CKPower Posts Continued Net Profit Growth for 1H 2025

Bangkok, August 8, 2025 – Mr. Thanawat Trivisvavet, Managing Director of CKPower Public Company Limited (SET: CKP), one of the region’s largest producers of electricity from renewables with one of the lowest carbon footprints, announced the operating results of the Company and its subsidiaries for Q2/2025 and the first half of 2025. CKPower reported the Core Net Profit of Baht 353.0 million in Q2 and Baht 416.3 million for the six-month period, representing increases of Baht 204.3 million or 137.4% year-over-year, and Baht 509.2 million or 548.1% year-over-year, respectively, marking continued operating performance growth from Q1/2025.

The improved results for Q2 and 1H 2025 were driven primarily by higher average water inflow to Xayaburi Hydroelectric Power Plant compared to the same period last year and lower financing costs at the Xayaburi Power Company Limited (XPCL) following global interest rate cuts. These have resulted in significantly higher share of profits from associate companies than the same period last year. Meanwhile, revenue from electricity sales at the Nam Ngum 2 Power Company Limited (NN2) decreased slightly in Q2 and 1H 2025 despite increased electricity sales volume, due to the Thai Baht appreciation affecting NN2’s tariff partially denominated in US dollar.

Mr. Thanawat stated that NN2 has cumulative water inflow in 1H 2025 of 1,315 million cubic meters, which was 45.2% higher than last year, resulted in higher electricity declaration in January to August of around 14.7%. At the same time, XPCL also experienced higher water flow YoY, which drove XPCL to operate on its full capacity since late June. In Q3, the expected seasonal rise in water inflow at both hydroelectric power plants, together with the reduced financing costs from policy interest rate cuts by the United States in late 2024 and Thailand in 1H 2025, would provide tailwind for CKPower’s performance during the 2H 2025. As for the Luang Prabang Hydroelectric Power Project (LPCL), construction progress reached 53% completion as of the end of June 2025, in line with plan.

CKPower also maintains a solid financial position. As of June 30, 2025, total assets increased by 4.7% from year-end 2024, mainly due to continued investment in LPCL and the strong 1H 2025 performance of XPCL, along with proceeds from the Company’s Baht 5 billion Green Debenture issuance in June 2025. The Net Interest-bearing Debt to Equity Ratio remained low at 0.56 times and the Interest Coverage Ratio stood at 6.11 times, underscoring robust financial strength and effective debt management.

“Over the years, CKPower has navigated challenges arising from natural conditions and global economic volatility affecting interest rates and natural gas prices. Through effective management, technology adoption, and our highly skilled workforce, CKPower has remained agile in adapting to changing circumstances. Moving forward, CKPower will continue to expand its renewable energy portfolio, focusing on both hydro and solar power, alongside innovations to improve energy efficiency and promote conservation across its value chain, reaffirming our commitment to achieving net-zero greenhouse gas emissions by 2050,” concluded Mr. Thanawat.

About CK Power Public Company Limited (CKPower):

CKPower engages in production and sales of electricity generated from three sources of energy under its 18 power plants with the total installed capacity of 3,640 MW, consisting of (1) three hydroelectric power plants: the Nam Ngum 2 Hydroelectric Power Plant with 615 MW installed capacity, operated by Nam Ngum 2 Power Company Limited (46% owned through its shareholding in SouthEast Asia Energy Limited), the Xayaburi Hydroelectric Power Plant with 1,285 MW installed capacity, operated by Xayaburi Power Company Limited (42.5% owned), and the Luang Prabang Hydropower Project with 1,460 MW installed capacity, operated by Luang Prabang Power Company Limited (LPCL) (50% owned); (2) two cogeneration power plants with 238 MW installed capacity, operated by Bangpa-in Cogeneration Limited (65% owned); and (3) 13 solar power plants, comprising 11 under Bangkhenchai Company Limited (100% owned) with total installed capacity of 28 MW, one under Nakhon Ratchasima Solar Company Limited (30% owned) with 6 MW installed capacity, and one under Chiangrai Solar Company Limited (30% owned) with 8 MW installed capacity.