Nonthaburi - RATCH Group Public Company Limited reported THB12,830 million of its operating profits before interest, taxes, depreciation, and amortization (EBITDA) in the first nine months (January - September) of 2024, higher THB1,701 million or 15% from the same period in 2023, while net profit increased THB730 million to THB5,485 million, rising 15%. Higher profit sharing of joint ventures and outperformance of RATCH-Australia Corporation's power plants and Indonesian-based hydroelectric power plants drove the company's operating performance growing substantially and the total revenue in the period was recorded THB33,616 million.
Mr. Nitus Voraphonpiput, Chief Executive Officer of RATCH Group, stated that the company is committed to sustainable growth by targeting an annual EBITDA no less than THB 12,000 million. To achieve the target, RATCH put the best efforts on managing the efficiency of operating power plants to maintain their optimal dispatch availability, keeping projects on track in construction and completion on schedule for increasing revenue, and securing funding to support its investment expansion. The operating performance over the past nine months reflected our efforts with THB5,312 million profit sharing from joint ventures rising 64% which included Paiton Power Plant, Hin Kong Power Plant and Calabanga Solar Farm, THB5,409 million revenues of its wholly-owned subsidiary, Ratch-Australia Corporation increasing 57% bolstered by Lincoln Gap Wind Farm 1&2 and Snapper Point Gas-fired Power Plant, as well as its success in THB4,000 million green bonds.
"The power generation business is considered the company's key growth driver. It generated THB31,949 million in revenue, representing 95% of the total revenue in the first nine months of 2024. Of this, renewable energy power plants contributed THB 4,567 million, or 14% of the total revenue, while conventional power plants accounted for THB 27,382 million, or 82%. In addition, the company completed four pipelined projects with a combined capacity of 1,183 MW as planned, and investment in committed projects was made by THB24,619 million. Furthermore, we strive for collaboration with strategic partners to find new business aligned with carbon neutrality goal and net zero emission goals, particularly in low-carbon fuels with strong potential for the future," said Mr. Nitus.
As of September 30, 2024, the company recorded total assets of THB212,817 million, THB110,833 million liabilities, and THB101,984 million shareholders' equity. Its financial position is still solid proven by debt-to-equity ratio at 1.09 times and a rate of return on equity at 5.49%.