Bangkok--9 May--Glow Energy
- EBITDA and NNP increased by 39% and 71% respectively Year-on-Year
- 2012 total dividend payment declared at 2.111THB/share, 5% increase from 2011
- Glow Group participates in the third round of IPP bidding
EBITDA and NNP increased by 39% and 71% respectively Year-on-Year.
For the first quarter of 2013, Glow Group (“Glow”) posted:
- Consolidated total revenue of THB 17,463 million,
- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) of THB 4,474 million,
- Net Profit of THB 2,492 million, and
- Normalized Net Profit (“NNP”) of THB 2,024 million
The EBITDA and NNP of the first quarter increased by 39% and 71% year-on-year respectively, while increased by 14% and 36% quarter-on-quarter respectively. The quarterly NNP of THB 2,024 million is the highest level ever for Glow Group.
The increase of Normalized Net Profit (“NNP”) was mainly driven by profit of Cogeneration Business. Sale volume and consumption continued to be stable at high level. Margin of electricity sale to industrial customers from gas-fired production is back to close to normal level, especially compared with the first half of 2012 when the Ft was not adjusted to reflect the rising gas price. Benefits of lower coal price locked in since the second half of 2012 gradually materialized, but are not yet fully reflected in our coal cost for the first quarter, due to higher price coal inventory impacting average coal price for the quarter.
Mr. Esa Heiskanen, CEO of Glow, commented: “ We are satisfied with performance of the first quarter 2013. Our Cogeneration Business performed very well. In addition to the fact that operating margin returned to normal level and customer demand continued to be stable, we also received full benefits from generation of our coal-fired units, comparing to the second half of 2012 when we had major maintenance of all 3 Cogeneration coal-fired units. However, we expect that scheduled warranty maintenance of Gheco-One from middle of May to end of June could lead to weaker results in the second quarter.”
2012 total dividend payment declared at 2.111 THB/share, 5% increase from 2011
Mr. Suthiwong Kongsiri, CFO of Glow Group, added: “We have announced year-end dividend for fiscal year 2012 for the amount of 1.301 THB/share, which is on-top of interim dividend of 0.810 THB/share distributed to shareholders in September 2012. The total dividend for 2012 was increased again by 5% from the year before, which has been the case every year since our listing in 2005.”
Glow Group participates in the third round of IPP bidding
Glow Group submitted two proposals, with proposed contracting capacity of either 2,200 MW or 1,100 MW, in the third round of IPP bidding. The proposed project is located at Eastern Seaboard Industrial Estate, Rayong.
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 3,188 MW (Glow’s stake is 2,872 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.
GDF SUEZ Energy 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. 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]