Lower Exchange Gain Plunges GLOW’s 2018 Profit to Face 10% Deficit
GLOW's 2018 profit fell to -10% after receiving lower net exchange gain.
Glow Energy Public Company Limited (GLOW) has reported its consolidated financial statement yearly 2018 through the Stock Exchange of Thailand as follows:
In 2018, net profit for GLOW was ฿8,212.4 million, a decrease of 9.5% from ฿9,075.9 million in 2017. The revenue of GLOW derived primarily from sales of electricity to EGAT and sales of electricity, steam, clarified and demineralized water and chilled water to industrial users in the MIE Area and SEIP Area.
The lower in net profit was mainly due to the lower in net exchange gain. when comparing 2018 to 2017, the net exchange gain of 2018 was ฿107.4 million, 88.7% lower than that of 2017. The larger net exchange gain in 2017 than in 2018 was due to significant Thai baht appreciation in 2017 comparing to slight Thai baht appreciation in 2018.
