Bangkok--20 Feb--Ratchaburi Electricity Generating Holding
Ratchaburi Electricity Generating Holding PCL. (RATCH), the leading independent power producer of the country, announced the Company and its subsidiaries’ audited operating performance for the year ended December 31, 2006 and the future investment for the stability of energy supply of the country. The Company marked the net profit of Baht 6,106 million or 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. The Company confirmed the readiness to be one of the candidates in IPP’s bidding in year 2007.
Mr. Narong Sitasuwan, Managing Director of Ratchaburi Electricity Generating Holding PCL. (the Company) revealed that “ We are pleased to announce the resolution from the Board of Directors on February 19, 2007 to allocate the dividend payment from the Company’s operation in 2006 at Baht 3,045 million or 2.10 Baht per share to shareholders. Prior in September 18, 2006, the interim dividend payment was paid out at Baht 1.00 per share, and the ordinary dividend payment is scheduled to pay on May 16, 2007 at Baht 1.10 per share. The closing date of the shareholder’s register book for the right to receive the dividend is scheduled on May 4, 2007 at 12.00 p.m., and the dividend payment is scheduled on May 16, 2007. Also, the Company will propose this agenda for approval from the Shareholder’s Annual General Meeting 2006 held on April 20, 2007.”
The Company’s performance in year 2006 was remarkable as the result from many factors. In term of the company’s revenue was increased 16% higher than total revenue in year 2005 as a result of following major causes. The company received management service fee as a result of the project development fee as specified in the Service Agreement dated 27 February 2004 from Ratchabui Power Company Limited at Baht 101 million. Besides, the Company has also recorded main profit shared from joint venture in year 2006 generated from Tri Energy Co., Ltd. at Baht 834 million which increased Baht 366 million from prior year. 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.
In term of cost and expense in year 2006, the company’s operating performance marked 18% higher according to the other expense booked at Baht 750 million for the reserved damage cost from fire cause at the Flue Gas Desulfurisation unit at Thermal Power Plant Unit 1 on October 13, 2005 which was being under claim process with insurance company.
The consequence of interest rate rising during year 2006, it has effected to the Company interest expense of Baht 1,444 million, which recorded 19% higher than that year 2005. However, the interest expenses were compensated in the Availability Payment (AP).
“For the future investment, upcoming IPP Project, that will take place in the second quarter this year according to the PDP 2007, is one of our challenge investments and we have strongly believe in our capability and potentiality in this sector. Since the company has more advantage in term of retain earning at Baht 18,664 million and cash and cash equivalents at Baht 11,229 million. In addition to the financial efficiency, the readiness of location and infrastructure to build the power plant at capacity of 700 MW in Ratchaburi Province is the cost competitive for the company comparing to other players. However, the company also studies the possibility to invest locally and internationally for our future business expansion. We still affirm our policy to be the leader of independent power producer by acquiring the highest production capacity of the country with public trustworthy.” Mr. Narong Sitasuwan said
Ratchaburi Holding’s Information
Ratchaburi Electricity Generating Holding Public Company Limited is a leading independent power producer in the region, which occupied 15% of total country generating capacity, 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
For more information please contact:
Sasithorn Chantraklum / Saowanee Rattanakit / Mookpim Chulpongstorn
Tel: 0 2978 5221-4 Fax: 0 2937 9541
Public Relation Department of Ratchaburi Electricity Generating Holding PCL.