Bangkok--30 Jan--Ratchaburi Electricity Generating Holding
Ratchaburi Electricity Generating Holding PCL., the leading independent power producer in the region, announced the Company and its subsidiaries’ unaudited operating performance for the year ended December 31, 2006 by marking the net profit of Baht 6,106 million or Baht 4.21 Baht per share which was slightly changed comparing to the performance of Year 2005 that showed net profit of Baht 6,066 million and 4.18 baht of earning per share.
Mr. Narong Sitasuwan, Managing Director of Ratchaburi Electricity Generating Holding PCL. (the Company) revealed that “ The Company’s performance in year 2006 was remarkable as the result from many factors. The Company received management service fee in the amount of Baht 143 million which considered as 4.10 times higher than in year 2005 which including the project development fee as specified in the Service Agreement dated 27 February 2004 from Ratchaburi Power Company Limited at Baht 101 million. According to the increasing in cash and cash equivalents and interest rate during year 2006, it then led to the increasing of company’s interest income to Baht 550 million or 97% from year 2005.
Moreover, the Company has recorded share of profit from joint ventures for the year 2006 at Baht 727 million, increasing by Baht 355 million or 96% from Baht 372.01 million in the year of 2005. It was due to in the year 2006, Tri Energy Company Limited recorded gain on foreign exchange in the amount of Baht 402 million whereas in the year 2005. For the revenue of the Availability Payment (AP) from Ratchaburi Power Plant in year 2006 was Baht 12,222 million which was 1% decreasing or Baht 172 million from year 2005 which recorded at Baht 12,394 million. That was the result as specified in the Power Purchase Agreement (PPA)” However, the Company’s administration expense stated Baht 1, 248 million which was 30% higher comparing to the figure presented in year 2005 ( Baht 961 million ) as a result of the reserved damage cost from fire cause at the Flue Gas Desulfurisation unit at Thermal Power Plant Unit 1 on October 13, 2005 that was recorded at Baht 750 million which was being under claim process with insurance company.
Moreover, the average interest rate for long term loans and debentures of the year 2006 at 4.60% per annum has effected to the Company interest expense of Baht 1,444 million which recorded 19% higher than that year 2005 (Baht 1,209 million) which represented only 3.50% per annum. However, the interest expenses were compensated in the Availability Payment (AP).
Ratchaburi Holding’s information
Ratchaburi Electricity Generating Holding Public Company Limited is a leading independent power producer in the region with a total capacity of 3,995 MW, deriving from its investment in many power plant projects both in Thailand and oversea countries. Ratchaburi Holding has a capacity portion by equity own in each projects as follows: The current commercial operating plants are 3,645-MW Ratchaburi’s power plants and 350-MW Tri Energy’s power plants in Ratchaburi province. The ongoing projects are a 350-MW Ratchaburi Power’s power plant in Ratchaburi province, a 1.75-MW power generation from flared gas project in Sukhothai, and a 153.75-MW Nam Ngum 2’s Hydro power plant and a 110-MW Nam Ngum 3’s Hydro power plant in Lao PDR. In 2013, Ratchaburi Holding will have a total production capacity of 4,610.50 MW.
Learn more about Ratchaburi Holding, visit our web site at www.ratch.co.th
Information for media contact:
Sasithorn Chantraklum
Tel: 0 2978 5221-4 Fax: 0 2937 9541
Public Relation Department of Ratchaburi Electricity Generating Holding PCL.
E-mail: [email protected]