Stay tuned for the 1st quarter 2024 earnings announcement from securities analysts. It is expected that the main returns of the energy stocks will remain strong. If the effect of exchange rates is not included Ready to hope that the country’s electrical power development plan or PDP will prepare for a public hearing soon to show profits.BCPG Public Company Limited or BCPG shares Clearly restored, ready to chooseShares of Gulf Energy Development Public Company Limited or GULF Be the Best Choice
Securities analyst Maybank Securities (Thailand) Public Company Limited It is said in the analysis that the estimated core earnings of energy stocks in 1Q24 will come out strong. There is an increasing trend since the previous year. and from the previous quarter Excluding special items, especially unrealized gains (losses) from exchange rates Total core profit in 1Q24 is expected to be 8.3 billion baht, an increase of 12% from the previous year and 19% from the previous quarter.
which increased from the previous year This was from the expansion of GULF’s production capacity by 23% and EGCO’s profit share increased mainly from the Paju Es project and the NTPC project The profit increased from the previous quarter. This came from GPSC’s increased core profit, mainly from 5% higher electricity costs and low seasonal maintenance costs. And EGCO’s profit share increased mainly from Paju ES project and NTPC project.
It is believed that the government will publish a new PDP plan this year and from the investigation it was found that the new PDP draft will likely be open to public hearing soon 12.9 gigawatts and 27.8 gigawatts renewable energy generation capacity, by evaluating power generation capacity at back (excluding renewable energy) at 15% to ensure the stability of the domestic electrical system.
In addition, no new coal-fired power plants are expected to continue. and renewable energy will account for 50% of Thailand’s total generating capacity in 2037, which could be positive for power plant stocks to sell.
BCPG’s core earnings are expected to be the most outstanding among the energy stocks we study. It is expected to increase 53% from the same period last year and increase 533% from the previous quarter to 245 million baht, driven by the operating results of the full quarter. And it is the high season of the CCGT project (natural gas power plant using Combined Cycle Gas Turbine or CCGT technology) and supported by hydroelectric power plants operating for a full quarter.
However, keep a positive view on the energy business group. This is because policy risk is limited. From the expected price Natural gas will have a downward trend this year and will gradually decrease. A return to normal levels (levels before 2022), which will help to increase the profit margin of electricity producers in 2024-2025 In addition, a new PDP should be announced within this year, with GULF being a prominent stock in the group. Because it is believed that GULF will be the biggest beneficiary of the auction of conventional and renewable energy generation capacity in the future.
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