Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ฿7.10, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Renewable Energy industry in Thailand. Total loss to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿12.93 per share. Declared Dividend • Feb 20
Final dividend of ฿0.25 announced Shareholders will receive a dividend of ฿0.25. Ex-date: 4th March 2026 Payment date: 23rd April 2026 Dividend yield will be 4.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (287% earnings payout ratio). However, it is well covered by cash flows (47% cash payout ratio). The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 219% to bring the payout ratio under control. EPS is expected to grow by 126% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Annuncio • Feb 19
BCPG Public Company Limited, Annual General Meeting, Apr 09, 2026 BCPG Public Company Limited, Annual General Meeting, Apr 09, 2026, at 13:30 SE Asia Standard Time. Reported Earnings • Feb 16
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ฿0.29 (down from ฿0.61 in FY 2024). Revenue: ฿3.86b (down 19% from FY 2024). Net income: ฿855.5m (down 53% from FY 2024). Profit margin: 22% (down from 38% in FY 2024). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 46%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Annuncio • Dec 20
PetroEnergy Resources Corporation (PSE:PERC) agreed to acquire 40% stake in PetroWind Energy Inc. from BCPG Public Company Limited (SET:BCPG). PetroEnergy Resources Corporation (PSE:PERC) agreed to acquire 40% stake in PetroWind Energy Inc. from BCPG Public Company Limited (SET:BCPG) on December 18, 2025. Upon completion of the transaction, PERC’s effective ownership interest in PWEI will
increase to 90%, consisting of 60% direct ownership and 30% indirect ownership through PGEC.
Transaction is subject to regulatory approval. New Risk • Dec 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risks Dividend is not well covered by earnings (287% payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.2% net profit margin). Reported Earnings • Nov 06
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: ฿0.21 (up from ฿0.009 loss in 3Q 2024). Revenue: ฿1.15b (up 2.3% from 3Q 2024). Net income: ฿626.6m (up ฿655.0m from 3Q 2024). Profit margin: 54% (up from net loss in 3Q 2024). Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) exceeded analyst estimates by 1.6%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Thailand are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Annuncio • Oct 22
BCPG Public Company Limited to Report Q3, 2025 Results on Nov 05, 2025 BCPG Public Company Limited announced that they will report Q3, 2025 results on Nov 05, 2025 New Risk • Oct 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.4x net interest cover). Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (6.8% average weekly change). Declared Dividend • Aug 30
First half dividend of ฿0.10 announced Shareholders will receive a dividend of ฿0.10. Ex-date: 10th September 2025 Payment date: 23rd September 2025 Dividend yield will be 3.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (64% cash payout ratio). The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. New Risk • Aug 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (5.9% operating cash flow to total debt). Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (7.5% average weekly change). Reported Earnings • Aug 07
Second quarter 2025 earnings: EPS in line with expectations, revenues disappoint Second quarter 2025 results: ฿0.22 loss per share (down from ฿0.41 profit in 2Q 2024). Revenue: ฿849.5m (down 77% from 2Q 2024). Net loss: ฿651.0m (down 152% from profit in 2Q 2024). Revenue is forecast to grow 43% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Price Target Changed • Aug 06
Price target increased by 7.2% to ฿9.10 Up from ฿8.49, the current price target is an average from 7 analysts. New target price is 30% above last closing price of ฿7.00. Stock is up 33% over the past year. The company is forecast to post earnings per share of ฿0.54 for next year compared to ฿0.61 last year. Annuncio • Jul 22
BCPG Public Company Limited to Report Q2, 2025 Results on Aug 06, 2025 BCPG Public Company Limited announced that they will report Q2, 2025 results on Aug 06, 2025 Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿6.60, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 8x in the Renewable Energy industry in Thailand. Total loss to shareholders of 31% over the past three years. Annuncio • May 29
BCPG Public Company Limited Announces Executive Changes, Effective May 27, 2025 BCPG Public Company Limited at its boards of Director meeting held on May 27, 2025, resolved to appoint the two new directors as: Mr. Prasong Poontaneat as a Director (Independent Director), replacing Mr. Thammayot Srichuai. Mr. Natthakorn Athithanavanich as a Director, replacing Mr. Suthep Wongvorazathe. Meanwhile the board of Director resolved to elect Mr. Prasong Poontaneat as the position of Chairman of the Board of Directors and Mr. Natthakorn Athithanavanich as the position of Vice Chairman of the board of Directors with effective on May 27, 2025 onwards. Reported Earnings • May 09
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: EPS: ฿0.05 (down from ฿0.15 in 1Q 2024). Revenue: ฿789.3m (down 35% from 1Q 2024). Net income: ฿152.6m (down 65% from 1Q 2024). Profit margin: 19% (down from 36% in 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 38%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Thailand are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Annuncio • Apr 25
BCPG Public Company Limited to Report Q1, 2025 Results on May 07, 2025 BCPG Public Company Limited announced that they will report Q1, 2025 results on May 07, 2025 Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ฿6.85, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 10x in the Renewable Energy industry in Thailand. Total loss to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿10.64 per share. Major Estimate Revision • Feb 27
Consensus EPS estimates increase by 13% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from ฿0.478 to ฿0.54. Revenue forecast unchanged at ฿3.77b. Net income forecast to shrink 12% next year vs 23% growth forecast for Renewable Energy industry in Thailand . Consensus price target of ฿8.60 unchanged from last update. Share price fell 20% to ฿5.65 over the past week. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ฿5.65, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Renewable Energy industry in Thailand. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿9.54 per share. Declared Dividend • Feb 22
Final dividend of ฿0.18 announced Shareholders will receive a dividend of ฿0.18. Ex-date: 5th March 2025 Payment date: 22nd April 2025 Dividend yield will be 4.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 6.4% over the next 2 years. However, it would need to fall by 44% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Feb 21
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: ฿0.61 (up from ฿0.38 in FY 2023). Revenue: ฿7.13b (up 40% from FY 2023). Net income: ฿1.82b (up 65% from FY 2023). Profit margin: 26% (up from 22% in FY 2023). Revenue exceeded analyst estimates by 9.2%. Earnings per share (EPS) missed analyst estimates by 36%. Revenue is forecast to decline by 28% p.a. on average during the next 2 years, while revenues in the Renewable Energy industry in Thailand are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 19% per year. Annuncio • Feb 12
BCPG Public Company Limited to Report Fiscal Year 2024 Results on Feb 20, 2025 BCPG Public Company Limited announced that they will report fiscal year 2024 results on Feb 20, 2025 New Risk • Jan 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.1% operating cash flow to total debt). Earnings are forecast to decline by an average of 15% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (20% net profit margin). Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿6.45, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Renewable Energy industry in Thailand. Total loss to shareholders of 41% over the past three years. Major Estimate Revision • Dec 14
Consensus EPS estimates increase by 13% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ฿0.79 to ฿0.893. Revenue forecast unchanged at ฿3.94b. Net income forecast to grow 0.8% next year vs 32% growth forecast for Renewable Energy industry in Thailand. Consensus price target of ฿8.45 unchanged from last update. Share price fell 2.6% to ฿5.65 over the past week. Price Target Changed • Nov 26
Price target decreased by 8.2% to ฿8.45 Down from ฿9.20, the current price target is an average from 4 analysts. New target price is 48% above last closing price of ฿5.70. Stock is down 35% over the past year. The company is forecast to post earnings per share of ฿0.79 for next year compared to ฿0.38 last year. New Risk • Nov 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 31% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.1% operating cash flow to total debt). Earnings are forecast to decline by an average of 8.5% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (20% net profit margin). Reported Earnings • Nov 10
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: ฿0.01 loss per share (down from ฿0.19 profit in 3Q 2023). Revenue: ฿1.21b (down 23% from 3Q 2023). Net loss: ฿28.4m (down 105% from profit in 3Q 2023). Revenue missed analyst estimates by 8.3%. Earnings per share (EPS) exceeded analyst estimates by 75%. Revenue is expected to decline by 17% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Thailand are expected to grow by 2.8%. Over the last 3 years on average, earnings per share has fallen by 24% per year whereas the company’s share price has fallen by 22% per year. Annuncio • Oct 23
BCPG Public Company Limited to Report Q3, 2024 Results on Nov 06, 2024 BCPG Public Company Limited announced that they will report Q3, 2024 results on Nov 06, 2024 Price Target Changed • Sep 12
Price target increased by 12% to ฿9.73 Up from ฿8.69, the current price target is an average from 4 analysts. New target price is 36% above last closing price of ฿7.15. Stock is down 30% over the past year. The company is forecast to post earnings per share of ฿0.98 for next year compared to ฿0.38 last year. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿7.05, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Renewable Energy industry in Thailand. Total loss to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿4.21 per share. Price Target Changed • Sep 03
Price target decreased by 11% to ฿8.69 Down from ฿9.78, the current price target is an average from 4 analysts. New target price is 39% above last closing price of ฿6.25. Stock is down 38% over the past year. The company is forecast to post earnings per share of ฿0.98 for next year compared to ฿0.38 last year. Declared Dividend • Aug 22
First half dividend of ฿0.10 announced Dividend of ฿0.10 is the same as last year. Ex-date: 2nd September 2024 Payment date: 13th September 2024 Dividend yield will be 4.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 51% over the next 3 years. However, it would need to fall by 76% to increase the payout ratio to a potentially unsustainable range. Declared Dividend • Aug 22
First half dividend of ฿0.10 announced Dividend of ฿0.10 is the same as last year. Ex-date: 2nd September 2024 Payment date: 13th September 2024 Dividend yield will be 4.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 51% over the next 3 years. However, it would need to fall by 76% to increase the payout ratio to a potentially unsustainable range. Declared Dividend • Aug 22
First half dividend of ฿0.10 announced Dividend of ฿0.10 is the same as last year. Ex-date: 2nd September 2024 Payment date: 13th September 2024 Dividend yield will be 4.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 51% over the next 3 years. However, it would need to fall by 76% to increase the payout ratio to a potentially unsustainable range. Annuncio • Aug 20
BCPG Public Company Limited Announces Interim Cash Dividend for the Operating Period from 01 January, 2024 to 30 June, 2024, Payable on 13 September, 2024 BCPG Public Company Limited announced interim cash dividend for the of THB 0.10 per share for the Operating period from 01 January, 2024 to 30 June, 2024. Record date for the right to receive dividends is 03 September, 2024. Ex-dividend date is 02 September, 2024. Payment date is 13 September, 2024. New Risk • Aug 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 622% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). Earnings are forecast to decline by an average of 21% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (3.0% increase in shares outstanding). Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: ฿0.42 (vs ฿0.069 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.42 (up from ฿0.069 in 2Q 2023). Revenue: ฿3.66b (up 234% from 2Q 2023). Net income: ฿1.24b (up ฿1.04b from 2Q 2023). Profit margin: 34% (up from 18% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 16% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Thailand are expected to grow by 2.9%. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. New Risk • Jul 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Earnings are forecast to decline by an average of 3.5% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (20% net profit margin). Shareholders have been diluted in the past year (3.0% increase in shares outstanding). Annuncio • Jul 19
BCPG Public Company Limited to Report Q2, 2024 Results on Aug 07, 2024 BCPG Public Company Limited announced that they will report Q2, 2024 results on Aug 07, 2024 Reported Earnings • May 08
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: ฿0.15 (down from ฿0.18 in 1Q 2023). Revenue: ฿1.25b (up 18% from 1Q 2023). Net income: ฿440.5m (down 14% from 1Q 2023). Profit margin: 35% (down from 48% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is expected to decline by 1.8% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Thailand are expected to grow by 4.6%. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 22% per year. Major Estimate Revision • May 03
Consensus EPS estimates fall by 31% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿3.93b to ฿3.69b. EPS estimate also fell from ฿1.00 per share to ฿0.692 per share. Net income forecast to grow 109% next year vs 25% growth forecast for Renewable Energy industry in Thailand. Consensus price target down from ฿12.27 to ฿10.83. Share price rose 3.8% to ฿6.80 over the past week. Price Target Changed • May 02
Price target decreased by 9.5% to ฿11.10 Down from ฿12.27, the current price target is an average from 7 analysts. New target price is 64% above last closing price of ฿6.75. Stock is down 28% over the past year. The company is forecast to post earnings per share of ฿0.62 for next year compared to ฿0.38 last year. Major Estimate Revision • Apr 30
Consensus revenue estimates decrease by 13% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ฿3.93b to ฿3.42b. EPS estimate unchanged from ฿0.98 per share at last update. Renewable Energy industry in Thailand expected to see average net income growth of 26% next year. Consensus price target down from ฿12.27 to ฿11.96. Share price was steady at ฿6.75 over the past week. Annuncio • Apr 26
BCPG Public Company Limited Announces Resignation of Pichai Chunhavajira as Director and the Chairman of the Board of Directors BCPG Public Company Limited announced that Mr. Pichai Chunhavajira has resigned from the Company's Director and the Chairman of the Board of Directors, due to the many missions, effective from 25 April 2024. Consequently, the Company will then proceed with the appointment of the new director and will inform later. Annuncio • Apr 17
BCPG Public Company Limited Announces Audit Committee Changes BCPG Public Company Limited has notified the resolution of the 2024 Annual General Meeting of Shareholders regarding to consider and appointment of directors in replacement of those retired by rotation, which Mr. Thaworn Ngamkanokwan, independent director and the chairman of the Audit Committee, being a director, whose term has expired and did not propose to be reappointed as a director for another term. As a result, he had to vacate his position as the chairman of the audit committee of the company at the same period. The Board of Directors in meeting no. 4/2024 held on 17 April 2024, resolved to appoint Mrs. Vilai Chattanrassamee, an independent director, to hold the position of audit committee member and Chairman of the Audit Committee in place of Mr. Thaworn Ngamkanokwan with effect from 17 April 2024 onwards. The audit committee is consisted of: Chairman of the audit committee: Mrs. Vilai Chattanrassamee remaining term in office 1 years 5 Months; Member of the audit committee: General Sakda Niemkham remaining term in office 1 years 5 Months and Member of the audit committee: Miss Salagjit Pongsirichan remaining term in office 1 years 5 Months. Annuncio • Apr 10
BCPG Public Company Limited Approves Dividend for the Second Half of the Year 2023 BCPG Public Company Limited announced that at the AGM held on April 9, 2024 approved the dividend payment from net profits of the 2023 year for dividend payment in the second half of the 2023 year at rate of THB 0.15 per share, totaling THB 449.36 million. After combing such amount with the interim dividend payment of the entire year of 2023 (at the rate of THB 0.10 per share), the total sum of the 2023 year dividend will be THB 0.25 per share, amounting to approximately THB 740.25 million. Major Estimate Revision • Feb 27
Consensus revenue estimates decrease by 20%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ฿4.94b to ฿3.93b. EPS estimate increased from ฿0.792 to ฿1.00 per share. Net income forecast to grow 175% next year vs 23% growth forecast for Renewable Energy industry in Thailand. Consensus price target of ฿12.27 unchanged from last update. Share price was steady at ฿8.15 over the past week. Upcoming Dividend • Feb 26
Upcoming dividend of ฿0.15 per share Eligible shareholders must have bought the stock before 04 March 2024. Payment date: 22 April 2024. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (2.4%). Annuncio • Feb 22
BCPG Public Company Limited Proposes Dividend for the Second Half of the Year 2023, Payable on 22 April 2024 BCPG Public Company Limited at the AGM held on April 9, 2024 proposed the shareholders' meeting to approve the allocation of reserved fund according to the law and the allocation of net profits for second half from the performance in the 2023 year at the rate of THB 0.15 per share. In this regard, if the interim dividend payment of the entire year of 2023 (at the rate of THB 0.10 per share) have been included, the total sum of the 2023-year dividend will be THB 0.25 per share, amounting to approximately THB 740.25 million. The date to determine the names of shareholders who are entitled to receive dividend (Record Date) is 5th March 2024. The dividend payment date is scheduled for 22 April 2024, subject to the shareholders' approval to be obtained from the 2024 Annual General Meeting of Shareholders. The dividend of THB 0.15 per share, paid from the dividend which is exempted to be calculated as taxable income under corporate income tax. Therefore, individual shareholders shall receive dividend after withholding tax deduction, and cannot be credited. Reported Earnings • Feb 21
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ฿0.38 (down from ฿0.91 in FY 2022). Revenue: ฿5.33b (down 1.6% from FY 2022). Net income: ฿1.10b (down 58% from FY 2022). Profit margin: 21% (down from 49% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 18% per year and the company’s share price has also fallen by 18% per year. Major Estimate Revision • Feb 06
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ฿0.498 to ฿0.444. Revenue forecast unchanged from ฿5.08b at last update. Net income forecast to grow 48% next year vs 33% growth forecast for Renewable Energy industry in Thailand. Consensus price target down from ฿12.53 to ฿12.27. Share price was steady at ฿8.25 over the past week. Annuncio • Jan 10
BCPG Public Company Limited to Report Fiscal Year 2023 Results on Feb 21, 2024 BCPG Public Company Limited announced that they will report fiscal year 2023 results on Feb 21, 2024 Annuncio • Dec 27
BCPG Public Company Limited, Annual General Meeting, Apr 09, 2024 BCPG Public Company Limited, Annual General Meeting, Apr 09, 2024. Price Target Changed • Nov 22
Price target decreased by 8.6% to ฿13.02 Down from ฿14.24, the current price target is an average from 5 analysts. New target price is 49% above last closing price of ฿8.75. Stock is down 11% over the past year. The company is forecast to post earnings per share of ฿0.51 for next year compared to ฿0.91 last year. Reported Earnings • Nov 08
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: ฿0.19 (down from ฿0.22 in 3Q 2022). Revenue: ฿1.62b (up 4.9% from 3Q 2022). Net income: ฿564.8m (down 12% from 3Q 2022). Profit margin: 35% (down from 41% in 3Q 2022). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 11% per year. Price Target Changed • Oct 30
Price target decreased by 7.4% to ฿14.24 Down from ฿15.38, the current price target is an average from 5 analysts. New target price is 60% above last closing price of ฿8.90. Stock is down 6.8% over the past year. The company is forecast to post earnings per share of ฿0.47 for next year compared to ฿0.91 last year. New Risk • Oct 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.8% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (24% net profit margin). Shareholders have been diluted in the past year (3.4% increase in shares outstanding). Upcoming Dividend • Aug 28
Upcoming dividend of ฿0.10 per share at 2.5% yield Eligible shareholders must have bought the stock before 04 September 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (1.8%). Annuncio • Aug 24
BCPG Public Company Limited Announces Management Changes BCPG Public Company Limited announced that Mr. Suthep Wongvorazathe, Chairman of Audit Committee has resigned from the position of Chairman of Audit Committee due to other responsibilities, effective on 23 August 2023. The Board of Directors of the Company, in its meeting No. 9/2023 held on 22 August 2023, resolved to appoint Mr. Thaworn Ngamganokwan, Independent Director, as Chairman of Audit Committee to fulfill the vacated position, effective on 23 August 2023 onwards. New Risk • Aug 09
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 7.9% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.9% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (23% net profit margin). Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: ฿0.07 (vs ฿0.11 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.07 (down from ฿0.11 in 2Q 2022). Revenue: ฿1.20b (down 17% from 2Q 2022). Net income: ฿201.1m (down 39% from 2Q 2022). Profit margin: 17% (down from 23% in 2Q 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Annuncio • Jul 25
BCPG Public Company Limited to Report Q2, 2023 Results on Aug 08, 2023 BCPG Public Company Limited announced that they will report Q2, 2023 results on Aug 08, 2023 Board Change • May 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Suthep Wongvorazathe was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Apr 21
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from ฿5.62b to ฿5.69b. EPS estimate increased from ฿0.54 to ฿0.62 per share. Net income forecast to shrink 34% next year vs 6.4% growth forecast for Renewable Energy industry in Thailand . Consensus price target broadly unchanged at ฿14.68. Share price was steady at ฿10.30 over the past week. Price Target Changed • Mar 30
Price target increased by 12% to ฿14.32 Up from ฿12.74, the current price target is an average from 5 analysts. New target price is 45% above last closing price of ฿9.90. Stock is down 18% over the past year. The company is forecast to post earnings per share of ฿0.57 for next year compared to ฿0.91 last year. Upcoming Dividend • Feb 24
Upcoming dividend of ฿0.16 per share at 3.7% yield Eligible shareholders must have bought the stock before 03 March 2023. Payment date: 21 April 2023. Payout ratio is a comfortable 40% and the cash payout ratio is 95%. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 22
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: ฿0.91 (up from ฿0.74 in FY 2021). Revenue: ฿7.59b (up 62% from FY 2021). Net income: ฿2.63b (up 31% from FY 2021). Profit margin: 35% (down from 43% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.6%. Revenue is expected to decline by 15% p.a. on average during the next 2 years, while revenues in the Renewable Energy industry in Thailand are expected to grow by 11%. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Annuncio • Feb 07
BCPG Public Company Limited to Report Fiscal Year 2022 Results on Feb 20, 2023 BCPG Public Company Limited announced that they will report fiscal year 2022 results at 9:30 AM, SE Asia Standard Time on Feb 20, 2023 Price Target Changed • Jan 12
Price target decreased to ฿12.74 Down from ฿14.14, the current price target is an average from 5 analysts. New target price is 26% above last closing price of ฿10.10. Stock is down 20% over the past year. The company is forecast to post earnings per share of ฿0.90 for next year compared to ฿0.74 last year. Annuncio • Jan 05
BCPG Public Company Limited (SET:BCPG) entered into a share sale and purchase agreement to acquire Asia Link Terminal Company Limited from Pan Asia Storage & Terminal Co.,LTD for THB 9 billion. BCPG Public Company Limited (SET:BCPG) entered into a share sale and purchase agreement to acquire Asia Link Terminal Company Limited from Pan Asia Storage & Terminal Co.,LTD for THB 9 billion on December 30, 2022. BCPG acquiring for amount of 40,000,000 shares, with the par value of THB 100 per share, representing 100 percent of total issued and paid-up ordinary shares of the Target Company, from the Seller with the consideration not exceeding THB 9 billion. The BCPG source of fund for entering into the transaction will come from internal cash flow of the Company. The Share Purchase Transaction is classified as an acquisition of assets. The size of the transaction is 15.62% calculated from the Value of Total Consideration method, which yields the largest transaction size measurement, according to the consolidated financial statements ended September 30, 2022. The Board of Directors approves the entering into the transaction by the BCPG and is of the opinion that such transaction is reasonable and in the best interest of the Company and its shareholders.BCPG anticipates that the completion of this transaction can occur approximately in March 2023 pursuant to terms and conditions. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Ongard Pongsakdi was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: ฿0.22 (vs ฿0.25 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.22 (down from ฿0.25 in 3Q 2021). Revenue: ฿1.58b (up 21% from 3Q 2021). Net income: ฿640.9m (down 6.4% from 3Q 2021). Profit margin: 41% (down from 52% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 05
Price target decreased to ฿14.14 Down from ฿15.22, the current price target is an average from 5 analysts. New target price is 46% above last closing price of ฿9.70. Stock is down 25% over the past year. The company is forecast to post earnings per share of ฿0.93 for next year compared to ฿0.74 last year. Upcoming Dividend • Aug 23
Upcoming dividend of ฿0.20 per share Eligible shareholders must have bought the stock before 30 August 2022. Payment date: 09 September 2022. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (1.9%). Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: ฿0.11 (vs ฿0.21 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.11 (down from ฿0.21 in 2Q 2021). Revenue: ฿1.47b (up 35% from 2Q 2021). Net income: ฿330.2m (down 42% from 2Q 2021). Profit margin: 23% (down from 52% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 29% compared to a 29% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Price Target Changed • Aug 10
Price target decreased to ฿14.47 Down from ฿15.78, the current price target is an average from 6 analysts. New target price is 38% above last closing price of ฿10.50. Stock is down 28% over the past year. The company is forecast to post earnings per share of ฿0.86 for next year compared to ฿0.74 last year. Reported Earnings • May 13
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: EPS: ฿0.47 (up from ฿0.20 in 1Q 2021). Revenue: ฿3.21b (up 203% from 1Q 2021). Net income: ฿1.36b (up 160% from 1Q 2021). Profit margin: 43% (down from 49% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.4%. Over the next year, revenue is expected to shrink by 25% compared to a 39% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 11% per year. Major Estimate Revision • Apr 30
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from ฿0.83 to ฿0.99. Revenue forecast unchanged at ฿5.20b. Net income forecast to grow 45% next year vs 37% growth forecast for Renewable Energy industry in Thailand. Consensus price target of ฿16.13 unchanged from last update. Share price was steady at ฿12.30 over the past week. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. President, Senior EVP of Operation, CEO, Secretary & Director Niwat Adirek was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. President, Senior EVP of Operation, CEO, Secretary & Director Niwat Adirek was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 02
High number of new directors There are 6 new directors who have joined the board in the last 3 years. President, Senior EVP of Operation, CEO, Secretary & Director Niwat Adirek was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Feb 24
Upcoming dividend of ฿0.17 per share Eligible shareholders must have bought the stock before 03 March 2022. Payment date: 22 April 2022. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 18
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ฿0.74 (down from ฿0.92 in FY 2020). Revenue: ฿4.74b (up 12% from FY 2020). Net income: ฿2.01b (up 5.2% from FY 2020). Profit margin: 42% (down from 45% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 6.4%. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 8% per year. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS ฿0.25 (vs ฿0.34 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: ฿1.32b (up 6.3% from 3Q 2020). Net income: ฿684.7m (up 1.7% from 3Q 2020). Profit margin: 52% (down from 54% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 10% per year. Executive Departure • Oct 12
Independent Director Krisada Chinavicharana has left the company On the 1st of October, Krisada Chinavicharana's tenure as Independent Director ended after 1.2 years in the role. We don't have any record of a personal shareholding under Krisada's name. Krisada is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.67 years. Price Target Changed • Sep 01
Price target decreased to ฿15.84 Down from ฿17.18, the current price target is an average from 5 analysts. New target price is 8.5% above last closing price of ฿14.60. Stock is up 14% over the past year.