BANPU announced a 12% better than expected 2Q09 earnings of Bt3,982mn (EPS Bt14.65), up 73% yoy (down 17% qoq). This was largely due to higher than expected earnings from the Chinese coal business (AACI) with Bt1,762mn, up 130% yoy, as Chinese coal demand remained strong. A resilient 2Q09 earnings were due to higher average sales prices by 10% yoy to $73.89/tonne (down from $84.2/tonne in 1Q09), strong earnings from BLCP (BANPU 50% owned) of Bt1,249mn, up by 122% yoy on an exchange gain of Bt268mn (up from an exchange loss of -Bt428mn in 1Q08), gains from coal and diesel swaps of Bt221mn and a 1.6% yoy (or 11% qoq) jump in sales volume to 4.51mn tonnes from the Indominco, Trubaindo and Jorong mines.
BANPU’s 2Q 2009 profit higher than anticipated
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The Thaivest Editorial Team is a dedicated group of writers and editors with a passion for Thailand's vibrant economy, culture, and lifestyle. With diverse backgrounds in finance, economics, and journalism, we provide valuable insights into living well in Thailand, making money online, and practical tools for navigating its dynamic market. Our mission is to keep our readers informed about the latest developments, opportunities, and challenges in Thailand's economic and cultural landscape. Stay connected with Thaivest for reliable, well-rounded coverage of all things Thai.
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