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.”