“WHA Utilities and Power” interim dividend of 0.060 baht per share, expected to increase to XD on 22 Nov. 2023 and scheduled to be paid on 4 Dec. 2023 after the operating results statement. Quarter 3 had normal revenue and profit sharing of 1,191 million baht and normal profit of 475 million baht, an increase of 426% from the previous year after the electricity business recovered from an increase in Ft values reflecting fuel costs.
Mr. Somkiat Masonthasuwan, Chief Executive Officer WHA Utilities and Power Public Company Limited (WHAUP) revealed that the Board of Directors’ meeting resolved to approve the payment of interim dividends for the year 2023 to shareholders at the rate of 0.060 baht per share. There will be an XD sign (the date when there is no right to receive dividends) on November 22, 2023, and the dividend payment is scheduled for December 4, 2023, demonstrating the potential for financial strength. and stability of cash flow that reflects the ability to pay dividends to shareholders regularly. This is in line with the continuously growing operating results. In the 3rd quarter of 2023, the company recognized normal revenue and profit sharing of 1,191 million baht and had a normalized net profit of 475 million baht, an increase of 72% and 426%. respectively, compared to the same period last year (YoY), and had a net profit including the effect of exchange rates of 512 million baht, an increase of 1,844% from the previous year.
For operating results for the first 9 months of 2023, the company had normal revenue and profit sharing of 3,068 million baht, an increase of 44% and normal profits of 1,123 million baht, an increase of 165% compared to the same period last year. and had a net profit of 1,250 million baht, an increase of 304% compared to the same period last year. The increase in normal profit came from an increase in the share of normal profit from the electricity business and the Ft value was adjusted to reflect the cost of natural gas. This causes profit margins in the SPP electricity business that sells to industrial customers to recover. While the amount of water sold both in the country and in Vietnam continues to grow
In the 3rd quarter of 2023, the overall utility business (water) grew from the volume of water sales and management both domestically and internationally, totaling 41 million cubic meters, an increase of 13% (YoY), resulting in the first 9 months of 2023 Total water sales and management were 117 million cubic meters, an increase of 5% (YoY). The increase in domestic water sales volume was mainly driven by an increase in raw water sales volume due to increased demand for water. of energy group customers
Meanwhile, water sales in Vietnam Especially from the Duong River project, there is still continuous high growth. The company expects water sales in Vietnam to grow further in line with customer demand as the WHA Industrial Zone Nghe An phase 1 gradually opens and plans to expand its utility business. In parallel with the development of WHA Group’s industrial estates in Vietnam.
As for the electric power business, in the 3rd quarter of 2023 the company had a normal share of profits from the electricity business of 484 million baht, an increase of 76% compared to the 3rd quarter of 2022, while the first 9 months of 2023 had a normal share of profits from the business. Electricity amounted to 949 million baht, an increase of 116% (YoY) from the recovery of profit sharing from the SPP power plant group as the Ft value was increased to reflect the cost of natural gas. As a result, in the area of selling electricity to industrial customers, gross profit margins continue to improve. Meanwhile Share of profits from the GHECO-One coal-fired power plant in the 3rd quarter of 2023 has increased from the same period last year. GHECO-One coal-fired power plant undergoes maintenance shutdown Resulting in a reduced electricity availability value.
Meanwhile, the Solar Rooftop power plant business in the 3rd quarter of 2023 realized a total revenue of 108 million baht, an increase of 44% (YoY) from an increase in solar power production capacity that is in commercial operation. At the end of the 3rd quarter of 2023, the Company had production capacity from solar power plant projects that were already in operation totaling 106 megawatts and a total of 179 megawatts of private PPA power purchase agreements from solar energy projects, resulting in The total shareholding power purchase agreement from all types of power plants is 730 megawatts.
Most recently, the company signed a contract with Auto Alliance Thailand Co., Ltd. (AAT) to install a floating solar system with a capacity of 8 megawatts on the installation area. 60,000 square meters in WHA Group’s Eastern Seaboard Industrial Estate (Rayong), which is expected to begin producing commercial electricity (COD) by September 2024.
