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

23 February 2015

Glow posts record high full year 2014 results.

- 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 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 : 23/Feb/2015