RATCH Group’s net profit up 15% in 9M

Power generation accounted for 95% of revenues.

Thailand’s RATCH Group Public Company Limited has reported a 15% increase in its net income, reaching $158.17m (THB 5.49b) in the first nine months of the year (9M 2024) amidst higher profit sharing of joint ventures and outperformance of its power plants in Australia and Indonesia.

In a statement, RATCH said power generation was a key growth driver, generating $921.43m (THB 31.95b) or 95% of the total revenue in 9M. Of this, renewable energy power plants contributed 14%, and conventional power plants accounted for 82%.

Over the past nine months, joint ventures, including Paiton Power Plant, Hin Kong Power Plant, and Calabanga Solar Farm, contributed $153.22m (THB 5.312b) in profit sharing, whilst RATCH-Australia Corporation, a wholly-owned subsidiary, generated $155.8m (THB 5.41b) in revenue, driven by Lincoln Gap Wind Farm 1 and 2, and Snapper Point Gas-fired Power Plant.

RATCH Group has also issued $115.1m (THB 4b) in green bonds.

The company completed four pipelined projects with a combined capacity of 1,183 megawatts as planned, and investment in committed projects was made by $709.1m (THB 24.62b).

“We strive for collaboration with strategic partners to find new business aligned with carbon neutrality goal and net zero emission goals, particularly in low-carbon fuels with strong potential for the future,” said RATCH Group CEO Nitus Voraphonpiput.

$1 = THB34.75