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RATCH posts 3.56-billion-baht profit for 1H2017, rising 51% Invested three new projects, Expecting 7,500MW target to be achieved this year

NonthaburiRatchaburi Electricity Generating Holding Public Company Limited (RATCH) reported its operating performance for the first half of 2017. RATCH’s business continued to grow satisfactorily, with 3.559-billion-baht profit, rising 50.8% over year and the earning per share of 2.45 baht. In addition, the company has jointly invested in three new projects, including the pink and yellow lines of monorail projects, the gas-fired combined-cycle Riau power plant in Indonesia and a solar farm in Australia, with combined equity capacity of 360 megawatts equivalent. Thus, the total capacity increased to 7,373 megawatts equivalent.

Mr. Kijja Sripatthangkura, RATCH CEO, said that RATCH still committed to achieving the 7,500-MW growth in this year. For the first half of 2017, the company showed the operation progress of 98% of this year’s growth target. The higher profit reflects higher efficiency of power plant assets in generating better return. Expectedly, the company will be able to accomplish the target due to combined 1,002-MW domestic and overseas projects that are in the negotiation progress. Some will likely be finalized by this yearend.

 “This year, RATCH looks for new investment ventures to accelerating capacity particularly in power plants, renewable projects, infrastructure and non-energy and power business in ASEAN countries and China where economy is growing continuously. Meanwhile, power plant’s efficiency management is highly taken into consideration to sustain steady revenues. Especially, 1,878-MW Hongsa power plant in Lao PDR has been planned around 80% of Equivalent Availability Factor (EAF). Construction of four power plants with combined capacity of 517 megawatts is closely followed to ensure the progress as planned timeline. The Mount Emerald wind farm with 144.36-MW equity capacity in Australia is scheduled commercial operation in 2018,” Mr. Kijja added.

For the first six month of 2017, the company has successfully increased combined 360 MW equivalent from three new investments, including 191-MWe yellow and pink lines of the monorail projects, 134.75-MW Riau power plant in Indonesia and 34-MW Collinsville Solar PV project in Australia. It consequently drives total equity capacity to 7,373 megawatts equivalent.   

It also has four projects under-construction, with the total capacity of 517 megawatts that show tangible progress as planned. There are Mount Emerald wind farm (144.36 MW by equity) in Australia, with operation scheduled in 2018, Xe-Pian Xe-Namnoy hydroelectric power project (102.5MW by equity) in Lao PDR to be commercially operated in 2019, Berkprai cogeneration power plant (34.73MW by equity) planned to operate in June 2019, and Fangchenggang nuclear power plant phase II, in China (236MW by equity) scheduled commissioning in 2021.  

In the first half of 2017, the company posted the 23.124-billion-baht revenue. Recognized revenue excluding the fuel cost of subsidiary was 7.959 billion baht, of which electricity sales and financial lease revenue was the most proportion of 71.6%, followed by revenue and profit sharing from investment in joint ventures of 24.0%, rising significantly in this period due to contribution from Hongsa power plant. Cost and expenses totaled 19.912 billion baht, declining by 18%.

For financial status as of June 30, 2017, the company recorded the total asset of 97.114 billion baht, the liabilities of 33.730 billion baht, the shareholders’ equity of 63.384 billion baht, and the retained earnings of 50.572 billion baht.

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