To be armed for business expansion in renewable energy and foreign investment
Ratchaburi Electricity Generating Holding PCL. announces its 9-month operating performance of 2009. The Company recorded net profit at 5,556.60 million Baht or 3.83 Baht per share, which is an increase of 10.14% from the same period of last year. It is also getting ready for restructuring its business structure to arm the Company’s expansion.
Mr. Thawat Vimolsarawong, Senior Executive Vice President-Business Development, said the Company is prompt for its business expansion by preparing restructuring its investment arms to serve the future business direction. According to the business plan in domestic investment, the Company aims to increase its total capacity in renewable energy project to 100 MWs by 2016. Recently, the Company has increased the registered capital for its subsidiary named Ratchaburi Energy Company Limited to support investment in SPP and VSPP projects corresponding to the country’s power demand and the government’s policy on the promotion of renewable energy. Moreover, the Company is seeking to explore new potential projects in power sectors and other related businesses. Currently, RH International Corporation Limited has been established as an investment arm to support the Company’s business expansion in power generation across South East Asia region and Australia. Therefore, the wholly-own RH International Corporation Limited by Ratchaburi Holding with 5 million Baht in registered capital would facilitate to an efficient investment management for the Company.
For 9-Month operating performance of 2009, the Company gained 28,448.98 million Baht in total revenue, consisting of 26,854.91 million Baht from electricity sales and operating and maintenance revenues, 207.07 million Baht from interest income, 101.29 million Baht from management service fee,168.09 million Baht from other incomes and 1,117.62 million Baht from the Company’s shared profit in its joint ventures. Whereas the Company’s cost of sales and other expenses were 21,347.78 million Baht, consisting of 20,856.27 million Baht in cost of sales, 491.51 million Baht in administration expenses. Meanwhile, the Company’s interest expense was 680.96 million Baht. Nevertheless, the Company committed to pay 863.64 million Baht in income tax which is an increase of 800.14 million Baht compared with the same period of last year.
Mrs. Darunee Abhinoraseth, Senior Executive Vice President-Finance mentioned to the 9-Month Operating Performance of 2009 that the Company recorded net profit at 5,556.60 million Baht, which was 511.59 million Baht or 10.14% higher compared with the same period of the previous year. This resulted from the cost of sales and other expenses of 21,347.78 million Baht which decreased by 6,205.32 million Baht or 22.52% from the previous year.
Furthermore, the interest expense in 2009 was minimized by 30.04% compared with the same period of last year because of the lower interest rate and the principle repayment in every quarter. Also, the Company recorded 26,854.91 million Baht in sales and service revenue which decreased by 5,543.03 million baht or 17.11% compared with the same period of 2008 and 1,117.62 million Baht in shared profit in its joint ventures increased by 337.74 million Baht or 43.31% from the same period of last year which mainly received from the profit sharing from Tri Energy and Ratchaburi Power.
Regarding to the Q3/2009 operating performance, the Company recorded net profit at 1,656.74 million Baht decreased by 418.70 million Baht or 20.17% compared with the same period of 2008. This was mainly resulted from 10,265.44 million Baht in sales revenue decreased by 836.27 million Baht or 7.56% of the same period of last year. Moreover, the company’s income tax was increased at 284.49 million Baht compared with the same period of last year which was due to the expiration of the BOI’s tax exempt since October 2008.
Company’s Information
Established in March 2000, Ratchaburi Electricity Generating Holding PCL is a leading independent power producer in Thailand with 4,347.37 MW in total installed capacity deriving from its investment in many power plant projects both domestics and foreign. 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, Pratu Thao Power Plant in Sukhothai province, which the Company currently invests in the expansion of 0.875 MW-Pratu Thao Power Plant. The investment projects under development 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 Xe-Pian Xe-Namnoy’s Hydro Power Plant and a 751-MW Hongsa’s Power Plant in Lao PDR. For renewable energy development, the Company invests in Wind Power Project in Phetchabun with capacity proportion of 18 MW. The Company aims to achieve the total installed capacity of 5,479 MWs from its investment and developing projects.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment