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RATCH posts a 6.107-billion-baht profit, with a 25-billion-baht investment budget for business expansion in 2018

  • Aim to reach the capacity goal of 8,250 MWeq
  • Expect the shareholders' meeting to approve the 3.480-billion-baht dividend payment equivalent to 2.40 baht per share

Nonthaburi - Ratchaburi Electricity Generating Holding Public Company Limited (RATCH) announced its 2017 operating performance with a 6.107-billion-baht profit, decreasing 1 percent over year due to slight increase of operating cost and expenses (excluding energy payment). However, the profit sharing from joint ventures grew to 3.577 billion baht, up 23% as a result of Hongsa thermal power plant’s improved efficiency of equivalent availability factor (EAF) generating 2.018-billion-baht revenue. Regarding business goal and direction for 2018, the company plans to expand the generation capacity of 8,250 megawatts equivalent or increasing by 870 megawatts equivalent or 12% from the current installed generation capacity, with a 25-billion-baht investment budget provisioning for projects under construction and development as well as new investment this year.     

Mr. Kijja Sripatthangkura, RATCH CEO, said that RATCH continued to show a robust performance in 2017 as seen from the profit sharing of joint ventures and the availability payment of the key power plants that rose 23% and 11% respectively despite a slight decline of profit. The company expected shareholders to be gained 2017 dividend of 3.480 billion baht (2.40 baht per share), accounting for 57% of the annual profit. In September 2017, the 1.677-billion-baht interim dividend (1.15 baht per share) was paid, while the remainder of payment will be proposed to the shareholders’ meeting for consideration and approval on April 5, 2018.

 “To achieve the 8,250-MW goal, the company will focus on three businesses, namely electricity generation, infrastructure and fuel at home and internationally where six projects in pipeline show investment possibility.  This year, acquisition of operating projects is more focused with target of 370 megawatts to ensure steady and stable revenues and cash flow of the company. At the same time, greenfield and brownfield investment will look further for 500 megawatts. It projects investment spending of around 25-billion-baht in this year which will derive from the company outstanding cash and fund-raising in financial market: 15 billion baht used for existing projects and 10 billion baht for new investments,” Mr. Kijja added.

This year, there are two projects in Australia scheduled to operate commercially: 34-MW Collinsville solar power project to be generated in July and 144.36-MW Mount Emerald wind farm to be operated in September which will add the company’s  commercial capacity to 6,674 megawatts.

For overall 2017 performance, RATCH realized 8.357-billion-baht earnings before interest expenses and tax, 46.438-billion-baht revenues, and 15.094-billion-baht revenues excluding the energy payment. The availability payment income from Ratchaburi and Tri Energy power plants as well as the profit sharing from Hongsa power plant rose significantly. Considering revenue structure in 2017, there are three main sources, including revenues from sale and service as well as financial lease of 70.6% of total revenues, profit sharing from joint ventures of 24.9% and interest income and others of 4.5%.

For the financial position as of December 31, 2017, the company recorded the total asset of 94.225 billion baht, the liabilities of 30.944 billion baht, the shareholders’ equity of 63.281 billion baht, cash and investment of 10.011 billion baht and the retained earnings of 51.452 billion baht.

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