Bangkok--Aug 11--Ratchaburi Holding
Ratchaburi Electricity Generating Holding PCL. [SET symbol: RATCH
] today announces its reviewed consolidated financial report of the Company and subsidiaries for the first 6-month operating performance of 2005 as at accounting period of January 1 - June 30, 2005.
The Company recorded net profit of 4,004.48 million baht or earning per
share at 2.76 baht, increasing by 30.78% from the same period of 2004. The Company has realized the first quarter net profit of 2,149 million baht and the second quarter net profit of 1,855 million baht For the first half of year 2005, the Company’s consolidated total revenue was 22,834.19 million baht increasing by 16.64% from the same period of 2004, which consisted of electricity sales of 22,601.96 million baht, interest income of 118.04 million baht, sharing lost of an associated and joint-venture companies namely Tri Energy Company Limited (held by
Ratchaburi Gas Company Limited at 50% stake), Ratchaburi Power Company Limited (at 25% stake) and Siam Ethanol Exports Company Limited (held by Ratchaburi Energy Company Limited at 15% stake) amounted to 6.73 million baht, revenue received from compensation of combustion system improvement for Ratchaburi Power Plant of 106 million baht and other income of 14.92 million baht.
Mr. Boonchoo Direksathapon, Managing Director, Ratchaburi Electricity
Generating Holding Public Company Limited said that the Company has satisfactory profit growth in the first half of year 2005 operating performance which due to the Company’s stable income received from dividend payment of its subsidiaries namely Ratchaburi Electricity Generating Company Limited and Ratchaburi Gas Company Limited. This reflects the readiness on availability payment of Ratchaburi Power Plant and Tri Energy Power Plant as good as target plan. Meanwhile, the Company is well aware of cost administration and management by focusing on interest saving of its business group. On July 25, 2005, the Company has restructured Ratchburi Power Generating Company’s debt of 34,262 million baht. Thus, this debt refinancing will reduce the Company’s burden on interest payment by 2,347 million baht through the operating year of 2015.”
The Company’s total costs and expenses were 18,198.72 million baht increasing by 14.63% from the same period of 2004, which consisted of cost of sales of 17,965.41 million baht, selling and administrative expenses of 227.44 million baht and other expenses of 5.87 million baht. Meanwhile, the Company’s interest expense was 570.30 and income tax was 60.70 million baht.
As the matter of the company’s debt restructuring by refinancing loan
amounted 24,262 million baht and the issuance of debentures worth 10,000 million baht, this will reduce the Company’s burden on interest payment from operating year 2005 to 2015 decreasing by 2,347 million baht. By this year, the Company’s interest payment will be reduced approximately 196.26 million baht.
Learn more about Ratchaburi Holding, visit our web site at www.ratch.co.th Information for media contact:
Charusuda Boonkerd / Wiwan Phayakvichien
Public Relations Department Ratchaburi Electricity Generating Holding PCL.
Tel. 0 2978 5061-3 Fax 0 2937 9321 End.