Friday, February 12, 2021, 20.32
GPSC shows annual profit growth of 85%.
Year 64, forward New S-Curve
GPSC reveals 20-year operating results, sweeping profits, continuing growth of 7,508 million baht, an increase of 85% through the COVID-19 crisis. Key factors driven by the recognition of full-year results is the first year of GLOW after the merger. And announced a dividend payment at the rate of 1.50 baht per share for the 2020 performance XD March 3, 2021, starting in the year ’64, moving forward to expand the energy innovation business of the PTT Group, to drive the New S-Curve business and open a unit factory Energy Storage Unit within the second quarter of ’21
Mr. Worawat Pitayasiri, Chief Executive Officer and President of Global Power Synergy Public Company Limited (GPSC), PTT Group’s power business leader, revealed that the net profit of the parent company for the year 2020 The amount was 7,508 million baht, an increase from the year 2019 by 3,447 million baht or 85 percent, mainly due to the earnings recognition from GLOW for the full year 2020, as well as the reduction of natural gas and coal costs. Down by market conditions Causing the Company’s operating results Especially small power plants (SPPs) have a higher margin from electricity sales. Moreover, the financial cost of the company Decreased from capital restructuring The capital increase was completed in October 2019, and the loan restructuring from the acquisition of GLOW was completed in March 2020. In addition, the Company also received additional income from dividend income. Share of profit from investments in associates and joint ventures Including the recognition of Synergy value from the merger of GLOW of 701 million baht, mainly from the joint management of the power plant and network.
For operating results in 4Q2020, the Company’s equity net profit amounted to 1,813 million baht, an increase of 19% compared to the same period of the previous year. This was mainly due to the decrease in natural gas and coal prices. Compared with the third quarter of 2020, the net profit of the parent company decreased 43%, mainly due to the decrease in gross profit of IPP power plants due to the revenue from the availability payment portion. According to the US dollar (USD-linked AP), the decline was due to the appreciation of the baht, and the Glow IPP power plant had been operating at full Contracted Available Hours (CAH) since early December 2020. Spending maintenance according to the plans of Glow SPP 3 and 11 and shutdown of the Glow Energy Phase 5 power plant.
The meeting of the Board of Directors Has passed a resolution approving the 2020 dividend payment at the rate of 1.50 baht per share, or approximately 56% of the consolidated net profit. Divided into an interim dividend payment for the first half of 2020 performance at a rate of 0.50 baht per share, which the company had already paid on September 14, 2020, thus remaining a dividend for the performance for the performance. The second half of the year 2020 to be paid at the rate of 1.00 baht per share, the Company determines the list of shareholders who are entitled to receive dividends (Record Date) on March 4, 2021 (or XD March 3, 2021) and set Dividend payment date on April 21, 2020 after the approval from the 2021 Annual General Meeting of Shareholders.
“The epidemic of COVID 19 from late 2020 to the present, the company has focused on stabilization. To create stability for the electricity and steam generation system To deliver continuously to industrial customers By enhancing safety measures for personnel Especially the production control unit and operation It has even been able to produce to meet the demand for electricity, steam and utilities efficiently, ”said Mr. Worawat.
For business strategy in 2021, the company focuses on expanding investment in energy innovation. Especially in the New S Curve business group, as a mainstay of PTT Group’s power business innovation in order to support the changes in the electric power business in the future. This is reflected in the success of the G-Cell battery production with Semi-Solid technology from 24M Technologies, the first cell in Thailand at the end of 2020, with the expected 30 MW / hr capacity storage unit. Will be ready for production by the second quarter of this year 2021
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