CKPower, a holding company, currently invests in companies that generate and distribute electricity in three types of power plants, namely:
- Hydro - Nam Ngum 2 Power Company Limited (NN2) via SouthEast Asia Energy Limited (SEAN), Xayaburi Power Company Limited (XPCL), and Luang Prabang Power Company Limited (LPCL)
- Cogeneration - Bangpa-in Cogeneration Limited (BIC)
- Solar - Bangkhenchai Company Limited (BKC), Chiangrai Solar Company Limited (CRS), and Nakhon Ratchasima Solar Company Limited (NRS)
NN2 is CKPower's core company.
| 3M24 | 3M23 | 2023 | 2022 |
|---|
| Revenues | 2,505.54 | 2,685.61 | 10,946.59 | 11,441.87 |
| Expenses | 2,034.88 | 2,324.66 | 8,723.27 | 9,602.65 |
| Net Profit (Loss) | -460.97 | -104.29 | 1,462.11 | 2,436.18 |
| Assets | 67,940.30 | 68,862.73 | 68,765.28 | 69,846.08 |
| Liabilities | 30,000.12 | 30,960.61 | 29,847.33 | 31,906.65 |
| Shareholders' Equity | 26,304.23 | 26,542.64 | 27,264.46 | 26,549.83 |
| Operating | 858.32 | 412.04 | 4,177.98 | 3,320.00 |
| Investing | -678.24 | -944.34 | -325.42 | -1,454.49 |
| Financing | -230.52 | -994.11 | -4,179.64 | -3,016.48 |
| EPS (Baht) | -0.06 | -0.01 | 0.18 | 0.30 |
| GP Margin (%) | 22.99 | 18.76 | 25.44 | 21.43 |
| NP Margin (%) | -15.01 | -2.95 | 17.62 | 24.87 |
| D/E Ratio (x) | 0.79 | 0.82 | 0.77 | 0.84 |
| ROE (%) | 4.18 | 8.89 | 5.43 | 9.48 |
| ROA (%) | 4.07 | 5.56 | 4.45 | 5.72 |
CKP's goal is to become one of the region's largest producers of electricity from renewables with one of the lowest carbon footprints in support of Thailand's effort to achieve Net Zero GHG Emissions. The company aims to increase its installed capacity from renewable energy to be at least 95% of the total installed capacity within 2043.
CKP strives to conduct business under the principle of corporate governance and create shared value for all stakeholders while considering its social and environmental responsibility for the best interests of all sectors. Its sustainable development plan covers all aspects of ESG:
- Environment - Clean Electricity
- Social - Kind Neighbor
- Governance - Partnership for Life
13 goals out of 17 goals of Sustainable Development Goals (SDGs) are embedded in the company's business operation. More information
- Total installed capacity of 3,633 MW
- Total equity capacity of 1,739 MW
- 93% of the total installed capacity is from renewable energy.
- 96% of the total installed capacity is sold to Thailand State Own Enterprises (EGAT and PEA).
In Q1 2024, CKP recognized Net Loss attributable to Equity holders of the Company of Baht 461.0 mn. Excluding the foreign exchange losses, which were non-cash items, CKP recognized a Core Net Loss of Baht 241.6 mn, an increase in loss of Baht 162.9 mn YoY, mainly due to the recognition of share of loss from investment in XPCL, driven by YoY lower electricity sales volume and higher finance cost following high global interest rate situation. More information
- TRIS Rating changed the company rating of CKP to “A-/Stable” and the issue rating for all CKP’s debentures to “BBB+/Stable”, which remain at the investment grade level. CKP continues to generate healthy EBITDA and cash flow.
- TRIS Rating changed NN2’s company and issue rating for all NN2’s debentures to “A-/Stable”, consistent with CKP’s credit rating revision due to NN2 is a core subsidiary of CKP. The standalone credit profile of NN2 continues to be rated at “a”.
- CKP issued Baht 4,000 mn unsecured, unsubordinated Debentures No. 1/2024 with a debentureholders’ representative, tenor of 2-5 years at the average interest rate of 4.1 per annum. The proceeds will be used to invest in the under-construction project and as working capital.
- The 2024 Annual Ordinary General Meeting of Shareholders approved the dividend payment from CKP’s operating results for the year 2023 of Baht 0.085 per share. The dividend will be paid on 23 May 2024.
More information
CKP gives priority to enterprise risk management of a variety of risk factors both internal and external in order to minimize the risk likelihood and impact on the company's operations to achieve its objectives and goals. CKP applies the principles of the COSO Enterprise Risk Management - Integrated Framework 2017 (COSO ERM 2017) as a framework for risk management and adopts risk management practices so that they are used as operational guidelines and defined Key Risk Indicator (KRI) for efficient and timely monitoring of risk management to ensure that efficient risk management generates the highest value for all stakeholders.
- Ranked AAA in SET ESG Rating 2023
- Received the Commended Sustainability Award from SET Awards 2023, organized by the Stock Exchange of Thailand
- Included in the ESG100 2023 by Thaipat Institute for the 2nd consecutive year
- Received The Asset ESG Corporate Awards 2023, Gold Level, and Best Initiative - Social Responsibility
- Listed in Thailand Sustainability Investment: THSI for the 4th consecutive year
- Received the "Excellent" CG score from the Corporate Governance Report of Thai Listed Companies for the 6th consecutive year
- Received the Asian Power Awards in 2020-2023 from the cogeneration power plant
- Awarded the ASEAN CG Scorecard (ACGS) for 2021 in the category of ASEAN Asset Class
| as of 29/03/24 | CKP | ENERG | SET |
|---|---|---|---|
| P/E (X) | 22.80 | 12.42 | 18.10 |
| P/BV (X) | 1.22 | 1.12 | 1.33 |
| Dividend yield (%) | 2.07 | 4.39 | 3.38 |
| 29/03/24 | 28/12/23 | 30/12/22 | |
|---|---|---|---|
| Market Cap (MB) | 33,330.47 | 26,501.79 | 37,069.99 |
| Price (B/Share) | 4.10 | 3.26 | 4.56 |
| P/E (X) | 22.80 | 26.74 | 14.91 |
| P/BV (X) | 1.22 | 1.01 | 1.45 |
