By THE NATION
A leading integrated energy solution company in Asia-Pacific, Banpu saw $310 million in EBITDA (earnings before interest, tax, depreciation and amortisation), an increase of 18 per cent compared to the same period last year
It reported net profit of $76 million. The operating profit, excluding foreign-exchange loss, was $100 million, a 15-per-cent bump from the previous quarter. This is due to consistent demand for coal in the market given the tight supply in the last quarter, which resulted in a significant increase in the company’s average selling price of coal.
Banpu is also moving forward, applying a “greener and smarter” strategy and diversifying the company portfolio to ensure that it will be able to provide an integrated energy solution for all.
Somruedee Chaimongkol, chief executive officer of Banpu Public Co Ltd, said: “Banpu has reported a strong operating result for the third quarter. We have seen growth in all key business units. The coal business delivered higher sales volume, which enabled the business unit to capitalise on the robust coal prices. The power business demonstrated high power-plant efficiency at Hongsa and BLCP. Lastly the gas business reported a strong rise in earnings due to higher gas prices in the US market.”
He said Banpu would continue its mission to be a leading integrated energy solutions company in the region by showcasing its presence in Vietnam and the company’s integration covering upstream, midstream and downstream.
That approach will create maximum benefits for the company throughout the value chain, so as to respond to the continuous increase in energy demands in Vietnam, said Somruedee.
Banpu was recently awarded a contract with Vietnam Electricity (EVN), to supply 1.3 million tonnes of coal. It also established the first crossed-BU office in Ho Chi Minh City to help in future business development.
The company is able to meet various types of demand in Vietnam’s market, said Somruedee, due to its strengths in providing and transporting high quality and customised coal to customers via strong business partnerships and network.
Banpu’s power business is moving its 200MW wind-power plant project forward in Soc Trang, Vietnam. The project is targeted to begin commercial operations by 2021. Banpu’s power business is also exploring further opportunities in conventional power plant and renewable businesses in Vietnam, following the company’s “greener and smarter” core strategy.
“As a leading energy company in the Asia-Pacific, Banpu is committed to sustainable energy management by balancing conventional and renewable energy businesses,” he said.
That balance “will empower Banpu to deliver energy that is affordable, reliable and environmentally friendly to continuously meet the energy demands of consumers, communities and societies, while also creating sustainable value to all stakeholders. This is in line with our brand promise ‘Our Way in Energy’,” Somruedee said.