Page 62 - PSTC - One Report 2023 (EN)

4. Management Discussion and Analysis
The following discussion and analysis is an analysis of the consolidated financial statements of Power Solution Technology Public Company Limited (the “Group”) for the years ending December 31, 2022, and 2023, and should be read in conjunction with the consolidated financial statements and notes to the consolidated financial statements.
1) Performance Analysis
In 2023, the Group had a total net loss of 180 million baht. The amount is higher than the previous year by 70.9 million baht with the main reason being that the Company set aside allowance for impairment of assets and impairment recognized by measuring their value to fair value less cost of sales for assets related to bioelectric and biomass power plants (classified as assets awaiting sale in the consolidated financial statements) totaling 83.91 million baht. However, in 2022 there was no allowance for such impairment. In addition, in 2023, the a share of losses from joint ventures of the Group reduced by 29.6 million baht. However, the Group’s financial costs increased by 30.4 million baht mainly due to higher interest rates and this is in accordance with the changes in market interest rates.
Annual Report 2023 (Form 56-1 ONE REPORT)
61
Revenue Structure and Gross Profit
Sales revenue
Service revenue
Revenue from electricity sales
Construction revenue
1,276.8
10.5
117.1
422.8
69.88%
0.57%
6.41%
23.14%
1,226.4
5.8
128.6
214.7
4.7%
36.1%
61.6%
1.5%
7.8%
77.84%
0.37%
8.16%
13.63%
(50.4)
(4.7)
11.5
(208.0)
4.1%
68.6%
61.3%
2.5%
8.8%
(3.9%)
(44.6%)
9.8%
(49.2%)
(0.6%)
32.5%
(0.3%)
1.0%
1.0%
Revenue (million baht)
Year 2022
Year 2023
Increase (decrease) from the previous year.
Amount
%(1)
Amount
%(1)
Amount
% Change from the previous year
Total revenue from sales and services
1,827.1
100.00%
1,575.6
100.00%
(251.6)
(13.8%)
(1) Percentage of total revenue from sales and administration.
Gross profit margin from sales
Gross profit margin from services
Gross profit margin from electricity sales Gross profit margin from construction Gross profit margin
Gross profit margin (%)
2022
2023
Change