- Gulf Development’s net income in the second quarter reached 63.87 billion baht, significantly surpassing the previous year’s 5.59 billion baht and beating estimates of 58.84 billion baht.
- The core profit increased by 27% year-over-year, amounting to 7.10 billion baht.
- Revenue for the quarter was 40.62 billion baht, reflecting a 24% year-over-year increase.
- Earnings per share stood at 4.28 baht, exceeding the estimated 3.54 baht.
- Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 21% year-over-year to 13.43 billion baht.
- The infrastructures and utilities business reported revenue of 423 million baht.
- Revenue from the gas-fired power business was 32.92 billion baht.
- The second quarter net profit saw a substantial jump of 873% quarter-over-quarter, largely due to a one-time gain from the business combination between GULFI and INTUCH.
- Additional gains were realized from a net foreign exchange gain and unrealized derivatives gain totaling 651 million baht.
- The core profit increase of 26.5% year-over-year was attributed to profits from the GPD project, domestic solar farms, and increased contributions from ADVANC, Jackson, and KBANK investments.
- The gas-fired power business saw a year-over-year revenue increase of 13.1% due to higher electricity selling prices to EGAT.
- The renewable energy business revenue increased by 59.5% year-over-year, driven by domestic solar farms with an installed capacity of 532 MW becoming operational.
- The company recorded a share of core profit from associates and joint ventures at 4.68 billion baht, up 22.4% year-over-year.
- Analyst ratings include 20 buys, 1 hold, and 0 sells.
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A look at Gulf Energy Development Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 5 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts have given Gulf Energy Development a positive long-term outlook based on the Smartkarma Smart Scores. The company scored high in Growth, indicating potential for strong expansion in the future. This suggests that Gulf Energy Development may see significant development and profitability in the coming years.
While the Value and Dividend scores were moderate, the company ranked well in Momentum, which could signify favorable market trends. Despite lower scores in Value and Resilience, the high Growth and Momentum ratings indicate that Gulf Energy Development may be in a good position for long-term success.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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