renewable energy businesses. Aim to reduce net zero greenhouse gas emissions (Net-Zero Greenhouse Gas Emissions), thereby increasing the share of renewable energy from 9% to 40% within the next 10 years.
o dam power plant project development Domestic renewable energy power plant projects Solar Rooftop power plant projects and investments in solar and wind power plant projects in foreign countries such as England, Europe and the United States, including signing a power purchase agreement with EGAT for a project Pak Dam Power Plant Bang Bang and Pak Lay Dam within the first quarter of this year.
Business department at GULF Expand investments such as digital asset trading hubs.in Thailand which has jointly invested with Binance to operate the business of an asset trading center and stock brokers The license is also expected to be received within the first quarter of this year.
While the data center business (data center) jointly invested with Singtel and Advanced Info Service Public Company Limited (ADVANC) will start construction in the middle of this year. It is expected to open for business in 2025 and is still studying the virtual banking business to expand the digital infrastructure business as well.
Brokers like Bualuang Securities recommend “buy”, considering that GULF remains good in the first quarter of this year from core revenue growth Supported by the profits of natural gas power plants in the United States. and higher electricity prices in Thailand
Therefore, the 2023 core profit forecast has been revised to 16,409 million baht, an increase of 36% from the previous year, but the year-end target price remains unchanged at 68 baht. GULF is becoming the largest infrastructure player in Thailand and ASEAN. In the port there is an infrastructure business across the earth. namely electricity generation, marine, namely investments in ports and LNG stations, as well as space, namely satellites.
Although the profit trend will grow at a compound average rate of 2 digits for the next 10 years and there is a power purchase agreement to support it. but continues to expand the business vigorously
GULF is listed as a listed company with strong fundamentals. and the size of the earnings forecast. This reflects that the GULF market cap could reach 1 trillion baht in the next few years.
