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

13 May 2015

Glow reports 10% year-on-year increase in Normalized Net Profit for the first quarter of 2015.

Normalized Net Profit increases by 10.0% year-on-year for the first quarter 2015, while EBITDA increases by 4.6%.

For the first quarter 2015, Glow Group (“Glow”) posted:

- Consolidated total revenue of THB 16,131 million,

- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 4,953 million,

- Net Profit of THB 2,183 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 2,286 million.

EBITDA and NNP for the first quarter of 2015 increased by 4.6% and 10.0% year-on-year respectively.

Robust operational performance, GHECO-One maintenance completed, material Other Income

Brendan Wauters, CEO of Glow, commented: “It is noteworthy that in the first quarter of 2015 we recorded a number of material “Other Income” items: compensation for the delay in GHECO-One’s construction completion, and revenue from insurance claims related to the disruption of one of our coal-fired cogeneration units in 2014. Even without these items, however, our performance was still solid, especially taking into account that we carried out the scheduled maintenance for our Gheco-One plant in the period from January to early February. This maintenance activity was completed on schedule, and since the unit has been returned to service its reliability and efficiency have been excellent. The results of our Cogen business line were boosted by higher generation from our lower cost units, in a fairly flat volume and spread environment.”




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 : 13/May/2015