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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

08 August 2018

Glow announces Normalized Net Profit of 4.6 billion THB for the first half of 2018

For the first half 2018, Glow Group (“Glow”) has posted:

- Consolidated total revenue of THB 26,244 million,
- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 9,047 million,
- Net Profit of THB 4,410 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 4,554 million

EBITDA for the first half 2018 decreased by 2%, and NNP increased by 0.3% from the same period of 2017.

For the second quarter of 2018, Glow Group (“Glow”) has posted:

- Consolidated total revenue of THB 13,605 million,
- Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), excluding adjustments for Financial Lease accounting, of THB 4,510 million,
- Net Profit of THB 1,796 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 2,157 million.


Solid Half-Year Results

Brendan Wauters, CEO of Glow, commented: “We are very satisfied with our performance in the first half 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, especially in Q2. Our SmartSave cost control program, and a progressive reduction in interest costs, also continue to contribute to our financial performance.”




About Glow Energy

Glow Energy is a member of the Glow Group who is a major energy player in Thailand. Glow Group combined installed capacity is 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 principally located in the Map Ta Phut area and nearby.

ENGIE (previously known as GDF SUEZ), a global energy player, is Glow Energy’s major shareholder.
For more information about the Glow Group, visit www.desiredirectory.com. For more information about ENGIE, visit www.engie.com.


For further details, please contact:
Prapon Chinudomsub
Glow Energy Plc.
Tel. 02-670-1500-1
Email: prapon.c@engie.com





Last Reviewed/Updated : 8/Aug/2018


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