Revenue Recognition from COD of Projects Keeps RATCH’s 9-Month Profit to Reach ฿5bn

Ratch Group Public Company Limited (RATCH) has reported its 3Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

The operating result of RATCH for the 3rd quarter of 2019 showed the profit of THB 1,364.84 million, decreased by THB 315.69 million or 18.79%. The main reason was Ratchaburi Power Plants had shutdowns for planned maintenance more than those of the same period of the previous year. This resulted in the decrease in revenue from sales and rendering of services (excluding fuel costs) due to the decrease in Availability Payment and the increase in power plants’ spare parts. In addition, RATCH recorded a loss on foreign exchange as AUD currency depreciated in relative to USD currency.

On the other hand, the operating result for the nine-month period of the year 2019 showed the profit of THB 5,058.41 million, increased by THB 119.42 million or 2.42% since the commencement of commercial operation of Mount Emerald Wind Farm Project and Collinsville Solar Power Project on December 12, 2018 and March 21, 2019, respectively this resulted in the increase in revenue from sales and rendering of services and cost of sales and rendering of services (excluding fuel costs). In addition, RATCH recorded the profit from Fareast Renewable Development Pte Ltd, acquired in December 2018 and Berkprai Cogeneration Company Limited, commencing commercial operation on June 1, 2019.