Thailand: Glow gains from strong factory needs

Thailand: Glow gains from strong factory needs

SET-listed Glow Energy Plc, an independent power producer with co-generation
facilities, posted a net profit of 7.8 billion baht in the first nine months
of this year thanks to robust demand from industrial customers.

For the nine-month period, the company had a total of 41.2 billion baht in
earnings before interest, taxes, depreciation and amortisation (Ebitda),
excluding adjustments for financial lease accounting of 14.9 billion baht.

In the third quarter, the company recorded total revenue of 13.1 billion
baht with Ebitda of 4.57 billion baht.

Net profit for the quarter stood at 2.2 billion baht.

Chief executive Brendan Wauters said the strong performance this year was
due largely to robust demand from industrial customers.

"On the independent power producer side, our units achieved excellent levels
of availability," said Mr Wauters.

He said investment in a waste-to-power plant had strong prospects.

"We are pleased to announce that, together with our partners WHA and Suez,
we have been awarded a power purchase agreement for a 9-megawatt
waste-to-energy plant. This facility will be located in Chon Buri province,
and is expected to come on line in late 2019," he said.

The power produced from the plant will be sold under a 20-year deal with the
Provincial Electricity Authority.

The company recently said it planned part of its 2017-20 capital expenditure
of 3-5 billion baht to re-power four generating units at two power plants in
Rayong. The four units, with total power-generating capacity of 500MW,
received operating licences in 1996 and were due to retire in 2017.

The remaining capex will be used for local and Asean expansion.

GLOW shares closed yesterday on the Stock Exchange of Thailand at 78 baht,
up 75 satang, in trade worth 83.1 million baht.

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Link to Original Article:
http://www.bangkokpost.com/business/news/1138109/glow-gains-from-strong-fact
ory-needs

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com