PDI continues its investment plan in the second half of 2018

Stocks and Financial Services Press Releases Wednesday June 20, 2018 14:51
Bangkok--20 Jun--ทําดี พีอาร์

PDI is speeding up its new investment plan to achieve its target in the second half of this year. Thanks to PDI's recent strong financial performance, the company now has more than 2 billion baht ready to invest. The company's solar farm business is expected to increase capacity by 100 megawatts this year. PDI is confident that its 2018 revenue and profits are trending positively, even if the results may not be as high as last year.

Mr. Francis Vanbellen, Managing Director of Padaeng Industry Public Company Limited (PDI), said the company is intensifying exploring investments in the renewable energy business. Currently, PDI has a solid financial position, with expected free cash exceeding 2 billion baht ready to invest. Most likely that company will invest more in renewable energy business this year, as it seeks to expand its solar capacity by another 100 megawatts.

"Our renewable energy business has progressed well and we expect to make additional investments in this area in the second half of 2018," Mr. Vanbellen said. "Moreover, additional investments in environmental management and materials recycling are being explored. PDI is considering acquiring potential companies with attractive returns on investment to generate sustainable revenues and profit."

Mr. Vanbellen stated that the company's prospective performance in 2018 is positive, with future revenues and profit to be mainly generated from renewable energy and zinc trading businesses. Also, additional returns on the sales of assets maybe expected. PDI ended its traditional zinc production business last year. The company set a target of trading 50,000 tons of zinc metals in 2018.

On May 18, 2018, PDI registered to increase its capital with the Ministry of Commerce from 2,260,000,000 baht to 3,013,333,330 baht by issuing 75,333,333 new ordinary shares with 10-baht par value for a total of 753,333,330 baht to accommodate the conversion of PDI-W1 warrants, at an exercise price of 33-bath. This capital increase will help the company to have a strong financial structure for future business expansions.

In the first quarter of 2018, PDI recorded revenue of 1.289 billion baht and a net profit of 97 million baht, down from the same period last year when it posted a net profit of 313 million baht. This was due to PDI closing its conventional zinc business last year, as it has entirely switched its business model to zinc trading this year. However, PDI will remain positive with profits mainly from the renewable energy business and other incomes from the management of existing obsolete assets from the zinc business.

About PDI

PDI, or Padaeng Industry Public Company Limited, was founded April 10, 1981 and listed on the Stock Exchange of Thailand with a registered capital of 2,260 million baht. PDI was a zinc mining and smelting company for over 30 years. In 2014, PDI reassessed its business structure in anticipation of a shift to sustainable business, with the objective to increase eco-efficiency and to foster growth. The Company is structured in three business units: PDI Energy – providing energy mainly from renewable sources; PDI Materials – providing added value materials from recycled materials; and PDI Eco – providing waste management solutions for complex industrial waste


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