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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

26 February 2019

Glow announces Normalized Net Profit of THB 8.1 billion for 2018

For the fiscal year 2018, Glow Group (“Glow”) has posted:

- Consolidated total revenue of THB 53,913 million,
- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 17,391 million,
- Net Profit of THB 8,379 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 8,147 million.

EBITDA for the fiscal year 2018 decreased by 3.7%, and NNP decreased by 6.5% from the fiscal year 2017.
For the fourth quarter of 2018, Glow Group (“Glow”) has posted:

-Consolidated total revenue of THB 13,607 million,
- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 4,067 million
- Net Profit of THB 1,855 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 1,590 million.

Brendan Wauters, CEO of Glow, commented: “Our NNP for 2018, at THB 8.1 billion, would have been broadly in line with our NNP for 2017 (at THB 8.7 billion), if not for a number of one-off (tax-related) charges recorded in late-2018. 2018 has been another year in which we have made significant progress on our Operational Excellence roadmap. Availability and reliability levels have been excellent across our fleet. Demand from our industrial customers has continued to be very strong; the aggregate of 5.2 TWh of electricity and 8,009 ktonnes of steam corresponds to our highest sales volume ever. 2018 was also the last year of our “SmartSave 2018” cost savings program. Our teams, in a company-wide effort, contributed ideas which resulted in total savings in excess of 1 billion THB. That result was well in excess of the initial target we had set when we rolled out this program in early 2016, and this has of course contributed significantly to our solid financial performance in 2018”.




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 : 26/Feb/2019