Bangkok--Nov 9--Ratchaburi Electricity Generating Holding
Ratchaburi Holding Reports the 9-month period of 2005 Operating Performance Increased by 10.62% and Investment in Nam-Ngum 2 to Increase Its Installed Capacity to 4,498.75 Megawatts
Ratchaburi Electricity Generating Holding PCL. [SET symbol: RATCH
] today announces its audited consolidated financial report of the Company for the first 9-month operating performance of 2005 (January - September, 2005). The Company recorded net profit of 5,486.12 million baht or earning per share at 3.78 baht, increasing by 10.62% from the same period of 2004.
For the 9-month period of 2005, the Company’s consolidated total revenue increased by 15.01% amounted to 34,784.69 million baht, which consisted of electricity sales of 34,251.13 million baht. The rest of revenues came from the sharing profit of the subsidiaries and joint-venture companies namely Tri Energy Company Limited, Ratchaburi Power Company Limited, and Siam Ethanol Exports Company Limited amounted to 210.72 million baht, and other income of 138.32 million baht.
Mr. Thawat Vimolsalavong, Deputy Managing Director — Business Ventures and Acting 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 year 2005 operating performance which due to the Company’s stable income received from dividend payment of 2 majors subsidiaries of the Company namely Ratchaburi Electricity Generating Company Limited, operating the 3,645-Megawatt Ratchaburi Power Plant and Ratchaburi Gas Company Limited, making the investment in the 700-Megawatt Tri Energy Power Plant. This reflects the efficiency on the administrative management of both subsidiaries and efficiency on remaining the availability payment in the standard level of the EGAT PCL., which is the solid buyer of the Company.
For the 9-month period of 2005, the Company’s total costs and expenses increased by 16.42% or amounted to 28,328.21 million baht because of the debt restructuring of 34,262 million baht of the Company’s subsidiary namely, the Ratchaburi Electricity Generating Company Limited in July 2005.
This transaction had the expenses in the total of 466.21 million baht. However, the debt restructuring will reduce the Company’s burden on interest payment through out the debt-restructuring agreement by 2,347.93 million baht. By the year 2005, the Company’s interest payment will be reduced approximately 196.26 million baht.
Apart from that, the company has been invested in the Hydroelectric Power Plant — Nam Ngum 2 in order to increase the total installed capacity and the revenue of the Company. Currently, on November 3, 2005, the Company signed the Shareholders Agreement and acquires the 25% shareholding stake of SouthEast Asia Energy Company Limited (“SEAN”), which is the subsidiary of the CH. Karnchang Public Company Limited. The total investment cost will amount to 2,347.93 million baht by using the Company’s cash flow. This investment will increase another 153.75 Megawatts for the Company’s total installed capacity of 4,498.75 Megawatts.
Mr. Thawat Vimolsalavong said “the hydroelectric power project of Nam Ngum 2 is a large project which gives the good return on the investment. Importantly, this project holds a long-term Power Purchase Agreement (PPA) with EGAT PCL., which enhances the Company’s steady revenue. Moreover, this investment has formed a strategic business partner, CH. Karnchang Public Company Limited, which can increase the opportunity of the Company for the other future investment projects in Lao.”
The hydroelectric power project of Nam Ngum 2 is located in Loa People’s Democratic Republic (Lao PDR) with the total installed capacity of 615 Megawatts, operating by the CH. Karnchang Public Company Limited. This project will begin supplying electricity power to Thailand in 2010.
Ratchaburi Electricity Generating Holding PCL is a Thailand leading investment firm in power generation business with its total installed capacity of 4,498 Megawatts. At present, the Company has invested in 4 power plant projects namely; 3,645-Megawatt Thermal and Combined-Cycle Power Plant of Ratchaburi located in Ratchaburi Province, sharing 350-Megawatt Combined-Cycle Power Plant of Tri Energy located in Ratchaburi Province, sharing 350-Megawatt Combined-Cycle Power Plant of Ratchaburi Power located in Ratchaburi Province, and sharing 153-Megawatt Hydroelectric Power Plant of Nam Ngum 2 located in Lao PDR.
For more information please contact:
Charusuda Boonkerd / Wiwan Phayakvichien
Public Relations Department Ratchaburi Electricity
Generating Holding PCL.
Tel. 0 2978 5061-4 Fax 0 2937 9321 End.