Press Releases
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GLOW ENERGY PUBLIC COMPANY LIMITED

1 Empire Tower, 38th Floor - Park Wing, South Sathorn Rd.,
Yannawa, Sathorn, Bangkok 10120, Thailand.
Tel. (66 2) 670 1500-1 Fax. (66 2) 670 1548-9

11 November 2014

Glow continues to post strong results for the first 9 months of 2014.

- EBITDA and Normalized Net Profit for the first 9 months of 2014 continue to be robust, increasing by 21% and 28% year-on-year respectively.

- Very strong earnings growth in the IPP business, and continued sound performance of the cogen business.
- Glow wins the Edison Electric Institute’s Asian Utility Award 2014.


EBITDA and Normalized Net Profit for the first 9 months of 2014 continue to be robust, increasing by 21% and 28% year-on-year respectively.

For the first 9 months of 2014, Glow Group (“Glow”) posted:
- Consolidated total revenue of THB 56,515 million,
- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 16,265 million,
- Net Profit of THB 7,758 million, and
- Normalized Net Profit (“NNP”) (net profit excluding foreign exchange gains/ losses and deferred tax incomes/expenses and excluding adjustments for Financial Lease accounting) of THB 7,650 million.
The EBITDA and NNP of the first 9 months of 2014 increased by 21% and 28% year-on-year respectively.

For the third quarter of 2014, Glow Group (“Glow”) posted:
- Consolidated total revenue of THB 18,010 million,
- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 5,216 million,
- Net Profit of THB 2,457 million, and
- Normalized Net Profit (“NNP”) (net profit excluding foreign exchange gains/ losses and deferred tax incomes/expenses and excluding adjustments for Financial Lease accounting) of THB 2,441 million.
The EBITDA and NNP for the third quarter of 2014 increased by 14% and 19% year-on-year respectively.

Very strong earnings growth in the IPP business, and continued sound performance of the cogen business.

Mr. Brendan Wauters, CEO of Glow, commented: “Our earnings growth this year has mostly been driven by our IPP business line. Gheco-One, (the 660 MW coal-fired IPP in which we hold 65% stake) in particular reported a NNP of THB 3.5 billion for the first 9 months of 2014, compared to THB 1.2 billion in the same period last year, on the back of the significantly higher availability of the plant. We have also seen a continued sound performance of our cogen business. Electricity and steam sales volume to industrial customers increased by 9% and 4% respectively from last year, and margins for both gas-fired and coal-fired generation remained robust.”

Glow won Edison Electric Institute’s Asian Utility Award 2014

Glow Energy has won Platinum in the small capitalization category at the 2014 Edison Electric Institute (EEI) Asian Utility Awards. The EEI Asian Utility Award recognizes companies which achieve a high level of total shareholder return. The award reflects superior and sustained financial performance as determined by rigorous financial indicators.
Mr. Suthiwong Kongsiri, CFO of Glow, commented: “We would like to thank Edison Electric Institute for this honourable award. We believe it reflects our core business philosophy to focus on disciplined investments and maximizing shareholders’ value, and most importantly, to deliver what we promise and communicate to the market. The success of Glow today clearly could not have been achieved without the confidence, belief, and support given to us by investors, business partners, and all other stakeholders.”










About Glow Energy

Glow Group, with the ENGIE Group as its main shareholder (69.11%), is a major energy player in Thailand with a combined installed capacity of 3,207 MW (Glow’s stake is 2,891 MW) of electricity and 1,206 tons per hour of steam. Glow Group generates and supplies electricity to the Electricity Generating Authority of Thailand (EGAT) under Thailand's SPP (Small Power Producer) and IPP (Independent Power Producer) programs, as well as electricity, steam, industrial water and services to large industrial customers located in the Map Ta Phut area and nearby.

For more information about the Glow Group please visit www.glow.co.th. For more information about ENGIE please visit the company’s website at http://www.engie.com.

About ENGIE

ENGIE is committed to take on the major challenges of the energy revolution, towards a world more decarbonised, decentralised and digitised.

The Group aims at becoming the leader of this new energy world by focusing on three key activities for the future: low carbon generation in particular from natural gas and renewable energies, energy infrastructures and efficient solutions adapted to all its clients’ needs (individuals, businesses, territories, etc.). The customers’ satisfaction, innovation and digital are at the heart of ENGIE’s development.

ENGIE is active in around 70 countries, employs 150,000 people worldwide and achieved revenues of €66.6 billion in 2016. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).


For further details please contact:

Prapon Chinudomsub

Glow Energy Plc.

Tel. 02-670-1500-1

Email: prapon@glow.co.thengie.comengie.com





Last Reviewed/Updated : 11/Nov/2014