Q1 53 audit E SET เกินร้อยละ20

Tanapornk

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(Translation) RH 207 / 2010 May 13, 2010 stSubject : Report on operating result for the 1 quarter of 2010 ended March 31, 2010 and change in operating result of more than 20% from the year 2009 To: President The Stock Exchange of Thailand Reference : The Stock Exchange of Thailand’s regulation on preparation and submission of financial statements and transactions relating to financial status and operating results of listed company - year 2001. Attachment : Interim Financial Statements of Ratchaburi Electricity Generating Holding Public Company Limited and its subsidiaries for the three-month period ended March 31, 2010, including 1 copy of English version. Regarding to the reference, Ratchaburi Electricity Generating Holding Public Company Limited (“the Company”) is pleased to submit herewith the interim financial statements for the three- month period ended March 31, 2010, of which the operating result has changed more than 20 percent from the corresponding period in the year 2009. The operating performance according to the interim consolidated financial statements of the stCompany and its subsidiaries for the 1 quarter of 2010 ended March 31, 2010 showed the net profit of Baht 1,457.27 million or Baht 1.01 per share, decreasing by Baht 386.01 million or 20.94 percent compared to the stnet profit of Baht 1,843.28 million or Baht 1.27 per share of the 1 quarter of 2009. The main reasons were as follows: 1. Revenue from sale stRevenue ...

Informations

• Publié par: Racin
• Nombre de lectures: 7
• Langue: English

Extrait

(Translation)

RH 207 / 2010

May 13, 2010

Subject :

Report on operating result for the 1

st

quarter of 2010 ended March 31, 2010 and change in

operating result of more than 20% from the year 2009

To:

President

The Stock Exchange of Thailand

Reference :

The Stock Exchange of Thailand’s regulation on preparation and submission of financial

statements and transactions relating to financial status and operating results of listed

company - year 2001.

Attachment :

Interim Financial Statements of Ratchaburi Electricity Generating Holding Public

Company Limited and its subsidiaries for the three-month period ended March 31, 2010,

including 1 copy of English version.

Regarding to the reference, Ratchaburi Electricity Generating Holding Public Company

Limited (“the Company”) is pleased to submit herewith the interim financial statements for the three-

month period ended March 31, 2010, of which the operating result has changed more than 20 percent from

the corresponding period in the year 2009.

The operating performance according to the interim consolidated financial statements of the

Company and its subsidiaries for the 1

st

quarter of 2010 ended March 31, 2010 showed the net profit of Baht

1,457.27 million or Baht 1.01 per share, decreasing by Baht 386.01 million or 20.94 percent compared to the

net profit of Baht 1,843.28 million or Baht 1.27 per share of the 1

st

quarter of 2009. The main reasons were

as follows:

1.

Revenue from sale

Revenue from sale for the 1

st

quarter of 2010 was Baht 9,881.83 million comprised of

the revenue received from the Availability Payment (“AP”), Baht 2,723.72 million and the revenue received

from the Energy Payment (“EP”), Baht 7,158.11 million. The details were as follows:

2

1.1 Revenue received from the AP

Revenue received from the AP for the 1

st

quarter of 2010 was Baht 2,723.72

million, decreasing by Baht 838.37 million or 23.54 percent from Baht 3,562.09 million in the same period

of the previous year. The main reason was the average of Base Availability Credit in the year 2010 is lower

than that of the year 2009 as specified in the Power Purchase Agreement.

1.2 Revenue received from the EP

Revenue received from the EP for the 1

st

quarter of 2010 was Baht 7,158.11

million, increasing by Baht 3,031.81 million or 73.48 percent from Baht 4,126.30 million in the same period

of the previous year. The main reason was the Ratchaburi Power Plants were placed on reserved shutdown

in the 1

st

quarter of 2010 less than the 1

st

quarter of 2009. Therefore, the fuel consumption was higher than

the same period of previous year. Also, the fuel costs, which are the main cost, increased from the same

period of the previous year by 72.86 percent.

2.

Share of profit of jointly-controlled entities

In the 1

st

quarter of 2010, the Company recorded share of profit of jointly-controlled

entities in the amount of Baht 340.16 million, increasing by Baht 214.13 million or 1.70 times from Baht

126.03 million in the 1

st

quarter of 2009. The main reason was the Company recorded 50 percent of the

share of profit in Tri Energy Company Limited (“Tri Energy”) for the 1

st

quarter of 2010 increasing by Baht

207.28 million from the same period of the previous year. This resulted from the fact that Tri Energy

recorded gains on foreign exchange rate in the amount of Baht 25.85 million in the 1

st

quarter of 2010,

whereas, it recorded losses on foreign exchange rate in the amount of Baht 27.76 million in the 1

st

quarter of

2009. However, the operating income of Tri Energy for the 1

st

quarter of 2010 before gains on foreign

exchange rate increased in the amount of Baht 153.67 million from the same period of the previous year.

This was mainly due to the fact that the Power Plant of Tri Energy was shutdown for the equipment

repairing in the 1

st

quarter of 2009.

3.

Finance costs

Finance costs (interest expenses) for the 1

st

quarter of 2010 were Baht 169.48 million,

decreasing by Baht 90.52 million or 34.82 percent from Baht 260.00 million in the 1

st

quarter of 2009. The

main reasons were quarterly repayment and lower interest rate compared to the same period of the previous

year.

3

4.

Income tax expense

Income tax expense for the 1

st

quarter of 2010 was Baht 190.41 million, decreasing by

Baht 83.08 million or 30.38 percent from Baht 273.49 million in the 1

st

quarter of 2009. The main reason

was the revenue received from the AP of the Ratchaburi Thermal Power Plant Unit 1 and 2, which have

started paying for corporate income tax since October, 31 2008, was lower than the same period of the

previous year.

Please be informed accordingly.

Sincerely yours,

(Mr.

Noppol Milinthanggoon)

President

Accounting Division

Tel : [phone]

Fax : [phone]