WHA Utilities and Power Public Company Limited (WHAUP)reveals its 2019 performance with Total Revenue of THB 1,857 million, Net Profit of THB 2,137 million, and Normalized Net Profit of THB1,793 million, increased by 4.5% compared to the year 2018. Growing performance was driven by the sales increase of Utilities business, both from domestic sales and contribution from investment in Doung River Water Treatment Plant in the 4th quarter 2019, and additional operational capacity ofPower business. The Company will propose to the Shareholders’ Meeting to approve dividend payment of THB 0.16 per share, in addition to the interim dividend payment of THB 0.0925 per share paid on December 2019.
Mr. Niphon Bundechanan, Chief Executive Officer of WHA Utilities and Power Plc or 'WHAUP’, reveals that “For the 2019 performance ending December 31, 2019, the Company generated Total Revenue of THB 1,857 million, rose by 8.7%, Normalized Share of Profit and Dividend Income of THB 1,612 million, rose by 1.6%, and Normalized Net Profit of THB 1,793 million, rose by 4.5% compared to the year 2018. Overall business of WHAUP has grown and expanded in both Utilities and Power businesses. For Utilities business, sales of Industrial Water increased by approximately 4% while the business expanded into High Value Products such as Reclamation Water and Demineralized Water. In 2019, the Company signed the supply contract of Demineralized Water with key customer. The Company strongly believes that there will be further growth in this area in 2020. In terms of overseas expansion, the Company invested in Duong River Water Treatment Plant for 34%stake, which the operation of this project is in line with the plan set forth and expected to start sharing profit contribution in year 2020.
For the Power business, the Company has a solid level of Normalized Share of Profit with additional share of profit from the GNLL2 project that started COD since January 2019. Development of the 8.63 MW Waste-to-Energy Power Plant was successfully completed and started COD in November 2019. Moreover, the Company has continuously signed additional Solar Rooftop contracts and gradually starts COD as planned. WHAUP also has plans to further develop renewable energy business after opening of Waste-to-Energy Power Plant in November last year. Recently, the Company has made a collaboration with the Provincial Electricity Authority (PEA) to jointly develop energy innovations such as Smart Microgrid, Peer-to-Peer Energy Trading and Energy Storage.
WHAUP CEO also noted that, “The 2019 performance was solid. In addition, the Company successfully issued debentures amounted of THB 3,000 million in the middle of February 2020. The issue received great responses from institutional investors. As a result, the Board of Directors resolved to propose to the Shareholders' Meeting to approve the total dividend payment for the 2019 operating results of THB 0.2525 per share, which the interim dividend had already been paid to the shareholders amounted of THB 0.0925 per share, and additional dividend to be paid of THB 0.16 per share. The Record Date has been set on May 5, 2020.”