Padaeng Boost from renewables,zinc trading in Q1

The company reported total revenue of Bt1.28 billion and a net profit of Bt97 million in the first quarter of this year from renewable energy businesses and zinc trading, the company’s managing director Francis Vanbellen said yesterday.
The first-quarter performance met its expectations even though it is lower than last year’s first quarter net profit of Bt313 million after the company ended its conventional zinc business and transitioned into renewable energy and zinc trading. 
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 has predicted high profit for the year, mostly from renewable energy and the management of existing obsolete assets from the zinc business.
Vanbellen said the company invested successfully, especially in renewable energy during its business transition. 
Currently, PDI has solar farms in Thailand and Japan with a combined capacity of 50 megawatts, with full contribution of revenues and profit this year.
PDI will further optimise its operating solar farms under PDI Energy to assure robust production and targets, expanding the capacity to 100 megawatts. It is eyeing opportunities to invest in other potential businesses to grow income, profits and increase returns to shareholders.