Pakgen Power Limited · PSX:PKGP
Pakgen Power — FY2022 Earnings Presentation
13 slides from Pakgen Power's earnings presentation, Dec 9, 2023
Slide 1: Corporate Briefing Session on Annual Audited Accounts FY2022
PAKGEN POWER LIMITED Corporate Briefing Session on Annual Audited Accounts for the Financial Year ended December 31, 2022
Slide 2: Company Brief
Company Brief Located at Mehmood Kot, Muzaffargarh Punjab Gross capacity: 365 MW Net/ Dependable Capacity: 350 MW Technology: Oil-Fired Steam Turbine Established under the “Power Policy 1994” Incorporated in year 1995 Commissioning Date: February 1, 1998 Shares listed in year 2011
Slide 3: Statement of Financial Position As at December 31, 2022
Statement of Financial Position As at December 31, 2022 2022 2021 2022 2021 (Rupees in thousand) (Rupees in thousand) EQUITY AND LIABILITIES ASSETS SHARE CAPITAL AND RESERVES NON-CURRENT ASSETS Authorized share capital Fixed assets 4,498,749 5,268,482 400,000,000 (2021: 400,000,000) Long term invest
Slide 4: Statement of Profit or Loss and Other Comprehensive Income
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2022 2022 2021 (Rupees in thousand) REVENUE FROM CONTRACT WITH CUSTOMER 45,833,179 19,900,766 COST OF SALES (42,359,309) (18,236,639) GROSS PROFIT 3,473,870 1,664,127 ADMINISTRATIVE EXPENSES (260,865) (228,689
Slide 5: Financial Highlights
Financial Highlights Rs in million 2022 2021 4,000 3,474 3,500 3,143 3,000 2,500 2,000 1,664 1,500 1,046 1,000 500 - Gross Profit Net Profit 16.0 2022 2021 14.0 12.0 10.0 8.4 % 8.43 7.6 % 8.0 6.9 % 6.0 5.3 % 4.0 2.82 2.0 - Gross Profit %age Net Profit %age Earning per Share Rs.
Slide 6: Financial Highlights
Financial Highlights The profit in current year has increased because in comparative year, the Company did not issue Capacity Purchase Price invoices amounting to Rs.2.429 billion started from 05-05-21 to 07-10-21, pursuant to PPA Amendment Agreement with CPPA-G.
Slide 7: Operational Highlights
Operational Highlights Capacity Utilization (%age) 2022 vs 2021 80% 70% 60% 50% 40% 30% 20% 10% 0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2022 2021
Slide 8: Strategic/Operational Developments
Strategic/Operational Developments In response to load demanded by CPPA-G, the Pakgen plant operated at capacity factor of 36.7% with a load factor of 78.3% and availability of 95.4% and dispatched 1,123.721 GWh of electricity during the year. Continuous efforts are being made to improve the plant
Slide 9: Challenges
Challenges 16,000 14,717 14,000 12,000 10,000 RS IN MILLION 8,000 6,852 6,000 4,000 2,000 7 697 - 2021 2022 Short term borrowings Trade debts
Slide 10: Challenges
Challenges Our sole customer, CPPA-G remains unable to meet its obligations in accordance with the Power Purchase Agreement (PPA) which are secured under a sovereign guarantee of Government of Pakistan. As on 31 December 2022, an amount of Rupees 14.717 billion was outstanding against CPPA-G.
Slide 11: Business Outlook
Business Outlook • Due to induction of new power generation plants based on hydel energy, coal, renewable and RLNG at a lower price, it is expected that Pakgen will be dispatched in peak demand seasons, in case of interruption in supply of RLNG or in low water months only. This will help Company min
Slide 12: Questions and Answers
Questions and Answers
Slide 13: Thank You
Thank You