GPSC announced that its 2016 net profit was Bt.2.7 billion, rose up by Bt.794 million or 42% from the previous year, due to rising revenue from its effective management and strong growth from its PTT Group clients which resulted in increasing in steam and electricity sales of its Central Utility Plants in Rayong. Also, it was the first full year of commercial operation of IRPC Clean Power Phase 1. Moreover, the company realized an increase in the share of profit from Nava Nakorn Electricity Generating Company Limited (NNEG) which started COD in June 2016. Therefore 2016 dividend of Bt.1.15 per share or 64% of the net profit of consolidated financial statements was approved by the company’s Board of Directors which the interim dividend for 1H of 2016 was paid at the rate of Bt.0.45 per share, consequently the company would pay the remaining dividend for 2H of 2016 performances at Bt.0.70 per share on April 11, 2017 after obtaining approval from the 2017 Annual General Shareholders’ Meeting.
Dr. Toemchai Bunnag, Chief Executive Officer of Global Power Synergy Public Company Limited or GPSC, an electricity and utility flagship of PTT Group, said that from GPSC’s effective management in Cogeneration Power Plant has increased our last year performance higher than planned. However, the company still continuously focused on the cost management of electricity and steam with more highlight on the project following up and seeking more opportunities in the investment.
For Q4 of 2016, the company had total revenue of Bt.4.462 billion, dropped by Bt.714 million or 14% from Q3 of 2016 due to the Independent Power Producer (IPP) in Sriracha had lower sales volume of electricity submitted to Electricity Generating Authority of Thailand (EGAT) according to the dispatch instruction. The reducing revenue was a part of the Energy Payment which was subject to the amount of electricity sold to EGAT. However, the company still received Availability Payment from EGAT as the power plant was available to supply electricity upon EGAT’s demand, additionally, even though the revenue dropped but the production cost dropped proportionately more, bringing about higher gross profit which reflect the company’s ability to efficiently manage the costs in producing to generate higher profit margin for the company.
Net profit in Q4 of 2016 was Bt.419 million, decreased by Bt.305 million or 42%, from Q3 of 2016 due to in the previous quarter, the company received dividend from Ratchaburi Power Co.,Ltd. Nevertheless, the net profit in Q4 of 2016 was 25% higher than the same quarter in 2015.
Nevertheless, on February 9, 2017 the company’s Board of Directors approved the 2016 dividend payment from the company’s operating results of 2016 which would be paid at Bt.1.15 per share, totaling approximately Bt.1,723 million or 64% of the net profit of consolidated financial statements. The interim dividend for 1H of 2016 (January-June 2016) was paid at the rate of Bt.0.45 per share, totaling approximately Bt.674 million, consequently the company would pay the remaining dividend for 2H of 2016 (July-December 2016) performances at Bt.0.70 per share, totaling approximately Bt.1,049 million.
The company aim to deliver continuous growth in 2017 as the company policy that focus on project developments with PTT Group and our partners both domestic and international, and to create strong revenue in the long term with the expertise of our partners in the strategic countries.