PTT Group Financial and Strategic Insights
ptt
NBI: Power - GPSC
QoQ: NI decreased due to higher fuel costs affected SPP's profit and lower XPCL's contribution
2021 vs 2020: Soften NI due to higher fuel costs and unplanned outages, despite better XPCL's performance
Sales Volume
Gross profit & Gross profit margin
30%
31%
26% Gross profit margin
Unit: Power: GWh / Steam: '000 Ton
Power
2%
Steam
9%
Power
14%
Steam
3% QoQ
19,667
20,148
Power
6%
YOY
13,871
15,090 Steam
4,984
5,295
3,7394,659 3,866
3,741
4Q20
3Q21
4Q21
Net Income
Unit: MMTHB
2020
2021
38% QoQ
20% YoY
3%
7,508
7,319
1,875
1,458
1,168
૨૦૨
27%
18%
20% QoQ
20% YoY
21,330
610
Unit: MMTHB
19,667 Gross profit
VSPP & others
8%
355
SPP
15,362
14,423
4,931
4,922
108
112
3,921
61
I
3,707
3,721
2,437
5,358
4,889 IPP
1,116
1,089
1,423
4Q20
3Q21
4Q21
2020
2021
- Lower gross profit
-
-
SPP: higher fuel costs, together with unplanned outage of Glow Energy Phase 5
+ IPP: higher AP mainly from GHECO-One
Lower shares of profit from Xayaburi Power Plant (XPCL) due to seasonality
+ Partial recognition of Glow Energy Phase 5 insurance claim
2021 vs 2020
Lower gross profit
SPP: higher fuel costs and unplanned outage of Glow Energy Phase 5
-
IPP: lower AP due to planned & unplanned outage of GHECO-One in 1Q21 - 3Q21
4Q20
3Q21
4Q21
2020
2021
+ Higher shares of profit from XPCL due to drought situation in 2020
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