Bangkok--Nov 11--Ratchaburi Electricity
Ratchaburi Electricity Generating Holding PCL. [SET symbol: RATCH
] today announces its audited consolidated financial statement of the Company and subsidiaries in 9-month period of 2004 ended September 30, 2004. The Company recorded net profit of 4,959.48 million baht or earning per share at 3.42 baht, increasing by 809.17 million baht or 19.65% of 4,150.31 million baht from the same period of 2003.
For the 9-month audited financial statement of 2004, the Company’s consolidated total revenue was 30,245.42 million baht, consisted of electricity sales of 29,988.12 million baht, interest income of 108.04 million baht, sharing profit of an associated and joint-venture companies amounted to 119.77 million baht and other income of 29.49 million baht.
The Company’s total costs and expenses was 24,333.07 million baht, consisted of cost of sales amounted to 23,978.76 million baht, selling and
administrative expenses of 346.27 million baht and other expenses of 8.04
million baht. Meanwhile, the Company’s interest expense and income tax were
952.87 million baht.
Mr. Boonchoo Direksathapon, Managing Director of Ratchaburi Electricity Generating Holding Public Company Limited said that the Company has a satisfactory profit growth in the first 9-month of 2004 performance due to the power plant’s capability to generate power that met the Company’s target. In addition, the Company has realized the profit sharing from its associated and joint-venture businesses. The Company is continuously developing and conducting feasibility studies of new projects in preparation for the new Power Development Plan (PDP) which in the near future the government may open bid widely to the Independent Power Producers (IPPs) for the electricity generation market. Thus, the Company
is very confident in funding for new investment and specialized human resources to compete with the market.
For the third quarter of 2004 audited financial statement (accounting period of 1 July — 30 September, 2004), the Company recorded the consolidated net profit of 1,897.52 million baht or earning per share of 1.31 baht. Whereas the Company’s consolidated total revenue was 10,668.94 million baht, consisted of electricity sales of 10,544.12 million baht, interest income of 41.23 million baht, sharing profit of an associated and
joint-venture companies amounted to 66.25 million baht and other income of 17.34 million baht. The Company’s total costs and expenses was 8,456.46
million baht, consisted of cost of sales amounted to 8,335.01 million baht,
selling and administrative expenses of 118.69 million baht and other
expenses of 2.76 million baht. Meanwhile, the Company’s interest expense and income tax were 314.96 million baht.
As at September 30, 2004, the Company and its subsidiaries’ total assets were 70,366 million baht. The Company had total liabilities of 43,425 million baht and shareholders' equity valued at 26,941 million baht. The company’s financial status is demonstrated by its ratio of debt to equity
at 1.61 times and debt service coverage ratio at 2.76 times. End.