Bangkok--11 Nov--Ratchaburi Electricity Generating Holding
Ratchaburi Electricity Generating Holding PCL. (RATCH) announces its 9-month reviewed operating performance of the Company and its subsidiaries. As a period of 1 January — 30 September, 2008, the Company recorded net profit at 5,045 million Baht or 3.48 Baht per share increased by 295.10 million Baht or 6.21% of the same period of the previous year, which recorded net profit at 4,749.90 million Baht.
Mr. Noppol Milinthanggoon, the Managing Director of Ratchaburi Electricity Generating Holding PCL. mentioned that the Company recorded net profit at 5,045 million Baht, an increase of 6.21% from the same period of last year. Currently, the Company gained 33,634.98 million Baht in total revenue, consisting of 32,397.94 million Baht from sales revenue, 315.34 million Baht from interest income, 779.88 million Baht from the Company’s shared profit in its joint ventures, and 141.82 million Baht from other incomes. Whereas, the Company’s cost of sales and other expenses were 27,553.10 million Baht, consisting of 27,093.29 million Baht in cost of sales, 459.81 million Baht in the directors’ remuneration and administration expense. Meanwhile, the Company’s interest expense and income tax were 1,036.88 million Baht.
“The Company is ready for investment in domestic and foreign projects, which have high potential to develop, by focusing on the main purpose in generating electricity to the Electricity Generating Authority of Thailand (EGAT). As at September 30, 2008, the Company has cash on hand approximately of 8,412 million Baht and retained earnings of 23,495 million Baht, which shows the strength and readiness of the Company in the project development. However, the Company initially considers developing the projects based on the Power Demand Plan (PDP) from EGAT as well as follows the economic situation closely in order for effective and efficient investment” Mr. Noppol added.
As at September 30, 2008, the Company and its subsidiaries’ total assets were 68,828.63 million Baht. The Company had total liabilities of 29,301.99 million Baht and shareholders' equity valued at 39,526.64 million Baht. The company’s financial status is demonstrated by the ratio of total liabilities per total shareholders’ equity at 0.74 time and the Debt Service Coverage Ratio (DSCR) at 2.22 times.
Nevertheless, the Company’s joint ventures were regionally recognized by the well-known organization; the Ratchaburi Power’s Power Plant was awarded the Golden Award of Most Innovation Power Technology of the Year from Asian Power Magazine by the award ceremony taken on October 22, 2008 at Kuala Lumpur, Malaysia. While, the Tri Energy Power Plant was given Silver Medal Winner in the Operation and Maintenance Category of the 2008 from Asian Power Award Competition. This reflects to the high standard of operation and environmental management as well as the effective reduction of polluting from the energy industry.
Moreover, Ratchaburi Electricity Generating Holding PCL. was the Top Ten in the listed companies, which revealed the information in conducting Corporate Social Responsibility (CSR). From the survey by CSR Asia and Asian Institute of Technology (AIT) announcing on October 27, 2008, the Company was in 7th rank among Thai listed companies in the stock market. The indicators of this survey include Company’s Codes and Policies, CSR Strategy and Communications, Marketplace and Supply Chains, Workplace and People, Environment and Community Investment and Development.
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]