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RATCH Group posts 1.74-billion-baht profit for Q1/2019 Berkprai Cogeneration’s revenue to be recognized in the next quarter

Nonthaburi - RATCH Group Public Company Limited or “RATCH Group” (formerly known as Ratchaburi Electricity Generating Holding Public Company Limited) announced its operating performance for the first quarter of 2019 of 1.74 billion baht, rising 54.6% over the first quarter of 2018 due to the increase in the total revenues and gains from foreign exchange. In upcoming June, the company will recognize profit sharing from Berkprai Cogeneration Power Plant, owned 35% stake by RATCH Group.

Mr. Kijja Sripatthangkura, RATCH Group CEO, said that the continuing growth for this quarter was supported by various drivers including electricity sales from the core power plants and higher profit sharing from joint venture companies compared to the first quarter of last year, coupled with foreign exchange profits.

“The company pays more attention to efficiency management of the power plants to meet contractual availability requirements and ensures progress of under-construction projects as specified schedule. In June 2019, the 99.23-MW Berkprai Cogeneration Power Plant will commence commercially dispatch for Electricity Generating Authority of Thailand (EGAT) which will help boost the profit sharing from joint ventures. In addition, the company will further invest in power plant, energy and infrastructure businesses in Thailand and abroad to reach the 200-billion-baht enterprise value or 10,000 megawatts equivalent in 2023,” Mr. Kijja said.

For the operating performance in the first quarter of 2019, the company booked the 11.23-billion-baht total revenues, rising 12.5%, mainly derived from the 9.25-billion-baht electricity sales (accounting for 82.3% of the total revenues) of Ratchaburi Power Plant, Tri Energy Power Plant and RATCH-Australia Corporation Pty. Ltd and 1.08-billion-baht profit sharing of joint venture companies.

In addition, the company’s various on-going investment projects reported satisfactory progress: 42.5-MW Collinsville Solar Farm in Australia that has been commercially operated, the success in entering into USD-222-million loan facility (approximately 7.10 billion baht) for 275-MW Riau Combined-Cycle Power Plant, AUD179-million loan agreement (approximately 4.12 billion baht) of Collector Wind Farm in Australia, and the complete construction of 99.23-MW Berkprai Cogeneration Power Plant that is in process of the commissioning test, with the commercial operation schedule in this upcoming June.

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