Ratchaburi Electricity Generating Holding PCL.
209
2013
2012
%
Revenue
52,847.96 57,360.23 (4,512.27)
(7.87)
Less Fuel Cost
36,026.82 39,773.80 (3,746.98)
(9.42)
Revenue (excluded Fuel Cost)
16,821.14 17,586.43
(765.29)
(4.35)
Cost of Sales and Expenses (excluded Fuel Cost)
11,989.45 12,301.02
(311.57)
(2.53)
4,831.69
5,285.41
(453.72)
(8.58)
Gain from Exchange Rate
704.11
798.05
(93.94)
(11.77)
Profit for the period
5,535.80
6,083.46
(547.66)
(9.00)
Non-controlling Interests
5.22
(210.31)
215.53 (102.48)
Profit Attributable to Owner of the
5,541.02
5,873.15
(332.13)
(5.66)
Company before extraordinary items
Extraordinary items
- Gain on termination of power purchase agreement
-
1,069.44 (1,069.44) (100.00)
- Gain on disposal of long-term investment
645.83
783.68
(137.85)
(17.59)
and long-term receivable
Profit Attributable to Owner of the Company
6,186.85 7,726.27 (1,539.42) (19.92)
Earnings per share (Baht)
4.27
5.33
(1.06)
(19.92)
Management Discussion and Analysis
For the Year Ended 31 December, 2013
1. Significant events of the year 2013
1.1 Power Purchase Agreement and financial
agreements of Xe-Pian Xe-Namnoy Hydroelectric
Power Plant Project
On February 6, 2013, Xe-Pian Xe-Namnoy Power
Company Limited (“PNPC”), has entered into Power
Purchase Agreement with Electricity Generating Authority
of Thailand (“EGAT”), specifying the agreement term of
27 years after the Commercial Operation Date, which is
expected to be in 2018.
On November 28, 2013, PNPC has entered into
financial agreements of the total amount of USD 714
million or approximately Baht 22,134 million with 4 Thai
financial institutes. The agreement is effective for 20 years
since the signing date and the debt to equity ratio of the
project is 70:30.
1.2 The disposal of shares of Sukhothai Energy
Company Limited
On January 23, 2013, Ratchaburi Energy Company
Limited, a subsidiary, has sold its 208,000 shares in
Sukhothai Energy Company Limited in a portion of 26
per cent at Baht 100 per share, totaling Million Baht 20.80
to the former shareholder of such company. As a result,
the portion of investment decreased from 51 per cent
to 25 per cent.
2. Operation Performance according to
consolidated financial statement
(Million Baht)
Increase
(Decrease)
