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RATCH records 6.287-billion-baht profit of 2020, Approval of dividend payment at 1.25 Baht/share made on 23 April 15 billion-baht allocated for business expansion this year

Nonthaburi: RATCH Group Public Company Limited (RATCH) announced its 2020 operating results of 6.287 billion-baht profits, growing 5.4% over year and representing earnings per share at 4.34 baht. The company will seek an approval from the shareholder’s general meeting for dividend payment of 2020 operating results at 2.40 baht per share, totaling 3.48 billion baht. In 2021, RATCH has set aside 15-billion baht to invest in existing and new projects by aiming to increase additional 700 MW from its current 8,174-MW capacity. Meanwhile, infrastructure and energy-related projects under feasibility study and negotiation have been continued further from previous year, including a joint investment in an innovation company with EGAT group, the District 9 Project: Digital Industrial Zone and Smart Community, LNG supply, and wood pellet project.

Mr. Kijja Sripatthangkura, Chief Executive Officer of RATCH said that 2020 operating results was enhanced by significant performance of the Hongsa Power Plant and SPP power plants, including immediately recognized a profit sharing of Thang Long thermal power plant through ABIEF fund in Vietnam. The total income in 2020 amounted to 39.522 billion baht composed of 94.8% of its core power generation business, divided into approximately 68.9% of IPP revenues, 15.7% of SPP and 10.2% of renewable power plants, while the overall profit sharing of joint ventures in 2020 impressively increased 15.9% to 4,600 million baht. According to 700-MW target in 2021, the company will put investment into conventional power projects of 455-MW capacity in total and 245-MW capacity of renewable energy power plants, as well as allocating 7-billion-baht investment budget for new projects. The company’s total capacity by equity will rise to 8,874 MW this year if the mission is accomplished.

“To achieve the 700-MW target, the company plans to carry out M&A projects for total 350-MW capacity, which enables to strengthen its cash flow and income. We aim Taiwan, South Korea and Japan as new growing markets of renewable energy business in order to support its 2,500-MW renewable target in 2025, as well as wood pallet business. Additionally, collaboration with existing business partners will be further for new joint ventures. For infrastructure and energy related businesses, it will drive projects in pipeline into conclusion and operations; consisting of a joint venture with EGAT group in energy innovation company which is expected to establish the joint venture company this year, a production plants of wood pellet in Thailand and Lao PDR, and LNG supply project. The financing plan to support the investment target has already prepared and the company is confident that our target will be succeeded,” said Mr. Kijja.

In 2021, RATCH’s revenues will be realized from four commercialized power plants with 537.04 MW of equity capacity, including two power plants in Australia; 149.94-MW Yandin wind farm (70% stake) and 226.8-MW Collector wind farm (100% stake), the 145.15-MW Riau combined-cycle power plant in Indonesia (49% stake), and 15.15-MW Thanh Phong Wind Farm in Vietnam (51% stake). For existing operating power plants of total 6,700-MW equity capacity, RATCH will put the best efforts in generation efficiency management, control of fuel consumption, production cost and environmental quality management.

On February 15, 2021, the Board of Directors' Meeting No. 1/2021 approved a dividend payment for 2020 operating results of 2.40 baht per share, accounting for 3.48 billion baht. The dividend payment will be presented at the 2021 Annual General Meeting of Shareholders on April 5, 2021. The payment date would be effective on April 23, 2021. On September 23, 2020, the company paid an interim dividend for the first six months of 2020 (January - June 2020) of 1,667.5 million baht, or 1.15 Baht per share.

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