Mr. Jakgrich Pibulpairoj, President of Electricity Generating Public Company Limited or EGCO Group revealed the Company’s operating performance for the first quarter of 2018 that EGCO Group satisfactorily achieved its steady growth. For the net profit, the Company booked THB 20,171 million, an increase of THB 17,208 million or 581% when compared to the same period last year, due to its business performance and the divestment of 3 assets.

“For the first quarter of 2018, the Company disposed its shares in 3 assets comprising East Water, GIDEC Company Limited, and Masinloc Power Plant in Philippines and recognized total gains of THB 14,162 million. Those gains will be prepared for EGCO Group’s business expansion both domestic and overseas to generate steady return for the shareholders in the long run”, said Mr. Jakgrich.

Additionally, the Company’s 3 overseas power projects in pipeline consisting of “Xayaburi” and “Nam Theun 1” in Lao PDR and “San Buenaventura” in the Philippines has been progressed well as plan and scheduled to start their commercial operations in 2019 and 2022.

For business direction this year, EGCO Group is yet committed to sustainable growth and to generate steady and good return for the shareholders with an aim to maintain at least 10% return on shareholders’ equity (ROE). The Company still focuses on power business, which is its core expertise and sees great opportunities for business expansion in overseas markets where the Company has strong presence, Philippines as its flagship market, as well as Lao PDR and Indonesia. The Company is also exploring opportunities in other Asia Pacific countries, especially in renewable energy projects so to increase its renewable portfolio to 30% by 2026”, said Mr. Jakgrich. 

About EGCO Group
As of May 30, 2018, EGCO Group runs 26 operating power plants with total equity contracted capacity of 4,260 MW in 5 countries across Asia Pacific region – Thailand, Lao PDR, Philippines, Indonesia and Australia. There are 3 projects under construction with total equity contracted capacity of 544 MW. The Company’s power plants generate electricity using several fuel sources such as natural gas, coal, biomass, hydro, solar, wind, and geothermal.