Nonthaburi - RATCH Group Public Company Limited announced its 2023 operating performance with earnings before interests, taxes, depreciation, and amortization (EBITDA) of THB14.124 billion and THB5.167 billion profits. The Company's Board of Directors in the 4/2024 meeting on 27 February 2024 approved a THB3.48 billion dividend for the shareholders, equivalent to THB1.60 per share which payment is expected to be made on 23 May 2024 after gaining approval from the annual shareholders meeting on 23 April 2024.
Ms. Choosri Kietkajornkul, Chief Executive Officer of RATCH Group stated that the operating performance in 2023 remains stable and strong proven by EBITDA growing up 10 percent from 2022, despite a decrease in electricity sales revenue and generation particularly due to lower dispatch demand of customers and the power plants planned outage. This year, the power generation business contributed THB48.275 billion in income representing 95 percent of a THB50.648 billion total revenue, and infrastructure and other businesses generated THB2.373 billion, while total costs and expenses dropped by 40 percent mainly from a decrease in sales and service costs. For the 2023 dividend payment, the Board of Directors agreed on returns of THB3.48 billion from the 2023 net profit representing 67 percent to the shareholders which will seek approval from the Annual General Meeting on 23 April 2024 and the payment expects to be made on 23 May.
“The Company is striving for growing business with an aim to create stable and sustainable returns for shareholders and stakeholders in the value chain. The company's performance in 2023 contributed a return on equity at 5.14 percent, together with other economic values in the form of operating costs and expenses to stakeholders. For 2024 operations, the company continues the five focuses on investment for business expansion, completion of the committed under-development and under-construction projects within the specified budget and timeframe, asset management, cost and expense management, and enhancement performance of governance, environment, and society. The Company believes that the said approaches will enable us to create economic, environmental, and social values meeting the business goals in 2024,” Ms. Choosri said.
In 2024, the Company has provisioned a THB30 billion budget for investing in new projects both in the power generation and non-power businesses, and for subsidizing under-development and construction projects with equity capacity of 2,944.18 MW, as well as the Pink-line monorail project and extension part, the PRINC Hospital Mukdahan, and the operation and maintenance of Motorway No.6 and No.81. Besides, it pays more attention to enhance asset efficiency not only for generating income, but also reducing greenhouse gas emissions, and following up the power plants planned to operation in this year including Hin Kong Power Plant Unit 1 scheduled to distribute electricity to Electricity Generating Authority of Thailand in upcoming March.
The Company's financial position as of 31 December 2023 recorded total assets of THB213.479 billion, total liabilities of THB106.346 billion, and total shareholders' equity of THB107.133 billion. A debt-to-equity ratio was at 0.99 times.
For the THB1.60 dividend per share of 2023, the Company already paid the interim dividends at THB0.80 per share for the first half of 2023 operating performance with a total amount of THB1.740 billion on 15 September 2023, so the remaining of THB0.80 per share valued of THB1.740 billion will be paid after gaining approval from the shareholder meeting.