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.
| 3M25 | 3M24 | 2024 | 2023 |
|---|
| Revenues | 2,411.23 | 2,505.54 | 10,788.85 | 10,946.59 |
| Expenses | 1,924.10 | 2,034.88 | 7,910.02 | 8,723.27 |
| Net Profit (Loss) | 70.47 | -460.97 | 1,344.54 | 1,462.11 |
| Assets | 71,230.39 | 67,940.30 | 72,264.77 | 68,765.28 |
| Liabilities | 31,088.93 | 30,000.12 | 32,131.57 | 29,847.33 |
| Shareholders' Equity | 28,093.32 | 26,304.23 | 28,056.54 | 27,264.46 |
| Operating | 1,060.91 | 858.32 | 4,276.44 | 4,177.98 |
| Investing | -939.45 | -678.24 | -1,256.14 | -325.42 |
| Financing | -1,458.84 | -230.52 | -74.48 | -4,179.64 |
| EPS (Baht) | 0.01 | -0.06 | 0.17 | 0.18 |
| GP Margin (%) | 25.18 | 22.99 | 31.91 | 25.44 |
| NP Margin (%) | 7.49 | -15.01 | 20.57 | 17.62 |
| D/E Ratio (x) | 0.77 | 0.79 | 0.80 | 0.77 |
| ROE (%) | 6.90 | 4.18 | 4.86 | 5.43 |
| ROA (%) | 5.86 | 4.07 | 4.95 | 4.45 |
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 3,640 MW
- Total equity capacity of 1,746 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).
The Company reported a Q1 2025 Core Net Profit of Baht 63.4 million, representing a YoY increase of Baht 305.0 million. The improvement was mainly driven by a YoY increase in share of core net profit from the investment in XPCL following higher electricity sales volume and the YoY increase in electricity sales of NN2. More information
- TRIS Rating upgraded the issue rating for all CKP's debentures to “A-” with Stable outlook and affirmed CKP’s company rating at “A-” with Stable outlook. The rating upgrade reflects the gradual low structural subordination risk of the Company.
- TRIS Rating affirmed the company rating and the issue rating for all NN2's debentures at “A-” with Stable outlook. The Stand-alone Credit Profile rating of NN2 remains at “a”.
- The 2025 Annual Ordinary General Meeting of Shareholders approved a dividend payment from the Company’s 2024 operating results of Baht 0.085 per share, totaling approximately Baht 691.0 million. The dividend will be paid on 23 May 2025.
- As at the end of March 2025, the construction progress of solar power projects to produce and sell electricity to Bangkok Expressway and Metro Public Company Limited (BEM) was on schedule at 86%. The projects are expected to begin commercial operations within Q2 2025.
- At the end of March 2025, construction progress of the Luang Prabang Hydroelectric Power Project had reached 48%, in line with the project timeline. The project's commercial operation date was scheduled for early 2030.
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.
- Received the "Excellent" CG score from the Corporate Governance Report of Thai Listed Companies for the 7th consecutive year
- Included in the ESG100 2024 by Thaipat Institute for the 3rd consecutive year
- Ranked AAA in SET ESG Rating 2024 for the 2nd consecutive year
- Received the Commended Sustainability Award from SET Awards 2023, organized by the Stock Exchange of Thailand
- Received The Asset ESG Corporate Awards 2023, Gold Level, and Best Initiative - Social Responsibility
- Awarded the ASEAN CG Scorecard (ACGS) for 2021 in the category of ASEAN Asset Class
| as of 31/03/25 | CKP | ENERG | SET |
|---|---|---|---|
| P/E (X) | 14.99 | 11.85 | 15.78 |
| P/BV (X) | 0.72 | 0.88 | 1.10 |
| Dividend yield (%) | 3.43 | 5.43 | 4.37 |
| 31/03/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 20,160.87 | 26,014.02 | 26,501.79 |
| Price (B/Share) | 2.48 | 3.20 | 3.26 |
| P/E (X) | 14.99 | 19.32 | 26.74 |
| P/BV (X) | 0.72 | 0.94 | 1.01 |
