In the first quarter 2018 PDI posted a net profit of 97 MB Business will continue to grow

Energy Press Releases Friday May 11, 2018 14:23
Bangkok--11 May--

PDI said its 1Q2018 earnings results met expectations with a net profit of 97 million Baht from renewable energy businesses and zinc trading. The Company is confident to invest more to expand its new business and to sustainably build income and profit. It aims to increase the capacity of solar farms with 100 megawatts this year.

Mr. Francis Vanbellen, Managing Director of Padaeng Industry Public Company Limited (PDI), revealed the Company recorded sales and services of 1,289 million Baht and a net profit of 97 million Baht in the first quarter of 2018.

The first quarter performance met its expectations even though it is down from the 1Q2017 net profit of 313 million Baht after the Company ended its conventional zinc business and transitioned into renewable energy and zinc trading business. Profit margins from the trading of zinc cannot be compared with the profit from zinc operations last year from low-cost zinc ores inventories. Nevertheless, PDI remains confident in the positive outlook of its business performance this year. It predicted its profit will remain considerable, mostly from renewable energy and the management of existing obsolete assets from the zinc business.

Mr. Vanbellen said the Company invested successfully, especially in renewable energy during its business transition. Presently, PDI has solar farms in Thailand and Japan with a combined capacity of 50 megawatts, with full contribution of revenues and profit in 2018.

This year, PDI will further optimize its operating solar farms under PDI Energy to assure robust production and targets to expand the capacity with 100 megawatts. It is eyeing opportunities to invest in other potential businesses, which to grow income and profits and increase returns to shareholders.

About PDI

PDI, or Padaeng Industry Public Company Limited, was founded April 10, 1981 and listed on the Stock Exchange of Thailand with a registered capital of 2,260 million Baht. PDI was a zinc mining and smelting company for over 30 years. In 2014, PDI reassessed its business structure in anticipation of a shift to sustainable business, with the objective to increase eco-efficiency and to foster growth. The Company is structured in three business units: PDI Energy – providing energy mainly from renewable sources; PDI Materials – providing added value materials from recycled materials; and PDI Eco – providing waste management solutions for complex industrial waste.


Latest Press Release

Photo Release: PTT Group joined Petroleum Refining Industry Club of F.T.I. Forecast 2019 Oil Price

Mr. Chansin Treenuchagron, President and Chief Executive Officer of PTT Public Company Limited (center), presided over the opening ceremony of 2018 The Annual Petroleum Outlook Forum: "Future Energy Moving Together". The Petrochemicals and Refining...

GW Electric Installs first Premolded Dry Type Outdoor Terminations in Asia-Pacific Region and United States

G&W Electric recently installed the first 138kV Python(R) single-piece, premolded dry type outdoor terminations in Malaysia, Philippines and Ansonia, CT. To meet the growing demand for regional grid efficiency and modernization, the 138kV Python...

PTT Group and Petroleum Refining Industry Club of F.T.I. Forecast Oil Price of 2019

Petrochemicals and Refining Integrated Synergy Management (PRISM) and Petroleum Refining Industry Club of Federation of Thai Industries forecasted that Dubai crude oil price in 2019 would be around 70 – 80 USD/bbl. Factors that should be closely...

WHAUP and ZF Lemforder Sign the agreement to Install Solar Rooftop

WHA Utilities & Power PLC received an agreement from ZF Lemforder (Thailand) Co., Ltd. to install Solar Rooftop on ZF's factory at Eastern Seaboard Industrial Estate (Rayong) with a capacity of 0.8 MW. Mr. Thinus Steyn (middle right), Head of Region...

Seraphim Solar Secures 80 MW Supply Agreement in Vietnam

Jiangsu Seraphim Solar System Co., Ltd. ("Seraphim") recently signed new landmark supply agreements for two separate PV projects totaling 80MW in Vietnam. The Solar farms are a joint venture project of AMI Renewables of Vietnam and AC Energy of the...

Related Topics