- Normalized Net Profit increases 20% year-on-year, reaching a record high at THB 9.7 billion.
For the fiscal year 2014, Glow Group (“Glow”) posted:
- Consolidated total revenue of THB 73,266 million,
- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 20,898 million,
- Net Profit of THB 9,139 million, and
- Normalized Net Profit (“NNP”) (net profit excluding unrealized foreign exchange gains/ losses, deferred tax income/expenses and adjustments for Financial Lease accounting) of THB 9,668 million.
EBITDA and NNP for the fiscal year 2014 increased by 14.5% and 20.0% year-on-year respectively.
For the fourth quarter of 2014, Glow Group (“Glow”) posted:
- Consolidated total revenue of THB 17,496 million,
- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 4,633 million,
- Net Profit of THB 1,711 million, and
- Normalized Net Profit (“NNP”) (net profit excluding unrealized foreign exchange gains/ losses, deferred tax income/expenses and adjustments for Financial Lease accounting) of THB 2,018 million.
EBITDA and NNP for fourth quarter of 2014 decreased by 4% and 3% year-on-year respectively (last year’s fourth quarter results included one-off insurance proceeds for GHECO-One in an amount of THB 297 million).
Excellent performance of both the Cogen and the IPP business line
Brendan Wauters, CEO of Glow, commented: “Our record full year results confirm the trends we have observed throughout the year. In our Cogen business line, we have seen year-on-year volume growth of 8% and 4% for power and steam respectively, and a generally robust margin environment. In our IPP business line, the outstanding availability of our coal-fired Gheco-One plant, and the higher dispatch of our HHPC hydro plant in Laos have been key drivers of earnings growth. Glow remains committed to operational excellence and to value creation through disciplined investments, and we believe our 2014 results reflect the success of that strategy.”
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.
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:
Glow Energy Plc.
Tel. 02-670-1500-1Email: email@example.com