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Energy Minerals

Banpu Public Co. Ltd.

Company Background

Banpu is one of the largest coal miners in Southeast Asia. It owns stakes in more than 20 coal assets around the world, including Indonesia, Australia, Mongolia and China. Its coal mining operations in Thailand have been closed due to depletion. It has diversified into coal-fired power generation since 1993 and operates power plants in and outside of Thailand. It is expecting to start operations of the Hongsa power plant in Laos in 2015, through a joint venture with independent power producer Ratchaburi Electricity Generating Holding and Lao Holding State Enterprise.

CEO Chanin Vongkusolkit founded Banpu in 1983 as a coal-mining venture in Thailand with the Auapinyakul family. Chanin is the youngest son of the Vongkusolkit family that runs Thailand's largest sugar producer, Mitr Phol Sugar. He decided to start a different business of his own. Banpu was listed on the Thai bourse in 1989. Mitr Phol is its second-largest shareholder with a more than 5% stake.

Banpu controls a roughly 15% stake in Ratchaburi Electricity Generating Holding, which was spun off from state-owned electricity giant Electricity Generating Authority of Thailand.

Business Summary

Banpu Public Co. Ltd. engages in the generation and distribution of electric energy. Its projects include coal mining operations, power generation, and alternative energy production. The company was founded Metee Auapinyakul and Ongart Auapinyakul on May 16, 1983 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2021 THBUSD
Revenue133,190.08M4,160.07M
Gross Profit56,273.99M1,757.67M
Operating income40,981.43M1,280.02M
Income before tax15,054.27M470.20M
Net income9,851.79M307.71M
EBITDA69,297.50M2,164.44M
Diluted EPS1.490.04
Dividends Per Share0.450.01
Total Assets365,799.39M10,950.43M
Total liabilities262,102.26M7,846.19M
Total equity79,277.25M2,373.21M
Operating cash flow27,569.74M861.11M
Currency in THBCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 97,323.75M 112,770.51M 85,717.84M 71,331.75M 133,190.08M
Gross Profit 37,531.39M 39,809.64M 21,981.11M 14,342.13M 56,273.99M
Operating income 24,791.68M 26,250.34M 8,395.98M 2,922.99M 40,981.43M
Income before tax 9,173.97M 7,846.07M -2,499.04M -4,538.36M 15,054.27M
Net income 7,900.24M 6,693.73M -395.26M -1,786.31M 9,851.79M
EBITDA 52,662.10M 55,620.95M 40,086.24M 29,398.12M 69,297.50M
Diluted EPS 1.29 1.09 -0.06 -0.29 1.49
Dividends Per Share 0.54 0.58 0.50 0.25 0.45
Total Assets 268,751.36M 274,317.39M 243,312.10M 281,647.62M 365,799.39M
Total liabilities 163,822.09M 171,304.58M 163,858.84M 197,092.36M 262,102.26M
Total equity 85,314.88M 83,060.46M 61,166.99M 62,343.95M 79,277.25M
Operating cash flow 12,117.52M 18,523.07M 17,028.43M 8,513.91M 27,569.74M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 2,868.07M 3,488.40M 2,761.10M 2,279.32M 4,160.07M
Gross Profit 1,106.02M 1,231.45M 708.04M 458.28M 1,757.67M
Operating income 730.59M 812.01M 270.44M 93.40M 1,280.02M
Income before tax 270.35M 242.70M -80.49M -145.01M 470.20M
Net income 232.81M 207.06M -12.73M -57.07M 307.71M
EBITDA 1,551.91M 1,720.55M 1,291.23M 939.38M 2,164.44M
Diluted EPS 0.03 0.03 -0.00 -0.00 0.04
Dividends Per Share 0.01 0.01 0.01 0.00 0.01
Total Assets 8,246.43M 8,424.98M 8,122.92M 9,400.78M 10,950.43M
Total liabilities 5,026.75M 5,261.19M 5,470.39M 6,578.51M 7,846.19M
Total equity 2,617.82M 2,550.99M 2,042.04M 2,080.90M 2,373.21M
Operating cash flow 357.09M 572.98M 548.51M 272.05M 861.11M

Valuation Measures

Dec 2021
PER6.66
ROA3.04%
ROE13.91%
Operating margin30.76%
Profit margin7.39%

Key executives

  • Chairman & President: Chanin Vongkusolkit
  • Chief Executive Officer & Director: Somruedee Chaimongkol
  • Chief Operating Officer: Sutee Sukruan
  • Chief Financial Officer: Peter Parry
  • Deputy CEO-Strategy & Business Development: Akaraphong Dayananda

Shareholders

  • VONGKUSOLKIT FAMILY (7.1%)
  • Social Security Office of Thailand (2.1%)
  • TANGMATITHAM PRATEEP (1.4%)
  • Krungsri Asset Management Co., Ltd. (0.7%)
  • TISCO Asset Management Co., Ltd. (0.2%)
  • Polunin Capital Partners Ltd. (0.2%)
  • TMB Asset Management Co., Ltd. (0.1%)
  • Dimensional Fund Advisors Ltd. (0.0%)
  • Dimensional Fund Advisors LP (0.0%)
  • Aberdeen Asset Investments Ltd. (0.0%)

Contact Details

  • Website:http://www.banpu.com
  • Address: Thanapoom Tower, 1550 New Petchburi Road, Bangkok, 10400, Thailand
  • Phone: +66.2.694.6600

Related Companies

  • BOG Co., Ltd.
  • Banpu Vietnam LLC
  • Banpu NEXT Co., Ltd.
  • Banpu Innovation & Ventures Co., Ltd.
  • Licogi 16 Gia Lai Investment Renewable Energy JSC
  • BPPR Co., Ltd.
  • BPPR Japan Co., Ltd.
  • Banpu Engineering Services Co., Ltd.
  • Mineral Resources Development Co. Ltd. (Thailand)
  • Banpu Infinergy Co. Ltd.
  • AACI SAADEC (BVI) Holdings Ltd.
  • Banpu Power Development Co. Ltd.
  • BP Overseas Development Co., Ltd.
  • PT Nusantara Thai Mining Services
  • Banpu China Pte Ltd.
  • Banpu Power Vietnam
  • Amata Power (Bienhua)
  • PT Indo Tambangraya Megah Tbk
  • Banpu Minerals Co., Ltd.

Competitors

  • Lanna Resources Public Co., Ltd.
  • Electricity Generating Public Co., Ltd.
  • Gulf Energy Development Public Co. Ltd.
  • Ratch Group Public Co. Ltd.
  • PT Adaro Energy Indonesia Tbk
  • Glencore plc
  • Yancoal Australia Ltd.
  • Global Power Synergy Public Company Ltd
  • PT Indika Energy Tbk
  • Repsol SA
  • Asia Green Energy PCL
  • PT Golden Energy Mines Tbk
  • Chesapeake Energy Corporation
  • Southwestern Energy Company
  • PT Bumi Resources Tbk Class A
  • National Fuel Gas Company
  • PT Bukit Asam Tbk
  • Devon Energy Corporation
  • PT Bayan Resources Tbk
  • Siam Cement Public Co. Ltd.
  • Diversified Energy Company PLC
Last Updated on 1 Jul, 2022

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