Phnom Penh Water Supply Authority (PPWSA) 

First Quarterly Report of PPWSA in 2014

July 10, 2014

Phnom Penh Water Supply Authority

• Standard code: KH1000010004
• Symbol: PWSA

Disclosure Details

In the first quarter of 2014, PPWSA has total revenue of KHR 34,257,733,000 and net profit of KHR 5,348,838,000 which both decreases by 14.14% and 62.51% respectively if comparing to the same period in 2013. As at the end of the period, the total asset rises up to KHR 1,110,546,130,000 with the total equity of KHR 695,769,555,000.

Significant indicators of the period are following:

1. Basic earnings per share: 61.50 KHR
2. Return on Equity: 0.77 %
3. Return on Asset: 0.48 %
4. Current ratio: 4.72
5. Quick ratio: 4.09
6. Asset turnover ratio: 0.03
7. Average cost: 944.43 KHR/m3
8. Average water tariff: 981.11 KHR/m3
9. Staff productivity index (Employee/1000 customers): 2.83

In the next quarter, PPWSA expects to earn net profit of not less than KHR 9,749 million as agreed upon by Board of Directors and both guardian Ministries.

Anyways, below are the reasons for the decline in revenue and net profit of the quarter:

1. The fall in water supply revenue
• Weather factor
  The winter in 2014 is longer than that in 2013, which causes a drop in water demand from Domestic (Household) Customers.
• Political factor
  The post-election situation was unstable because of the workers' demonstrations, especially in Chum Chao area, which would drive the nearby factories and businesses to the temporary closure. As a result, the water demand in this zone was decreased.
2. The decrease in construction revenue
   Revenue from construction has been declined since PPWSA already completed the project "Change and Extend the Water Distribution System in Battambang and Pursat in 2013".
3. The increase in asset depreciation and amortization expense
   There is a rise in depreciation for Niroth plant (step 1) and solar power system.
4. Exchange loss
   There is currency exchange loss for loan from AFD as well as from JICA.

Please refer to the links for the full report: Link 1 | Link 2