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RATCH announces THB 6.9 billion profits in first nine-month Pursuing new investment in 130 MW renewable projects in Australia and 600 MW power plant in Cambodia

Bangkok: Ratchaburi Electricity Generating Holding Public Company Limited (RATCH) announced today that the company’s 9-month operating performance continues strongly growing due to good management of asset efficiency. The company’s assets include power plants in Thailand, Lao PDR and Australia with accumulated 5,300 megawatt installed capacity. In addition, it has driven development progress of the committed projects including THB10 billion project financing completion of three projects. RATCH is also ready for additional investment in 130 megawatts renewable energy in Australia and 600 megawatt power plant of a preliminary phase in Cambodia.

Mr. Noppol Milintanggoon, RATCH’s Chief Executive Officer, said that in the first 9 months the company reached target of its business plan. The 103 megawatt Huay Bong 3 Wind Farm completed 45 wind turbine installations and has already generated electricity to Electricity Generating Authority of Thailand (EGAT). The 103 megawatt Huay Bong 2 Wind Farm is under installation of wind turbines and expects commercial operation in January 2013. The 8th Solar Farm project of Solarta Co., Ltd plans to operate at the end of this month. Achievement of project financing for Solar Power project, Songkha Biomass and Ratchaburi World Cogeneration (RW) in the past 9 months has driven development progress aligned with a development timeline. Nava Nakorn Electricity Generating (NNEG) project already entered Power Purchase Agreement (PPA) with EGAT, while Xe Pian Xe Namnoy Hydroelectric Power Project was granted Concession Agreement with Government of Lao PDR and expected to sign PPA with EGAT by the end of the year.                                                         
"The company's growth reflects the effectiveness of our business strategies, which strive to stable income and steady cash-flow.  For the past 9 months, it has recognised income in form of dividend, profit sharing and interest income from joint-venture companies; whereas, the asset of the company has increased to THB 98 billion.   Furthermore, we are striving for a continual expansion for another 5,400 megawatts by participating in next round bidding of new IPPs in Thailand, and additional 100 megawatts in renewable energy. At the same time, RATCH is planning for new investment in fossil fuel and renewable energy power plants, and coal-mine business in particular targeted countries namely Lao PDR, Australia, Cambodia, Myanmar and Indonesia", ended Mr. Noppol.

For the first nine months of this year, the company’s total revenue was THB 46 billion, 31% higher from the same period of last year and recorded a profit of THB 9.733 billion equivalent to THB 4.74 per share. In the third quarter performance, the company reported THB 14.342 billion with a profit of THB 2.003 billion.  RATCH’s financial position is still strong proven by over THB 9.5 billion cash-on-hands and THB 34 billion retained earnings.  Also, the company’s credit ratings rated by TRIS, Moody's and S&P are in the satisfactory level at AA, Baa1 and BBB+ respectively.

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Media Contact:
Public Relations Department
Wiwan Phayakvichien, Nuannang Changadveja
Tel: 0 2794 9941, 0 2794 9944  
E-mail: wiwanp@ratch.co.th
 

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