Bangkok--6 Aug--Glow Energy
- EBITDA and NNP increased by 63% and 86% respectively Year-on-Year
- 2013 interim dividend payment declared at 0.851THB/share, 5% increase from 2012
EBITDA and NNP increased by 63% and 86% respectively Year-on-Year.
For the second quarter of 2013, Glow Group (“Glow”) posted:
- Consolidated total revenue of THB 16,928 million,
- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) of THB 4,420 million,
- Net Profit of THB 1,217 million, and
- Normalized Net Profit (“NNP”) (net profit excluding foreign exchange gains/ losses and deferred tax incomes/expenses) of THB 1,893 million.
For the first half of 2013, Glow Group (“Glow”) posted:
- Consolidated total revenue of THB 34,392 million,
- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) of THB 8,893 million,
- Net Profit of THB 3,709 million, and
- Normalized Net Profit (“NNP”) (net profit excluding foreign exchange gains/losses and deferred tax incomes/expenses) of THB 3,917 million.
The EBITDA and NNP of the first half increased by 63% and 86% year-on-year respectively, while the EBITDA and NNP of the second quarter increased by 97% and 107% year-on-year respectively.
The key drivers for increased results continue to be strong performance of Cogeneration Business and contribution of expansion projects. Comparing to last year, expansion projects including 660 MW coal-fired IPP (GHECO-One) and 110 MW gas-fired SPP (GSPP12) also provided substantial contribution to the results.
Mr. Esa Heiskanen, CEO of Glow, commented: “Our results for the first half 2013 clearly reflected the contribution from expansion programs which have increased our production capacity by around 80%. Even though big portion of expansion capacity, especially in Cogeneration Business, already came on-line since 2012, the results of 2012 was pressured by tight industrial customer electricity sale margin. With the margins returning to normal level, the Cogeneration Business results became main driver for increased profitability for the first half 2013.”
2013 interim dividend payment declared at 0.851 THB/share, 5% increase from 2012
Mr. Suthiwong Kongsiri, CFO of Glow Group, added: “The Interim dividend of 2013 will be 0.851 THB/share, which is 5% increase from 2012. The interim dividend announced is approximately 32% of Normalized Net Profit for the first half of 2013; whereas our dividend payment policy is to pay out total annual dividend not less than 50% of Normalized Net Profit for the year.”
For further details please contact:
Natthapatt Tanboon-ek
Glow Energy Plc.
Tel. 02-670-1500-1
Email :
[email protected]