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          The Electricity Generating Public Company Limited (EGCO) announced the first-quarter financial results of 2016. The net profit excluding profit or loss from exchange rate and income tax accounted for 2,003 million baht, which increased by 701 million baht from the same period of the previous year. Its investment strategy still focused on Asia-Pacific region and opportunity investment with strategic partners.

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          On May 25, 2016, Mr. Chanin Chaonirattisai, President of EGCO reported the financial results of the first quarter of 2016 in the Analyst Meeting. He said that the net profit excluding profit or loss from exchange rate and income tax accounted for 2,003 million baht, which increased by 701 million baht or 54% from the same period of the previous year, because of the higher revenue resulting from an increase of power sale and lower operation cost of many power plants. If profit or loss from exchange rate and income tax was considered, the net profit of the first quarter of 2016 would be 2,590 million baht compared to the same quarter of the last year at 1,533 million baht.

          Contractual capacity of EGCO is 3,809 MW consisting of domestic power plants of 2,561 MW or accounting for 67.22% and overseas power plants of 1,248 MW or accounting for 32.78% which are in Philippines 18.7%, Laos 9.83%, Australia 2.97%, and Indonesia 1.19%. Moreover, there are more projects which are under construction accounting for 1,765 MW.

          In 2016, the power plants that will be added to EGCO system are Khanom Power Plant, Chaiyaphum Wind Power Plant, and Battery Storage Project in the site of Masinloc Power Plant, Philippines, which is the first battery storage project of the country with the capacity of 10 MW and the scheduled commercial operation date in June 2016. If the project is successful, it will be further implemented in other areas.

          EGCO has the long-term plan to expand investment in Asia Pacific region including Laos, Philippines, and Indonesia where EGCO has the existing business base and seek investment opportunity with strategic partners in the future. Besides, EGCO will penetrate India and Bangladesh markets with the consideration on appropriate return and risk in compliance with the company’s policy.