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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

11 August 2016

Glow posts record half-year results

For the first half of 2016, Glow Group (“Glow”) has posted:

- Consolidated total revenue of THB 28,128 million,

- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 10,367 million,

- Net Profit of THB 5,526 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 5,516 million.

EBITDA for the first half 2016 decreased by 1%, while NNP increased by 9% from the same period of 2015.

For the second quarter of 2016, Glow Group (“Glow”) has posted:

- Consolidated total revenue of THB 13,942 million,

- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 5,435 million,

- Net Profit of THB 2,761 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 2,880 million.


Strong contributions from all business lines

Brendan Wauters, CEO of Glow, commented: “Notwithstanding the substantial reduction in Ft which became effective in May 2016, our performance in the second quarter of 2016 has been excellent reflecting, among others, robust availabilities of our main units, sustained strong demand from our industrial customers, and a further decrease in gas prices. In May 2016 we successfully issued a 10-year three billion Thai Baht debenture at a coupon rate of 2.8%. Our interest expenses in the first semester of 2016 have reduced by 17% compared to the same period last year. If one eliminates the non-recurring “other income” items from our 2015 results, then our Normalized Net Profit for the first semester of 2016 is actually 24% higher than last year.”

2016 interim dividend set at 1.458 THB/share

The board of directors of Glow Group approved the Interim Dividend payment of 1.458 THB/share, an increase of 5% from Interim Dividend paid in 2015. The XD date is set at 23 August 2016, and the payment date is on 9 September 2016.
Pajongwit Pongsivapai, CFO of Glow, commented: “The board of directors has approved an increase of our Interim Dividend payment by 5% from last year. As a reminder: for the fiscal year 2015, Glow paid a Total Dividend of 5.75 THB/share, consisting of a Normal Dividend of 3.47 THB/share and a Special Dividend of 2.28 THB/share. The Interim Dividend declared in 2015 was 1.388 THB/share which was equivalent to 40% of the normal dividend for 2015. The continued increase in Interim Dividend reflects our strong cash flow generation and solid capital structure.”



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), one of the world’s largest international energy and services groups, is Glow Energy’s major shareholder.

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.


For further details please contact:
Natthapatt Tanboon-ek
Glow Energy Plc.
Tel. 02-670-1500-1
Email: natthapatt@glow.co.th





Last Reviewed/Updated : 11/Aug/2016