Thailand: Egco swings back from loss to B2.84bn profit

Thailand: Egco swings back from loss to B2.84bn profit

SET-listed Electricity Generating Plc (Egco) posted a third-quarter profit
on increasing operating revenue from Khanom Power Plant 4 and large-scale
plants overseas.

President and chief executive Chanin Chaonirattisai said the company had a
third-quarter net profit of 2.84 billion baht, reversing a year-earlier net
loss of 151 million baht.

For the nine-month period from January, the company posted a net profit of
7.5 billion baht, up 92.8% year-on-year.

"The company has recorded satisfactory operating results, mainly due to
increased operating profits from Khanom Power Plant 4 and overseas
large-scale power plants," Mr Chanin said. "Such continuous growth proved
our capability to ensure maximum efficiency of existing power plants and the
close monitoring of our assets."

He said Egco is focused on managing projects under construction, aiming to
complete them on time and on budget.

The projects include the 80-megawatt Chaiyaphum wind farm power project,
which is due to start commercial operation in December.

Egco Group is constructing seven domestic and overseas power projects that
are scheduled to start commercial operations from late 2016 through 2019.

The company is pursuing investment opportunities in six overseas projects
including two projects in Laos, one of which is a 912MW Pak Beng hydropower
project. The project has been submitted to the Mekong River Commission for
review by the Laotian government.

Other projects are 650MW Nam Thuen 1 hydropower project, two projects in
Indonesia, an expansion of 120MW Star Energy geothermal power plant and
Chevron's geothermal power plants, which the company eyes for bidding.

Mr Chanin said Egco is also pursuing the 1,220MW Quang Tri coal-fired power
project in Vietnam and a power project in Dawei Industrial Estate in
Myanmar.

Egco has acquired an additional 8.05% share in Masinloc power plant in the
Philippines, raising Egco's stake in the power plant to 49%, while 51% is
owned by AES Corporation.

EGCO shares closed yesterday on the SET at 194.50 baht, up two baht, in
trade worth 39.4 million baht.

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Link to Original Article:
http://www.bangkokpost.com/business/news/1143005/egco-swings-back-from-loss-
to-b2-84bn-profit

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com