WHA Utilities and Power Public Company Limited (“WHAUP”) announced an interim dividend payment of 0.060 baht per share, expected to increase to 1,191 million baht and normal profit of 475 million baht, an increase of 426 % (YoY) after the power business recovered from an increase in Ft values reflecting fuel costs. Ready to move forward with investments in the water business – clean electricity both domestically and abroad To create growth towards sustainable development
Mr. Somkiat Masonthasuwan Chief Executive Officer WHA Utilities and Power Public Company Limited (“WHAUP”) Revealed that the meeting of the Board of Directors It was resolved to approve the payment of interim dividends for the year 2023 to shareholders at the rate of 0.060 baht per share. Demonstrates 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 in the amount 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. This includes exchange rate effects 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. This is an increase in normal profits. This comes from an increase in normal profit sharing from the electricity business, including an increase in Ft 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 that Water sales in Vietnam will grow further in line with customer demand as the WHA Industrial Zone Nghe An phase 1 gradually opens and plans to expand the utility business along with Developing WHA Group industrial estates in Vietnam
As for the electric power business, in the 3rd quarter of 2023, the company had a normal profit share 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 profit share from Electricity business 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, the sales of electricity to industrial customers have continuously improved gross margins. 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 business in the 3rd quarter of 2023 realized total revenue of 108 million baht, an increase of 44% (YoY) from an increase in solar power production capacity. that are open for commercial operation. As of the end of the third quarter of 2023, the Company has production capacity from solar power plant projects that are already in operation totaling 106 megawatts and has an accumulated number of power purchase agreements for Private PPA projects from solar power of 179. megawatts, resulting in a total of 730 megawatts of power purchase agreements based on shareholding percentage from all types of power plants.
Most recently, the company has signed a contract with Auto Alliance Thailand Company Limited (“AAT”) to install a floating solar system (Solar Floating) with an electrical generating capacity of 8 megawatts. on an installed area of 60,000 square meters in WHA Group’s Eastern Seaboard Industrial Estate (Rayong), which is expected to produce commercial electricity (COD) by September 2024.
