Search
Close this search box.

RECENT POSTS

ADVERTISEMENT

Banpu reveals first quarter results of 2024, strictly controlling operational efficiency in all business groups.

Email
Print

Bangkok, Banpu reveals first quarter results of 2024, strictly controlling operational efficiency in all business groups, showing progress in CCUS and batteries. Ready to lay out a road map for sustainable growth Banpu Public Company Limited, an international diversified energy leader Revealing operating results for the first quarter of 2024, there was total sales revenue of 1,088 million US dollars (approximately 38,810 million baht), earnings before interest, taxes and depreciation (EBITDA) totaling 250 million US dollars (approximately 8,924 million baht) and profits. Net USD 43.5 million (approximately 1,552 million baht) In the past period, despite facing fluctuations in energy prices in the world market, the Company still managed its business and costs efficiently. can create a trend Continuously have cash Natural gas business Ready to move towards achieving the Net Zero goal at full speed, with a Carbon Capture, Utilization and Storage (CCUS) project in the United States set to begin operations this year. while the energy technology business group A battery factory in Thailand has started delivering batteries to customers in Thailand. Mr. Sinont Wongkusolkit, Chief Executive Officer of Banpu Public Company Limited, said, 'In the first quarter of 2024, the company continues to focus on increasing operational efficiency and tight cost management, elevating the operations of all groups. Business in 9 countries and increase the potential in resource management to Maintain the ability to create continuous cash flow. By the Energy Resources and Energy Production Business Group Focus on increasing efficiency and reducing costs in response to fluctuating energy prices. For the Energy Technology Business Group There is progress at a battery assembly factory in Thailand that has started delivering the first batch of batteries. In addition, it aims to manage its portfolio in line with the guidelines for reducing greenhouse gas emissions. Through appropriate investment budget allocation for sustainable growth. For the operating results of the 3 main business groups in the 1st quarter, the details are as follows. Energy Resources Business Group Regarding the mining business, the company hastened to implement various measures including controlling production costs. Improving efficiency in production and transportation That saves time and resources and reduces waste from the production process. and carry out marketing strategies In order to get product quality that meets customer needs. As a result, it continues to generate strong cash flow. Natural gas business: The Company continues to use financial instruments to hedge against risks from fluctuating natural gas prices. As for the Carbon Capture, Utilization and Storage (CCUS) project in the United States, To reach the goal of Net Zero in Scope 1 and 2 in 2025, the first project 'Barnett Zero' is operating continuously. The second project, 'Cotton Cove,' is set to begin operations by 2024. Each project has a maximum average carbon dioxide storage rate of 210,000 and 45, 000 tons of carbon dioxide equivalent per year, respectively. Energy production business group For the business of producing electricity from thermal energy Have operational results as targeted and Maintain continuous good efficiency in electricity production There is a positive factor from the growth in demand for electricity in every region around the world. Especially from thermal power plants that are stable and create stability in the electricity distribution system to support demand during periods of fluctuating weather conditions. There is also growth in the use of AI and data center businesses in various countries, with renewable energy power generation businesses in China, Japan, Vietnam and Australia. Still reporting good operating results Generate consistent cash flow Even this quarter experiences adverse weather conditions which are seasonal. Energy Technology Business Group It has continued strong growth. By focusing on expanding the customer base and investing with new partners in the battery and energy storage system solutions (BESS) business, a lithium-ion battery production plant under the cooperation between Banpu Nex and S.V. Energy Technology (Thailand) has opened commercial operations. and delivered more than 20,000 sets of batteries to customers in Thailand, with a total production target of 60,000 sets per year, along with signing a memorandum of understanding on cooperation to establish a factory and develop industries related to energy storage. battery cells and battery recycling at the DP Nex battery assembly plant, a joint venture of Banpu Nex and Dura Power. The first batch of batteries can now be delivered to Cherdchai Motor Sales for use in electric buses as well. with a target total production capacity of 1 gigawatt hour. In addition, this quarter there will be the launch of the second phase of the 'Infinite Cafe Powered by Banpu NEXT' project at Chamchuri Square. In the form of a pop-up cafe that has a solar rooftop system that produces electricity with built-in electricity stora ge batteries. It offers clean energy solutions that are in line with people's lifestyles. To expand to various service business customers in the project to manage the central cooling production system (District Cooling System), Chalerm Phrakiat Government Center, Zone C, is expected to be fully operational in the 4th quarter of this year. From the outstanding management and development of human resources in recent times As a result, Banpu received 3 awards from the Employee Experience Awards 2024 organized by Human Resources Online, Singapore, in the Best Management Training Program (Silver) category, Best Holistic Leadership Development Strategy (Silver) and Best Executive Coaching Program ( Bronze level) reflects Banpu's commitment to being a Lifelong Learning Organization and awareness of the importance of human resources as the company's most valuable asset. Banpu continues to grow its energy portfolio. By aiming to continue the roadmap of the mission of transitioning to sustainable energy (Sustainable Energy Transition), something that I give importance to. is to create stronger cash flow From the full efficiency of various assets in all business groups of the company. By focusing on bringing in digital technology and AI to support maximum benefit. Along with expanding opportunities to increase income by choosing investments that will give high returns. By combining strengths in both existing businesses and new businesses with growth potential, whether in the energy sector or related industries. At the same time, we are accelerating the reduction of carbon dioxide emissions from business operations in order to drive a low-carbon society. We believe in creating continuous business growth in every dimension of Banpu. Along with aiming to achieve sustainability goals in terms of environment, society and corporate governance in every business process. It will truly create value for shareholders and all groups of stakeholders. Source: Thai News Agency