PV Power Estimated Revenue of 2,824 billion VND in April

Source: www.gulfoilandgas.com 5/11/2022, Location: Asia

PetroVietnam Power Corporation (PV Power, HoSE: POW) announced that electricity output in April reached 1.4 billion kWh, 28% higher than the monthly plan; accumulated 5 billion kWh. In which, Nhon Trach 1 and 2 power plants, Hua Na and Dakdrinh hydropower plants all outperformed the monthly plan.

Accordingly, revenue is estimated at 2,824 billion dong, down slightly compared to the same period last year. Accumulating 4 months, revenue reached 9,948 billion dong, down 3% compared to the same period last year.

The enterprise said that the demand for load on the system increased gradually as production activities returned to normal. At the same time, the high market price due to the increase in both gas and coal prices increases the variable costs of thermal power plants.

Regarding the investment situation of new projects, Nhon Trach 3 and Nhon Trach 4 power plants were approved by the Board of Directors on the results of contractor selection for the EPC package on January 27, the contract was signed on March 14 and the groundbreaking ceremony is expected to be held in May. The winning unit is Samsung C&T Corporation – Lilama Corporation.

In May, PV Power plans to generate 1.1 million kWh of electricity and generate a revenue of 1,937 billion dong.

According to the consolidated financial statements of the first quarter, PV Power recorded a net revenue of VND 7,061 billion, down 8% compared to the same period last year; profit after tax of parent company shareholders is 721 billion dong, up 42%.


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