For the first half of 2015, Glow Group (“Glow”) posted:
- Consolidated Total Revenue of THB 33,130 million,
- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 10,488 million,
- Net Profit of THB 4,479 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 5,073 million.
EBITDA and NNP for the first half of 2015 decreased by 5.1% and 2.6% respectively from the first half of 2014 (which showed the highest ever 6-month results of Glow Group).
For the second quarter of 2015, Glow Group (“Glow”) posted:
- Consolidated Total Revenue of THB 16,999 million,
- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 5,535 million,
- Net Profit of THB 2,296 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 2,787 million.
Strong results for the first half of 2015
Brendan Wauters, CEO of Glow, commented: “In our IPP Business Line, the results of Gheco-One continue to reflect both the contribution of the material settlement concluded in March 2015 (with respect to compensation for the delay in the plant’s completion), and the major maintenance carried out at the start of the year. The results of our IPP Business Line will also continue to structurally reflect the gradual step-down in the tariff of GIPP. In our Cogen Business Line we have seen continued robust demand from our industrial customers in the petrochemical segment, many of whom benefit from the lower oil price environment. These lower oil prices are now also reflected in the Tariff, with a further reduction in Ft effective since May. Gas prices have also started to come down, and are expected to decrease further. Glow continues to benefit from the low coal price environment.”
Interim dividend declared at THB 1.388 per share
Suthiwong Kongsiri, CFO of Glow, commented: “The Board of Directors had approved payment of a 2015 Interim Dividend at THB 1.388 per share, which is an increase of 26% from the 2014 Interim Dividend. Glow’s annual dividend has grown significantly in recent years, with YoY growth of 31% and 20% in 2013 and 2014 respectively, and we therefore continue to re-base our interim dividend to reflect this trend. Our cash flow generation remains very strong. Our gearing has now come down to a level of about 1, which means that we have successfully reverted to what we consider an equilibrium level, after having funded the large-scale expansion program which we completed in 2012”.
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