Bangkok – WHA Utilities & Power Plc (WHAUP) disclosed that its 9M/2019 performance recorded total revenue of THB 1,387.3 million and net profit of THB 1,738.0 million, rose by 5.8% YoY. Its normalized net income was THB 1,470.7 million, surging 18.6% YoY on growth of water sale volume from utilities business, the excellent performance of Gheco-One Power Plant from returned back to normal operation after the major maintenance in the first quarter, and newly COD of 1 SPP Power Plant in January. WHAUP’s Board of Directors resolved to pay interim dividend at THB 0.0925 per share with the date on which a purchaser will not be entitled to receive the dividend (XD) will be on November 21, 2019, and the payment date of interim dividend will be on December 4, 2019. “CEO Mr. Wisate Chungwatana” said the overall business and performance in the fourth quarter looks good as expected. WHAUP plans to start the COD of Chonburi Clean Energy’s waste to energy power plant this November and realize revenue sharing from the investment in Vietnam, whose share transfer and transaction has been completed since October, and this will support the company’s sustainable growth.
Mr. Wisate Chungwatana, Chief Executive Officer of WHA Utilities and Power Plc or ‘WHAUP’ said about the 3Q/2019 performance ended September 30, 2019 that the company recorded total revenue of THB 452.8 million, rose by 2.1% YoY, and normalized share of profit was THB 408.1 million, rose by 14.7% YoY. The increase was mainly from Gheco-One Power Plant resumed back to normal operation after the major maintenance in the first quarter, and newly COD of Gulf NLL2 Power Plant since January 2019. WHAUP posted its normalized net income of THB 445.8 million, rose 1.5% YoY.
For performance in 9M/2019, WHAUP had total revenue of THB 1,387.3 million, rose by 7.6% YoY, and normalized share of profit was THB 1,243.1 million, rose by 18.3% YoY. WHAUP had its net profit of THB 1,738.0 million, rose by 5.8% YoY, which included THB 267.3 million of foreign exchange gains, and normalized net profit of THB 1,470.7 million, rose by 18.6% YoY.
For the power business, the Gulf NLL2 power plant achieved COD in January 2019 with an installed capacity of 127 MW, representing 32 Equity MW. As a result, WHAUP had its total capacity at the end of 3Q/2019 stood at 556 Equity MW under operation. The company currently had signed new 19.9 MW in 2019, exceeding the target of 15 MW.
Moreover, Board of Directors also approved interim dividend for the 9M/2019 (Jan-Sep) at THB 0.0925 per share. The Record Date to entitle rightful shareholders to receive the dividend will be on November 22, 2019, the date on which a purchaser will not be entitled to receive the dividend (XD) will be on November 21, 2019, and the payment date of interim dividend will be on December 4, 2019.
The CEO of WHAUP noted that the company’s overall business in the fourth quarter of this year will continue focusing on the integrated utilities and power businesses in both industrial estate and non-industrial estate areas. By the year-end, it plans to start the COD of Chonburi Clean Energy’s waste-to -energy power plant with the capacity of 8.63 MW in WHA Chonburi Industrial Estate 1.
WHAUP will continue to expand its utilities business among existing and new customers. The company will realize revenue sharing from the investment in 34% shares in Duong River Surface Water Plant JSC Co (SDWTP) in Vietnam by the end of this year. SDWTP is the producer and provider of tap water in Hanoi with the current production capacity is 109.5 million cubic meters per year.