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RATCH announces 3.2-billion-baht profit, rising by 37%, exploring new investment in Thailand and abroad for growth expansion

  • Earnings before interest and taxes (EBIT) were 4.951 billion baht, increasing by 8% over year.
  • Start construction of 180-MW Mount Emerald wind farm and further development of 42-MW solar power station in Australia.
  • Jointly submit bids for Thailand's Pink and Yellow monorail lines, with an aim to diversify its investment to new promising businesses for securing steady income.

Nonthaburi - Ratchaburi Electricity Generating Holding Public Company Limited today reported its 3.202-billion-baht profit, increasing by 37% over the same period of last year for the first nine-month (January - September) operating performance of 2016. Meanwhile, the profit before foreign exchange loss was gained 4.438 billion baht, rising by 4% over year.

Mr. Rum Herabat, RATCH Chief Executive Officer, said profit sharing of investments in joint ventures and dividend substantially drives the company's performance during the first-nine months of 2016. The said income accounted for 5% of the total revenues, or amounting up to 1.975 billion baht, thanks to the revenue from Hongsa power plant, NNEG co-generation power plant, Songkhla biomass power plant as well as higher dividend income from investment in common stocks of EDL-Generation Public Company in Lao PDR. New project investment has been being searched in order to secure its steady income. Its advancement is seen by the construction of 180-MW Mount Emerald wind farm in Australia started in November and scheduled commercial operation in September 2018. Also, the construction of 410-MW Xe-Pian Xe- Namnoy hydroelectric power project in Lao PDR has been progressed as planned and electricity will be commercially dispatched to Electricity Generating Authority of Thailand in 2018.

"To accelerate growth expansion, the strategic business plan defined the company’s broadened investment boundary, enabling the expansion into new businesses besides electricity and power business, which is still our core business. RATCH has continued to study other potential business and opportunity in Thailand and overseas. The company begins its new chapter in a transportation industry by participating the bidding for Thailand's Pink and Yellow monorail lines on behalf of "BSR Joint Venture”. RATCH can capitalize on expertise in power and electrical system management to implement the project for success. In addition, the company is interestingly studying various infrastructure projects in neighboring countries. For new investment in power business, RATCH is conducting feasibility study for many fossil-based greenfield and brownfield projects in neighboring and ASEAN countries where power demand is continuously increasing. It will be take certain time for thoroughly assessing risks and returns of those projects before conclusion. Obviously, the 42-MW Collinsville solar power station in Australia, recently received AUD9.5-million funding from Australian Renewable Energy Agency or ARENA, is under process of negotiation with potential off-taker and sourcing for project financing that would be finished in early 2017," Mr. Rum added.

For financial results in the first-nine months of 2016, the company recorded the 39.283-billion-baht revenues which included 31.4-billion-baht electricity sales from Ratchaburi and Tri energy power plants. Profit sharing of investments in joint ventures amounted to 1.771 billion baht, rising 154%. The cost and expense totaled 33.39 billion baht, decreasing by 16% from same period last year. Regarding the company's financial position as of September 30, 2016, the company booked 91.927-billion-baht total assets, 31.834-billion-baht liabilities, 60.093-billion-baht shareholder's equity, 7.226-billion-baht cash and investment capital and 45.861-billion-baht retained earnings.

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