Bangkok: EGCO Group, formally known as Electricity Generating Public Company Limited, has revealed a significant financial milestone for 2024, reporting a net profit of 5,412 million baht, representing a remarkable 165% increase. The company attributed this growth primarily to the enhanced performance of its large power plants situated abroad. In light of these achievements, EGCO Group announced a dividend payment of 3.25 baht per share for the second half of the year, culminating in a total annual dividend of 6.50 baht per share, equating to a dividend yield of approximately 6%.
According to Thai News Agency, Dr. Jiraporn Sirikham, President of EGCO Group, highlighted the company's proficient management across various operational facets including power plants, fuel costs, and financial assets in multiple countries. This strategic management led to the company recognizing total revenue of 46,341 million baht, with an operating profit of 9,283 million baht, marking a 6% rise, and a net profit increase by 165% compared to the previous year. The boost in performance was largely driven by the enhanced operations of international power plants such as Yunlin in Taiwan, which amplified its electricity sales volume significantly. Additionally, EGCO Group's ventures in the Philippines, Laos, and the United States also contributed positively, with the APEX project in the US, a major renewable energy initiative, noting increased revenue from project sales.
The board of directors, in a meeting held on February 28, 2025, decided to propose this dividend payment to the annual general meeting of shareholders (AGM) set for April 11, 2025. Upon approval, the dividend disbursement for the entire year of 2024 would be 6.50 baht per share, with the payment scheduled for April 23, 2025. This decision underscores EGCO Group's robust business foundation and strong cash flow, enabling it to maintain consistent dividend payments, aligning with its dividend stock policy to provide continuous returns to shareholders.
Looking ahead to 2025, EGCO Group is advancing its business strategy under the 'Triple P' framework, which focuses on three core areas: continuous income and profit generation, achieving low-carbon organizational goals, and comprehensive organizational transformation for future sustainable growth. The company is actively pursuing investment opportunities, especially in the United States, to expand its energy business footprint. With approximately 4-5 projects under negotiation, accounting for a combined production capacity of over 1,000 megawatts, EGCO Group is poised to finalize these negotiations in the second quarter of the year, further solidifying its commitment to both natural gas and renewable energy sectors domestically and internationally.