East Water (EASTW) showed performance in 2022 with a profit of 712.81 million baht, with a dividend payment of 0.21 baht per share. Investors responded to the most popular bonds. The debenture limit is prepared to be increased to 16,000 million baht.

East Water reveals the performance in 2022 with net profit reaching 712.81 million baht and an additional dividend is paid to shareholders at 0.09 baht per share, totaling 0.21 baht per share for the year. The board is preparing to seek approval from the shareholders’ meeting this April and proposes to increase the debenture limit from 8,000 million baht to 16,000 million baht to support the vision of growing both raw water, industrial water, and integrated water business.

               Mr. Cherdchai Pitiwacharakul, President of Eastern Water Resources Development and Management Public Company Limited or East Water (EASTW), revealed the performance for the year 2022 that total revenue from sales and services was 4,262.90 million baht, decreased by 367.60 million baht or 7.94%, mainly from a decrease in the amount of raw water sold as compared to the 2021 performance and a net profit of 712.81 million baht, decreased by 357 million baht or 33.63%.

               For the year 2022, East Water earned revenue from raw water sales at the amount of 2,593.62 million baht, decreased by 348.08 million baht or 11.83% compared to the previous year, due to continuous heavy rainfall. As a result, customers, especially consumer groups, can use water from natural sources more than the same period last year. The amount of distributed raw water is 263.75 million cubic meters from 2021 which was 296.85 million cubic meters. Customers can be divided into 64% of industrial estates, 21% of consumer groups, 5% of general factories group, and 11% of waterworks business of the company group.

As for the revenue from the sale of tap water, the amount was 1,396.77 million baht, decreased by 33.29 million baht or 2.33%, which decreased from the amount of tap water sold by 3.58 million cubic meters or 3.69% compared to the year 2021. Income from the sale of industrial water was 63.38 million baht, which increase from the year 2021 by 45.48 million baht or 254.06%. The direction of industrial water sales tends to grow, as the company made contracts with new customers continuously. Currently, there are customers waiting for the contract to be signed and some are under construction.

               As for the dividend payment for the year 2022, the Board of Directors is preparing to seek approval from the shareholders’ meeting this April to pay dividends for the year 2022 at the rate of 0.21 baht per share, consisting of an interim dividend payment at the rate of 0.12 baht per share and dividend payment for the last 6 months of 2022 at the rate of 0.09 baht per share. The list of shareholders who are entitled to receive dividends (Record date) will be determined on 27 April 2023 and the dividend payment is scheduled on 19 May 2023.

               For the vision to support the growth of the raw water, industrial water, and integrated water business, the Board of Directors is preparing to propose to the Annual General Meeting of Shareholders for 2023 to consider and approve the increase of the bond issuance limit to 16,000 million baht. In this connection, the EEC area’ demand for raw water, industrial water, and integrated water continuously increase, while the company has the strength of the "Water Grid" pipeline system covering 3 provinces, which is the key foundation that can continue to invest and expand continuously both in the EEC area and throughout the country in the future.

               East Water (EASTW) focuses on operating efficiency and conducting business on the basis of transparency, good governance, and sustainability, including taking into account the stakeholders to achieve the goal of managing water sufficiently for all sectors. In addition, EASTW also focuses on improving the quality of life of the community for sustainable growth and is ready to step forward into the 4^th decade to create water security, increase the potential of the water pipeline network, support the increasing demand for water, and continue to generate sustainable growth.