Energy/ RATCH Group

Editorial staff

SET-listed RATCH Group Plc has announced its 2024 operating performance with a net profit of 6.12 billion baht, a 19% increase from 2023, equivalent to 2.82 baht per share.

The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled 15.90 billion baht. Additionally, the company’s board of directors in the 2/2025 meeting on 25 February 2025 approved a 3.48 billion baht dividend, or 1.60 baht per share for the shareholders. The payment is expected to be made on 23 May 2025 after receiving approval from the annual shareholder’s meeting on 24 April 2025.

Nitus Voraphonpiput, chief executive officer of RATCH Group, said that the company continues steady growth, as reflected in a net profit of 6.12 billion baht and EBITDA of 15.90 billion baht, increasing 19% and 13% compared to 2023 respectively.

The result is positively contributed by profit sharing revenue from its joint ventures increasing to 6.79 billion baht or 78%, which was mainly driven by Hin Kong Combined Cycle Power Plant Unit 1 and Paiton Thermal Power Plant in Indonesia. Out of its total revenue of 42.20 billion baht, with power business contributed 40.02 billion baht accounting for 95% of the total. Of this, fossil fuel power plants generated 34.32 billion baht, while renewable power plants contributed 5.69 billion baht. The remaining of 2.17 billion baht, representing 5% of total revenue derived from infrastructure and other businesses.

The company's board of directors has approved a 3.48 billion baht dividend payment of the 2024 operating result to the shareholders, representing 56.8% of the net profits. Since the interim dividend of 1.74 billion baht, or 0.80 baht per share was paid on 20 September 2024, the year-end dividend of 1.74 billion baht, or 0.80 baht per share, will be paid following the shareholder approval by 23 May 2025.

"The company is striving for sustainable economic value growth, with the electricity generation business as its key driver. Currently, it is reviewing and redefining its strategic plan to enhance resilience and capitalize on investment opportunities in energy and power projects related to innovation and new business models for responding to energy transition in Thailand and other targeted markets. Over the past year, the company has explored new energy platforms for electricity generation, including green hydrogen, small modular nuclear reactor technology, and battery energy storage systems. Moreover, it continues to optimize its existing asset portfolio to ensure sustainable revenue growth. This strategic plan is expected to be finalized in the first quarter of this year,” Mr Nitus said.

As of 31 December 2024, the company's financial position recorded 214.33 billion baht in total assets, 107.96 billion baht in liabilities and 106.37 billion baht in shareholders' equity. The debt-to-equity ratio stands at 1.01 times.