Bangkok--30 Oct--Ratchaburi Electricity Generating Holding
Ratchaburi Electricity Generating Holding PCL. (RATCH) announced the Company and its subsidiaries’ unreviewed third quarter operating performance of 2008. As the third quarter ended on September 30, 2008, the Company recorded net profit at 2,075.44 million Baht or 1.43 Baht per share. It is shown 1,514.75 million Baht or 270% increasing from the same period in the previous year, which recorded net profit at 560.69 million Baht.
Mr. Noppol Milintanggoon, the Managing Director of Ratchaburi Electricity Generating Holding PCL., mentioned to the unreviewed operating performance in the third quarter of 2008 that it showed 270% or 1,514.75 million Baht increasing from same period of 2007 due to no planned shutdown for the parts and equipment maintenance at Ratchaburi’s Power Plant in this quarter. So the Company received the availability payment for the third quarter of 2008 from Ratchaburi’s Power Plant at 3,371.54 million Baht, which is 34.82% or 870.80 million Baht increasing from the same period of the previous year. Moreover, the operation and maintenance expenses and the spare part expense of this third quarter were decreased by 231.70 million Baht or 57.86% and 322.72 million Baht or 91.97% respectively, which resulted from the major overhaul of Block 2 of the Combined-Cycle power plant and Unit 1 of the Thermal power plant at Ratchaburi’s Power Plant in the same period of last year.
In addition, the Company recorded the shared profit from its affiliated and joint ventures of 265.12 million Baht, which is an increase of 46.56% or 84.22 million Baht, from the third quarter of 2007. This is due to the Company gained the shared profit of 25% stake at 186.80 million Baht from the commercial operation of the two Combined-Cycle power plants at Ratchaburi Power’s Power Plant.
For the third quarter of 2008, the Company gained 11,525.44 million Baht in total revenue, consisting of 11,101.71 million Baht from sales revenue, 265.12 million Baht from the Company’s shared profit in its joint ventures and 158.61 million Baht from management service fee and other incomes. Whereas the Company’s cost of sales and other expenses were 9,450 million Baht, consisting of 8,928.09 million Baht in cost of sales, 174.94 million Baht in the directors’ remuneration and administration expense. Meanwhile, the Company’s interest expense and income tax was 346.97 million Baht.
For the Company’s total asset as of September 30, 2008, it was 68,828.63 million Baht. In terms of the Company’s total liabilities, there was 29,301.99 million Baht. And the Company has 39,526.64 million Baht in total shareholders’ equity. The ratio of total liabilities per total shareholders’ equity was 0.74 and the Debt Service Coverage Ratio (DSCR) was 1.59
Company’s Information
Ratchaburi Elecrtricity Generating Holding PCL is a leading independent power producer in Thailand with 4,347 MW in total capacity deriving from its investment in many power plant projects both domestic and international. The Company’s capacity portion by equity own in domestic projects are as follows: The current commercial operating plants are located in Ratchaburi province consisted of a 3,645-MW Ratchaburi’s Power Plant, a 350-MW Tri Energy’s Power Plant, a 350-MW Ratchaburi Power’s Power Plant. And there is a 1.75-MW power generating from Associated Gas Project in Sukhothai province. The investment in international projects are consisted of a 153.75-MW Nam Ngum 2’s Hydro Power Plant, a 110-MW Nam Ngum 3’s Hydro Power Plant, a 93-MW Xae Pien-Xae Nam Noi’s Hydro Power Plant and a 661-MW Hongsa’s Power Plant in Lao PDR.
For more information, please contact
Public Relations Department, Ratchaburi Electricity Generating Holding PCL.
Wiwan Phayakvichien and Duangkeaw Dheinsawadkij
Tel: 0 2978 5221, 0 2978 5224 E-mail [email protected]