Press Releases
บริษัท โกลว์ พลังงาน จำกัด (มหาชน)

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

24 February 2016

Glow posts new record high Normalized Net Profit, and proposes a special dividend for shareholders’ approval

· Normalized Net Profit for the fiscal year 2015 increases by 1.3% year-on-year.
· Expansion of geographic coverage to also include Vietnam and Malaysia.
· Full year dividend of 5.75 THB/share to be proposed for shareholders’ approval.

For the fiscal year 2015, Glow Group (“Glow”) has posted:
· Consolidated total revenue of THB 65,369 million,
· Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 20,379 million,
· Net Profit of THB 8,355 million, and
· Normalized Net Profit (“NNP”) (net profit excluding net foreign exchange gains/ losses, deferred tax income/expenses and adjustments for Financial Lease accounting) of THB 9,797 million.

EBITDA for the fiscal year 2015 decreased by 2.5%, while NNP increased by 1.3% from the same period of 2014.

Normalized Net Profit for the fiscal year 2015 increases by 1.3% year-on-year

Brendan Wauters, CEO of Glow, commented: “Our full year results confirm the trends we have seen throughout the year, including sustained strong demand from our industrial customer base, a price environment which progressively reflects significantly lower oil and coal prices, and the favourable impact of the strengthening of the USD against the THB. As previously commented a number of one-off items, including a material settlement concluded in March 2015 with the EPC contractor of GHECO-One, have also contributed to our 2015 results.”

Expansion of geographic coverage to also include Vietnam and Malaysia
Glow has existing operations in Thailand and Laos, and has to date focused its development effort on Thailand, Laos, Myanmar and Cambodia. The board of directors of Glow has now decided to further expand Glow’s geographic perimeter for business development to also include Vietnam and Malaysia, in addition to the aforementioned markets.

Full year dividend of 5.75 THB/share to be proposed for shareholders’ approval
The board of directors of Glow Energy approved the full year dividend payment for 2015, to be proposed for approval by the shareholders at the annual general meeting.

The proposed total dividend payment for fiscal year 2015 is 5.75 THB per share, consisting of an ordinary Dividend of 3.47 THB per share and a special dividend of 2.28 THB per share.

An interim dividend in an amount of 1.39 THB per share has already been paid in September 2015. Therefore, the final dividend payment, expected to be paid in May 2016, will be 4.36 THB per share.

The total dividend corresponds to a pay-out of 85% of the NNP for the year.
Pajongwit Pongsivapai, CFO of Glow, commented: “We have consistently expressed our commitment to the active management of our capital structure. Our proposal to pay out a special dividend for 2015 is reflective of this commitment, and of our very strong cash flow generation.”

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 For more information about ENGIE please visit the company’s website at


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:

Prapon Chinudomsub

Glow Energy Plc.

Tel. 02-670-1500-1


Last Reviewed/Updated : 24/Feb/2016