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RATCH posts 5.963-billion-baht profit of 2019, Provisioning 20 billion-baht for project acquisition in 2020

Nonthaburi: RATCH Group Public Company Limited (RATCH) announced its 2019 operating performance with 5.963 billion baht profit, rising 6.7% over year. In 2020, RATCH Group targets investment in power plant projects with combined 780-MW and infrastructure project for 5% of investment budget. The Company is currently negotiating for power project investment in Thailand and abroad and studying potential innovative and new S-Curve business as well as preparing to participate in the infrastructure project under Public Private Partnership (PPP) scheme.

Mr. Kijja Sripatthangkura, RATCH Group CEO, said that in the company recorded revenues from RATCH cogeneration power plant acquired majority stake in the last quarter of 2019, Berkprai cogeneration power plant staring operation in June 2019, as well as the power plants the Indonesian Azahan1 hydroelectric power plant invested equity in late 2018, and Mount Emerald wind farm in Australia commenced operation in 2018. The growing performance in last year reflected the company’s efficiency in cost management and foreign exchange risk management resulting to profit increasing 6.7% to 5.963 billion baht, representing earnings per share of 4.11 baht. Meanwhile, earnings before interest, income tax, amortization and foreign exchange recorded 9.996 billion baht. Regarding business direction in 2020, the company put more efforts on acquisition of the operating and Brownfield projects in order to gain returns and recognize investment value soonest. Subsequently, it could fill up the company’s revenues after the expired Tri Energy Power Plant in this year.

“RATCH expects this year to find conclusion of five domestic and foreign power plant projects. Regarding to the joint bidding under the BGSR Consortium for the Operation and Maintenance (O&M) of Intercity Motorway projects; Bang Pa-In – Nakorn Ratchasima (M6) and Bang Yai – Kanchanaburi under PPP Gross Cost scheme for 30-year tenure, the finalization is expected by the midyear of 2019. About 780-MW capacity target in 2020, the company has already accounted the decommissioning 720-MW capacity of Tri Energy power plant, of which 714-MW capacity of combined-cycle Hin Kong is substituted it. RATCH has allocated approximately 20 billion baht for further investment in the committed projects and merger & acquisition. The company is confident that it will achieve the target and maintained the capacity growth at 8,715.07-MW in this year,” Mr. Kijja added.

Domestic projects this year include RATCH cogeneration expansion phase, SPP projects and Independent Power Supply power plant projects. In abroad, the company pursues investment in coal-fired power project, hydroelectric power plant, renewable power plant in targeting countries; Vietnam, Lao, Indonesia, and Australia. As for the infrastructure projects, the investment will mainly stress in Thailand given huge potential opportunity in PPP projects and New S-Curve business related to innovation, new technology and Internet of Things enabling development of smart city and smart grid, energy management and energy storage system.

For the operating performance of 2019, the company recorded the 43.22-billion-baht total revenues, mainly derived from three main sources including the 38.364-billion-baht revenues from sale and service as well as financial lease, the 3.968-billion-baht profit sharing of joint venture companies and the 0.887-billion-baht interest and other incomes. For the financial position as of December 31, 2019, the company recorded the total asset of 100.229 billion baht and liabilities of 40.815 billion baht and the shareholders’ equity of 59.414 billion baht.

According to the company’s board of directors meeting at 2/2563 on February 18, 2020 has resolved the dividend payment of 2019 at 2.40 per share, accounted 3.48 billion baht in total. It will be proposed to shareholders’ meeting for consideration and approval at the shareholder’s annual general meeting of 2020 ‪on April 9, 2020‬. The interim dividend for 6-month operating performance of 2019 was already made on September 20, 2019.  ‬‬‬‬

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