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RATCH Group posted THB5.058 billion profit in first 9 month of 2019 Expected revenues from RATCH Cogeneration power plant this year, Prepared for infrastructure project biddings domestically

Bangkok- RATCH Group Public Company Limited today announced 9-month operating performance in 2019. It recorded THB 5,058.41-million profits. RATCH Group has recently invested over THB2 billion to acquire 99.97% equity stake of Navanakorn Electric Company Limited (recently renamed RATCH Cogeneration Company Limited), enabling it to recognize income immediately, as well as extend potentiality in supporting power security in the Nava Nakorn Industrial Promotion Zone. Nevertheless, the company has been searching for infrastructure project investment and was recently awarded through BGSR Consortium the Operation and Maintenance of Bang Pa-In to Nakhon Ratchasima and Bang Yai to Kanchanaburi Intercity Motorway, valuing of THB60 billion approximately.

Mr. Kijja Sripatthangkura, Chief Executive Officer of RATCH Group, said that the first 9-month performance demonstrated progress towards target, proven by continued growth of earnings and investment expansion in both power and infrastructure sectors, including the 99.97% share acquisition of 119.11MW-RATCH Cogeneration power plant, 70% share purchase in 214.2-MW Yandin wind farm and 226.8MW- Collector wind farm in Australia. Consequently, the company recognized combined equity capacity of 446.57 MW. For infrastructure investment, the company through BGSR Consortium joined in and won the Public-Private-Partnership for the Operation and Maintenance of Bang Pa-In to Nakhon Ratchasima, valuing of THB33 billion and Bang Yai to Kanchanaburi Intercity Motorway, valuing of THB28 billion.

In the period, RATCH has realized profit sharing from Berkprai Cogeneration power plant (35% shareholding) that just commenced the operation last June and the Asaha-1 Hydroelectric power project in the Republic of Indonesia, share purchase of 26.61% made last year end. Besides, it expects that revenues derived from RATCH Cogeneration power plant and Xepian Xenamnoy Hydroelectric power project will be realized by end of this year as well as entire year of 2020 and help strengthen the company’s financial stability.

“RATCH forecasts that the investment in RATCH Cogeneration power plant will help create the industrial customer bases. Its capacity potential can support high demand of electricity of industrial customers in the Nava Nakorn Industrial Promotion Zone. As a partner of Navanakorn power plant located in Nava Nakorn Industrial Promotion Zone, it is possible to seek collaboration for RATCH Cogeneration to supply electricity for the industrial sector.

Additionally, the company relentlessly looks for more infrastructure project by joining hands with BSR Group as its strategic partners to participate in the bidding for the Public-Private Partnership scheme including public transportation, telecommunication and other public services of which numerous projects are under feasibility study for potential investment”, said Mr. Kijja.

As of 30 September, RATCH has booked the revenues and profit sharing from the operating power plants in Thailand and aboard with total of 7,057 Megawatts equity capacity. The under-construction projects scheduled to operate by this year end to 2020 comprise of the 102.5-MW Xepian-Xenamnoy Hydroelectric power project, the 24-MW Nava Nakorn expansion power project and the 149.94-MW Yandin wind farm. At result, the company will recognize revenues generating from newly commercial operating capacity of 276.43 MW. The new commercial capacity will increase to 395.54 MW in 2020 plus by RATCH Cogeneration fully realized income next year. It consequences total operating capacity of the company in 2020 increasing to 7,333.11 MW out of the 9,341 MW investment capacity.

For the first nine-month operating performance of 2019, the company reported the 33.61-billion-baht total revenues, mainly derived from the 27.38-billion-baht electricity sales of Ratchaburi Power Plant, Tri Energy Power Plant and RATCH-Australia Corporation Pty. Ltd, accounting for 81.5% of the total revenues, and 3.52-billion-baht profit sharing of joint venture companies, accounting for 10.5 % of the total revenues. The company recorded 5.06 billion baht in net profit, rising 2.4 % over the same period of 2018.

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