Glow’s Q1 cheered by power, steam

SET-listed Glow Energy Plc, an independent power producer with cogeneration facilities, posted a net profit of 2.63 billion baht in the first quarter from strong demand on power and steam.

The company had net revenue of 13.8 billion baht and earnings before interest, taxes, depreciation and amortisation (Ebitda) of 4.93 billion baht, according to chief executive Brendan Wauters.

That was slightly below earnings in the same period of last year when it posted consolidated revenue of 16.1 billion baht, Ebitda of 4.95 billion baht and net profit of 2.18 billion baht.

“To compare net profit and revenue in the first quarter with last year’s first quarter, we need to take last year’s special revenue into account,” said Mr Wauters.

Excluding the special revenue last year, the rise in revenue and profit in the first quarter was satisfactory and showed a solid performance, he said.