The New Chapter of Growth- Wind Energy Holding. Announcing a 15-billion-baht income target over the next three years

According to Mr. Nuttpasint Chet-udomlap, Chief Executive Officer of Wind Energy Holding Co., Ltd., or WEH, a pioneer in Thailand's renewable energy sector, the Company mostly invests in other businesses, concentrating on the generation and distribution of wind power. With a total installed capacity and power plant management capability of 717 megawatts, there are now 8 wind power plant projects.

In the provinces of Nakhon Ratchasima and Chaiyaphum, individual subsidiaries are in charge of each project. According to the Power Purchase Agreement, the Group sells all of the electricity it generates to the Electricity Generating Authority of Thailand (EGAT).

The business' primary source of income is from the sales from the production of wind energy, where the Company can successfully sustain growth from 9.97 billion baht in 2020 to 10.98 billion baht in 2021. Additionally, it was able to pay a dividend return on equity of 30.50 baht per share in 2021 with an excellent annual profit margin of between 40 and 50 percent.

In the first half of 2022, the Company's overall revenue was 5.1 billion baht with an increase in other revenues of 470 million baht from unrealized short-term capital gains. Costs were also cut by 110 million baht, or 13%. From the cash flow perspective, the Company generated up to 4.9 billion baht in operating cash flows only in the first half of the year.

Regarding this year's remaining months, growth is anticipated to continue, with the fourth quarter serving as the peak season annually. Additionally, the company has profited from the increase in power prices for 2022 from the Ft released by EGAT, which is about 6% growth year over year. In 2022, the company targets growth of about 5-7%, or nearly 12 billion baht in annual revenue.

The company plans to grow its overall capacity from wind power to 1,500 megawatts during the next three to five years, Mr. Nuttpasint said. We are also seeking for profitable investment opportunities within the next five years, both domestically and internationally.

"The company intends to increase its ability to generate electricity and is putting together bids for two 60-megawatt solar projects and nine 90-megawatts wind projects. The projects are worth about 50 billion baht. With the company's existing capital availability, solid financial situation, and manageable debt-to-equity ratio, it is anticipated to go up for submission by the end of 2022. Additionally, there are skilled in-house employees and technical expertise ready for the new development and operation of wind and other renewable energy projects. It is anticipated that this will enable the Company with a competitive proposal for the new projects." Mr. Nuttpasint mentioned.

In addition, the Company invested in Nusasiri Public Company Limited through Thana Power Holding Co., Ltd. (a subsidiary of the Company) as it started to diversify its operations beyond wind energy to the healthcare and beauty sectors.

Additionally, the Company intends to step into foreign markets such as Vietnam and other countries with high growth potential to diversify their risks and expand their opportunities to secure long-term profits for the company. The business has set a growth target of 15 billion baht in three years.

According to Mrs. Busakorn Kordumrong, Chief Financial Officer of Wind Energy Holding Co., Ltd., or WEH, as a result of the aforementioned business plan, the company is getting ready to issue long-term debentures in the name of the holder, non-subordinated categories, with an interest rate of 6.75% annually. The company makes proposals of up to 2 billion baht to institutional investors and/or high net worth individuals with the aim of investing in the preparation of the energy and non-energy business expansion and securing the working capital funds.

The situation for the company's ongoing problems is improving, even though they are still pending in court or arbitration. This applies to both the conflicts between the families of former directors, which the Lower Court is currently considering, and the transfer of shares to Golden Music Limited ("GML"), which is currently being scheduled to define the course and length of the entire judicial process. The Company anticipates that the disagreement will most likely be resolved by the end of 2023.

The majority shareholder structure, the company's management structure, and its activities, according to the company, are unaffected by the dispute. Current Board of Directors, executives, employees, and contractors have strong records of operational excellence and are fully in charge of managing the Company's power plants to supply electricity to EGAT, in compliance with the industry's standard and the international best practices.

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