Bangkok--14 May--Ratchaburi Holding
Ratchaburi Holding Announces Q1/2009 Operating Performance increasing 8.18% in Net Profit Ready to Develop Foreign Project with Tariff MOU Signing for Hongsa Power Plant
RATCH announced its Company and the subsidiaries’ first quarter operating performance of year 2009. The Company recorded net profit of 1,843 million Baht or an increase of 8.18% compared to the same period last year. For the progress investment projects, the Company continues developing Hongsa Power Plant’s project, of which the Tariff MOU has already been signed.
Mr. Noppol Milinthanggoon, President of Ratchaburi Electricity Generating Holding PCL. mentioned the satisfactory of the Company’s operating performance in the first quarter of 2009 that RATCH remains the efficiency of availability in its power plants. Furthermore, RATCH recently signed the Tariff MOU on Hongsa Power Plant’s project in Lao PDR with the Electricity Generating Authority of Thailand (EGAT) on May 13, 2009.
Hongsa Power Plant project, with a total installed capacity of 1,878 MW, is set to generate electricity for Thailand by using coal mine as a primary fuel. RATCH currently holds 40% equity stake in this project, so the Company’s generation capacity would increase more 751 MW. This project is expected to start its commercial operation date in 2015.
In regards to the Company’s Wind Power project located in Phetchabun province, it is under process of selection of wind turbines’ manufacturer, project’s financing consideration and submission of documentation of area permission to the Royal Forest Department (RFD). The project is expected to start construction in October, 2009. The Nam Ngum 2 Hydro Power Plant project in Lao PDR is progressed 78% completion of construction as at March 31, 2009, hence it is expected to run the Initial Operation Date-IOD in late of 2010 and to start the Commercial Operation Date in 2013 as scheduled.
For the first quarter operating performance ended on March 31, 2009, the Company and its subsidiaries recorded net profit of 1,843.28 million Baht increasing 139.43 million Baht or 8.18% from the same period of the previous year and is represented 1.27 Baht per share. In Q1/2009, the Company and its subsidiaries gained 7,948.48 million Baht in total revenue, consisting of 7,688.39 million Baht from sales revenue, 31.58 million Baht from management service fee, 126.03 million Baht from the shared profit in its affiliates, 88.50 million Baht from the interest income, and 13.98 million Baht from other income. The Company’s cost of sales and other expenses in Q1/2009 were 5,571.71 million Baht, consisting of 5,403.38 million Baht in cost of sales, 143.25 million Baht in administration expense, 25.08 million Baht in other expenses. The Company also had 260 million Baht of interest expense and 273.49 million Baht of income tax in Q1/2009.
In operation of corporate social responsibility, the Company together joined with the Royal Forest Department (RFD) announced the Community Forest Model Contest 2009 under the Love the Forest and the Community project on April 30, 2009. The contest has been opening for application from May 1 until May 31, 2009. The winner of National Community Forest Model will be awarded the HRH Princess Maha Chakri Sirindhorn trophy together with 200,000 Baht forest community support fund. The National Community Forest Model is recognized as the best in utilization and management of community well-being. This year, there is additional prize titled the Best Community Forest Award-Food Bank for the forest as a wholesome food source added to the prize list to boost sustainable harvesting of food and herbs from community forests. Other prizes include Best Regional Awards, Provincial Awards and Consolation Prizes with total prize value of 3.6 million baht.
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]