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Press Releases
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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

14 November 2018

Glow announces Normalized Net Profit of THB 6.6 billion for the first nine months of 2018.

For the first nine months of 2018, Glow Group (“Glow”) has posted:

- Consolidated total revenue of THB 40,307 million,

- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 13,324 million,

- Net Profit of THB 6,524 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 6,557 million.

EBITDA for the first nine months of 2018 decreased by 4.5%, and NNP decreased by 5% from the same period of 2017.

For the third quarter of 2018, Glow Group (“Glow”) has posted:

- Consolidated total revenue of THB 14,140 million,

- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 4,277 million,

- Net Profit of THB 2,114 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 2,006 million.

Brendan Wauters, CEO of Glow, commented: “We are satisfied with our performance for the first nine months of this year. Our Cogen business has performed well, notwithstanding the fact that coal and gas prices have been on an increasing trend. Demand from our industrial customers, both in the petrochemical and in the automotive sectors, remains strong. On the IPP side of our business, the availability of GHECO-One has been excellent. Our SmartSave cost control program, and a progressive reduction in interest costs, also continue to contribute to our financial performance. It has now been one year since Notice-to-Proceed was issued for our waste-to-energy plant in Chonburi, and construction is progressing well. We have recently also completed construction of our first two “rooftop solar” projects. Finally, it is worth mentioning that we have seen unusually high (the second highest on record) rainfall at our HHPC hydro plant in Laos during this year’s rainy season, which will enable us to supply more (carbon-free) electricity from this plant in the course of 2019.




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 : 14/Nov/2018


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