Bangkok--15 May--Glow Energy
- EBITDA increases by 42% Year-on-Year and 21% Quarter-on-Quarter
- Industrial customer sales volume increased significantly while electricity sale margin still below normal levels
- 2011 dividend of 2.01 THB/share, increasing 5% from last year
EBITDA increases by 42% Year-on-Year and 21% Quarter-on-Quarter
For the first quarter year 2012, Glow Group (“Glow”) posted:
- Consolidated total revenue of THB 12,579 million,
- Earnings Before Interest Taxes Depreciation and Amortization (“EBITDA”) of THB 3,214 million,
- Normalized Net Profit (“NNP”) (net profit before foreign exchange gains and losses) of THB 1,186 million, and
- Net Profit of THB 1,550 million.
The EBITDA of the first quarter year 2012 increased by 42.3% year-on-year and 21.3% quarter-on-quarter, while NNP increased by 18.3% year-on-year and 33.6% quarter-on-quarter.
Industrial customer sales volume increased significantly while electricity sale margin still below normal levels
For the first quarter year 2012, sales volume of electricity and steam to industrial customers increased by 16% and 34%, year-on-year, respectively. Average gas cost increased approximately 29%, while electricity tariff increased only 5%, leading to tightening margin of electricity sales to industrial customers.
Mr. Esa Heiskanen, CEO of Glow Group, commented: “For the first quarter of 2012, growing industrial customer sales volume is the key positive driver to our performance, thanks to rapid demand recovery of existing customers from the flood impact last year and gradual increase in consumption by new customers of our new 382 MW facility, which started commercial operation in October 2011. On the other hand, key negative driver for the first quarter is the continued tighter industrial customer electricity sales margin. As gas price continued to rise while electricity tariff remained relatively unchanged, electricity sales margin continued to be squeezed.
2011 dividend of 2.01 THB/share, increasing 5% from last year
Mr. Suthiwong Kongsiri, CFO of Glow Group, added: “We have announced year-end dividend for fiscal year 2011 for the amount of 1.238 THB/share, which is on-top of interim dividend of 0.772 THB/share distributed to shareholders in September 2011. The total dividend for 2011 of 2.01 THB/share was increased again by 5% from the year before, which has been the case since our listing in 2005.”
About Glow Energy
Glow Energy is a member of the Glow Group who is a major energy player in Thailand. Glow Group combined installed capacity is 2,416 MW (Glow’s stake is 2,331 MW) of electricity and 1,206 tons per hour of steam.
Glow Group generates and supplies electricity to the Electricity Generating Authority of Thailand (EGAT) under Thailand's SPP (Small Power Producer) and IPP (Independent Power Producer) programs, as well as electricity, steam, industrial water and services to large industrial customers principally located in the Map Ta Phut area and nearby.
IPR-GDF SUEZ Asia is Glow Energy’s major shareholder and is part of the GDF SUEZ Group, one of the largest international industrial and services groups in the world.
For more information about GDF SUEZ please visit the companies’ website at www.gdfsuez.com. Information on International Power Plc: www.iprplc-gdfsuez.com. For more information about the Glow Group please visit www.glow.co.th.
For further details please contact:
Natthapatt Tanboon-ek
Glow Energy Plc.
Tel. 02-670-1500-1
Email :
[email protected]