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 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