Bangkok--Jan 31--Ratchaburi Electricity
Ratchaburi Electricity Generating Holding PCL. [SET symbol: RATCH
] reported its consolidated financial statements of the Company and subsidiaries for the operating fiscal year of 2005 ending December 31, 2005. The Company recorded an unaudited net profit of 6,066.36 million baht or dividend per share of 4.18 baht which was 420.67 million baht or 6.48 % decrease from net profit of 6,487.03 million baht or dividend per share of 4.47 baht recorded in the same period of 2004. The main reasons of such decrease were resulted from Ratchaburi Electricity Generating Company Limited, a core subsidiary, has recorded the maintenance expenses in 2005 for its all Combined-Cycle and Thermal Power Plants amounted to 1,282.53 million baht increasing by 894.22 million baht from the year 2004.
In addition, the Company has recorded the administration expenses for the year 2005 of 961.01 million baht increasing by 498.04 million baht from the previous year. This is due to on July 25, 2005, Ratchaburi Electricity Generating Company Limited has refinanced the whole amount of its outstanding loan and recorded the expenses of this transaction consisting the prepayment fee amounted of 229.69 million baht and the written off deferred financing fee amounted of 236.52 million baht. However, this refinancing scheme has reduced the interest expenses of the company in amount of 2,347.93 million baht through its contract year-term.
For the operating fiscal year of 2005, the Company’s consolidated total revenue was 44,836.83 million baht increasing by 10.94% from the year of 2004, which consisted of electricity sales of 44,034.96 million baht, interest income of 278.51 million baht, sharing profit of the subsidiaries 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) Siam Ethanol Exports Company Limited (held by Ratchaburi Energy Company Limited at 15% stake) SouthEast Asia Energy Limited (at 25% stake) and Chubu Ratchaburi Electric Services Company Limited (at 50% stake) amounted to 372.01 million baht, compensation revenue received from Combustion System improvement of 372.01 million baht, and other income of 45.35 million baht.
As at December 31, 2005, the Company and its subsidiaries’ total assets were 69,925 million baht. The Company had total liabilities of 38,436 million baht and shareholders' equity valued at 31,489 million baht. The company’s financial status is demonstrated by its ratio of debt to equity at 1.22 times, debt service coverage ratio at 2.33 times, and book value of share at 21.72 baht.
Ratchaburi Electricity Generating Holding PCL is a Thailand leading investment firm in power generation business with total installed capacity of 4,345 Megawatts. At present, the Company has invested in power plant projects namely; 3,645-Megawatt Thermal and Combined-Cycle Power Plant of Ratchaburi located in Ratchaburi Province, 350-Megawatt Combined-Cycle Power Plant of Tri Energy located in Ratchaburi Province, 350-Megawatt Combined-Cycle Power Plant of Ratchaburi Power located in Ratchaburi Province, and 153.75 Megawatt Hydroelectric Power Plant of Nam Ngum 2 located in the Lao People's Democratic Republic (Lao PDR).
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
Email: [email protected] , [email protected] End.