Banpu (BANPU) Q1 2025 earnings summary

Executive summary

• Interim consolidated and separate financial statements for the three months ended 31 March 2025 were reviewed and found to be prepared in accordance with Thai Accounting Standard 34, with no material misstatements identified.

Financial highlights

• Consolidated sales and service income reached $1,283.6 million, up from $1,133.5 million year-over-year.

• Gross profit increased to $283.9 million from $235.6 million year-over-year.

• Net loss attributable to owners was $14.2 million, compared to a profit of $43.5 million in the prior year.

• Basic loss per share was $0.001 (Baht 0.048), compared to earnings per share of $0.004 (Baht 0.155) year-over-year.

• Cash and cash equivalents at period end were $1,511.7 million, down from $1,595.6 million at year-end 2024.

Outlook and guidance

• The Group continues to focus on its three core business segments: energy resources, energy generation, and energy technology, with operations in Thailand and internationally.

• Recent joint venture in the US for Carbon Capture, Utilisation, and Sequestration (CCUS) with a potential capital commitment up to $1 billion.