EGCO REVEALS ITS SUCCESS IN 2006 WITH NET PROFIT OF BAHT 6,063 MILLION
EGCO today announced its remarkable 2006 revenue with a total net profit of baht 6,036 million, representing an increase of baht 1,943 million or 48 % compared to 2005. The company would realize revenue from BLCP in the first quarter of 2007. Aiming to adjust its investment ratio between local and overseas to be 80:20 Mr.
Visit Akaravinak, EGCO’s President reported the 2006 operating results, ended December 31, 2006 that EGCO’s group consolidated net profit was 6,036 million, an increase of baht 1,943 million or 48 % compared to 2005 with the total earning of baht 19,067 million, up by baht 2,214 million or 13% compared to the previous year. The major portion of the revenues is derived from electricity sales earnings through the IPP business group, consisting of Rayong and Khanom power plants, which accounted for baht 10,665 million, an increase of baht 1,287 million or 14%. Additional earnings derived from SPP throughout 12-month period account to baht 5,700 million, which is baht 512 million or 10% increase from the last fiscal year. The year 2006 is another great year for EGCO, as the company signed a Tariff Memorandum of Understanding with Electricity Generating Authority of Thailand (EGAT) for Nam Theun 1 hydroelectric power project. And it also completed the acquisition of 50% of BLCP power facility, a 1,434 MW coal-fired power plant in January 2007. The President said that “An investment of BLCP has enabled EGCO group to increase its owned generation capacity from 2,414 MW to 3,133.6 MW and boost its earnings which would realize revenue of the project from the first quarter of 2007 onwards. Beyond the megawatts and the earnings, BCLP also posts EGCO as the Thailand’s first IPP generating the electricity from a diverse range of fuels including natural Gas, coal, diesel oil, hydropower and biomass, which are in accordance with the government’s policy on fuel diversification to sustain energy stability.” Mr. Visit further disclosed on EGCO’S business direction in 2007 that “EGCO plans to adjust the proportion of local and overseas investment to 80:20 as the company sees that local investment is much less risk than overseas. For more information, please contact:
Corporate Communications Division Sarinya Sanmeema /Jarurat Mancharoensiri JWT Public Relations Tel: 02-204-8218, 02-204-8552 Fax: 02-259-9246