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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

10 November 2017

Glow announces Normalized Net Profit of THB 6.9 billion for the first nine months of 2017

For the first nine months of 2017, Glow Group (“Glow”) has posted:

- Consolidated total revenue of THB 39,644 million,

- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 13,946 million,

- Net Profit of THB 7,138 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 6,894 million.

EBITDA for the first nine months of 2017 decreased by 7%, and NNP decreased by 12%, from the same period of 2016.

For the third quarter of 2017, Glow Group (“Glow”) has posted:

- Consolidated total revenue of THB 13,494 million,

- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 4,691 million,

- Net Profit of THB 2,411 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 2,353 million.

Solid results in a maintenance-intensive year

Brendan Wauters, CEO of Glow, commented: “We are very satisfied with our year-to-date performance. The demand for power from our industrial customers has grown by 5% year-on-year. After the upwards adjustments in May and September, the Ft is now 21 Stg higher than it was at the end of 2016. When comparing this year’s our financial performance with last year’s, one needs to take into account that 2017 year-to-date, particularly Q1, has been maintenance-intensive. Post-outage availability levels have been excellent across our fleet.”

Credit rating upgraded to AA-

Pajongwit Pongsivapai, CFO of Glow, commented: “We are delighted that TRIS has upgraded our credit rating from A+ Stable to AA- Stable. This upgrade reflects our even stronger financial profile, as a result of a declining debt level combined with our proven track record in power generation, our reliable cash flows from long-term power purchase agreements with EGAT, and long-term power and steam supply contracts with our industrial customers.”




About Glow Energy

Glow Group, with the ENGIE Group as its main shareholder (69.11%), is a major energy player in Thailand with a combined installed capacity of 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 located in the Map Ta Phut area and nearby.

For more information about the Glow Group please visit www.desiredirectory.com. For more information about ENGIE please visit the company’s website at http://www.engie.com.

About ENGIE

ENGIE is committed to take on the major challenges of the energy revolution, towards a world more decarbonised, decentralised and digitised.

The Group aims at becoming the leader of this new energy world by focusing on three key activities for the future: low carbon generation in particular from natural gas and renewable energies, energy infrastructures and efficient solutions adapted to all its clients’ needs (individuals, businesses, territories, etc.). The customers’ satisfaction, innovation and digital are at the heart of ENGIE’s development.

ENGIE is active in around 70 countries, employs 150,000 people worldwide and achieved revenues of €66.6 billion in 2016. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).


For further details please contact:

Prapon Chinudomsub

Glow Energy Plc.

Tel. 02-670-1500-1

Email: prapon@glow.co.thengie.comengie.com





Last Reviewed/Updated : 10/Nov/2017


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