Bangkok, GPSC announces net profits for 2023 totaling 3,694 million baht, along with setting goals for 2024 to increase the portfolio of future energy innovations. Support customer needs Mr. Worawat Pittayasiri, Chief Executive Officer and President of Global Power Synergy Public Company Limited or GPSC, the innovation leader in the electricity business of PTT Group, revealed that the company's 2023 operating results have Total net profit was 3,694 million baht, an increase of 2,803 million baht or 314% from the previous year. From increasing the efficiency of production management To control production costs and focus on maximizing benefits. As a result, the gross profit of large power plants (IPPs) is at a good level. and the operating results of the small power plant (SPP) group can continue to grow. Combined with the electricity price factor being able to better reflect the cost of energy prices from the previous year, the margin from selling electricity to industrial customers began to increase accordi ngly. In addition, this year the company has focused on controlling lower operating expenses (OPEX Saving Program) and from the commitment to expand investment, resulting in the company Able to realize profit share from Solar platform business from Avada Energy Private Limited (AEPL) in India, more than 300 million baht from increased commercial operations of projects. In addition, in 2023 AEPL Able to win the bid for more than 5 gigawatts of new production capacity, which will be able to gradually increase commercial operation. For operating results in the 4th quarter of 2023, compared to the same period last year (YoY), there was total revenue of 18,319 million baht, while total net profit was 478 million baht, an increase of 209%, with the main factor coming from Electricity that better reflects energy costs In addition, the volume of electricity sold to industrial customers increased. In addition, some income was recognized from insurance compensation from Gheco-One power plants. and Sriracha Power Plant . Compared to the 3rd quarter of 2022 (QoQ), net profit decreased by 73%, mainly due to a decrease in operating results in the SPP section, together with a decrease in total electricity and steam sales volume from Some industrial customers stopped maintenance during the 4th quarter of 2023. However, the company's profit share from the Changfang and Xidao (CFXD) offshore wind business, Taiwan, increased from higher electricity sales for a full quarter of all 12 wind turbines. plant Mr. Worawat said that in 2024, it is still necessary to keep an eye on risk factors from the uncertainty of the conflict situation in the Middle East. It may affect the direction of world energy prices. However, the company is preparing to expand its clean energy business and other innovative businesses. both within the country and the target country It aims to seek opportunities and expand in the battery pack and cell business, energy storage systems (ESS) as well as Energy Management System to be in line with the company's strate gy for sustainable growth. From creating efficiency in production management Along with Synergy operations and controlling operating expenses. Ready to seek investment opportunities to expand the energy innovation portfolio both domestically and abroad. Moving forward to increase the proportion of renewable energy In line with the direction of world energy . Source: Thai News Agency