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RATCH recorded THB3.694-billion increasing 13% in first half of 2019, Pursuing acquisition of renewable projects in Australia and PPP projects in Thailand and ASEAN

  • Prepared for more investments in renewable energy in Australia after the success of a joint-venture Yandin wind farm project in Western Australia state
  • Acquisition of total 1,776.74 MW capacity from three power projects including two in Australian and one in Thailand in the first 6-month of this year
  • Ready to participate in bidding for PPP projects in Thailand and ASEAN, build up the infrastructure base pursuing the corporate vision

Nonthaburi - RATCH Group Public Company Limited (RATCH) announced its operating performance for the first half of 2019 that indicated continuing growth both in business expansion and operating results. The company gained 3.69 billion baht profits, rising 13.4% over the first half of 2018, and realized the income sharing from two commercially operating power plants with total equity capacity of 77.23 MW. In addition, RATCH successfully invested in three new power projects enhancing its generating equity capacity of 1,776.74 MW in total.

Mr. Kijja Sripatthangkura, RATCH Group CEO, said that the company's operating performance reflects the business growth and financial stability, demonstrated by the new investment in three power projects of 1,776.74 MW in total, two of which are large-scale wind farms located in Australia namely; Collector and Yandin projects. The success in the joint-venture Yandin project is considered a critical step for RATCH to build business platform in Western Australia, a major state of Australia. Also, RATCH is confident of potentiality and capability to pursue opportunity of investment from the national Power Development Plan 2018 and Public-Private Partnership projects both in Thailand and ASEAN, together with energy service management business for industrial factories which is under research and development stage.

"For this year, our investment strategy focuses more on the joint ventures or partnership scheme in forms of acquisition of existing operation, brownfield and greenfield projects in order to maximize the effectiveness of investment capital and return. In the first half of this year, RATCH invested in two wind farm projects in Australia that are the wholly-own 226.8-MW Collector project and 214.2-MW Yandin project, jointly holding 70% stake, and the 1,400-MW gas-fired Hin Kong power plant in Thailand. For infrastructure business, RATCH has participated in the bidding for the projects including railway, motorway, and telecommunication projects with an aim to enhance its infrastructure business according to the goal. For progress of the under- construction Pink-Line and Yellow-Line monorail projects, it has been closely monitored to ensure the commercial operation on schedule by 2021", said Mr. Kijja.

In the first 6-month, RATCH recognized additional revenues from two projects that recently commenced operations. The wholly-owned Collinsville Solar Farm in Australia with 42.5 MW operated in March. Berkprai Cogeneration power plant with 34.73 MW by 35% equity proportion operated in June. Consequently, RATCH has recorded total commercially generating capacity of 6,937.58 MW according to the equity proportion.

For the operating performance in the first half of 2019, the company reported the 23.51-billion-baht total revenues, mainly derived from the 19.28-billion-baht electricity sales of Ratchaburi Power Plant, Tri Energy Power Plant and RATCH-Australia Corporation Pty. Ltd, accounting for 82% of the total revenues, and 2.36-billion-baht profit sharing of joint venture companies, accounting for 10% of the total revenues. The company recorded 3.69 billion baht in net profit, rising 13% over the same period of 2018. The earning per share is 2.55 baht.

For financial position as of June 30, 2018, RATCH recorded total assets of 99,156.02 million baht, liabilities of 39,550.93 million baht, shareholders' equity of 59,605.09 million baht.

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