Press Releases
บริษัท โกลว์ พลังงาน จำกัด (มหาชน)
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 Energy is a member of the Glow Group who is a major energy player in Thailand. Glow Group combined installed capacity is 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 principally located in the Map Ta Phut area and nearby.

ENGIE (previously known as GDF SUEZ), a global energy player, is Glow Energy’s major shareholder.
For more information about the Glow Group, visit www.glow.co.th. For more information about ENGIE, visit www.engie.com.


For further details, please contact:
Prapon Chinudomsub
Glow Energy Plc.
Tel. 02-670-1500-1
Email: prapon.c@engie.com





Last Reviewed/Updated : 11/Nov/2014