GPSC net profit continued to rise in 2018 with approved dividend payment of Bt.0.80 per share, ready to commission 3 new power plants both domestic and international markets this year
GPSC revealed 2018 performance with continuous rise in revenue with net profit of Bt. 3,359 million, rose by 6% from previous year. The increase is due to full-phase operation of IRPC-CP Phase 2 and ISP1 solar project in Japan, staying intact despite of rising fuel cost. The company aims to earn higher income from 3 coming projects of Nam Lik, Xayaburi hydropower plants in Laos and Central Utilities Plant 4 in Rayong with schedule to pay the rest dividend (Jul-Dec 2018) of Bt.0.80 per share.
Mr. Chawalit Tippawanich, President and Chief Executive Officer of Global Power Synergy Public Company Limited or GPSC, the innovative power flagship of PTT Group, said the company’s revenue was Bt. 24,777 Million in 2018, rose by Bt. 4,860 million or 24% from last year. The net profit was Bt. 3,359 Million, increased by Bt. 184 million or 6% from previous year. The rise in revenue was attributable to full operation of the 240 MW and 180 -300 tons per hour of steam from IRPC Clean Power (IRPC-CP) and 20.8 MW of Ichinoseki Solar Power 1GK (ISP1) in Japan. The company also booked additional revenue from the Combined Heat and Power Producing Co.,Ltd. (CHPP) solar rooftop business in petrol stations, buildings and warehouses of PTT Group.
The company also increased in profit in the amount of Bt. 78 Million, or 15% in 2018, compared to 2017 because of increase in share of profits of associates and joint ventures in 2018.
On February 11, 2019 the company’s Board of Directors agreed to pay 2018 dividend from earnings of the company and its subsidiaries at Bt.1.25 per share, totaling approximately Bt. 1,872.876 Million and accounting for 56% of the company’s net profit. The dividend comprised of the 2018 interim dividend (Jan-June 2018) of Bt. 0.45 per share. As a result, the company will pay the rest dividend of Bt. 0.80 per share (Jul-Dec 2018). The Record Date to entitle rightful shareholders who may receive the dividend will be on February 25, 2019. Then, the company will pay the dividend of Bt. 0.80 per share on April 18, 2019 after the dividend payment is approved during the shareholders’ meeting of 2019.
Mr. Chawalit also stated that for the outlook of 2019, GPSC is confident in its growth strategy, which will continue as planned with 2 major projects in Laos, with the 65 MW of Nam Lik hydropower plant (NL1PC), the 1,285 MW of Xayaburi Power Plant (XPCL) and the 45 MW of electricity and 70 tons per hour of steam of Central Utility Plant 4 in Rayong (CUP4), to be commissioning this year.
Moreover, GPSC is conducting feasibility studies with PTT Group to develop the power plants in Myanmar, by collaborating with PTT and PTTEP, in accordance to strategic plan to grow with PTT Group in the future.