ข่าวแจ้งตลาดหลักทรัพย์

-TRANSLATION- 1000 / 119 / 2006 April 28, 2006 Subject : Filing Unreviewed Financial Statements and Business Operations' Explanation for Quarter 1, 2006 Attention : President of The Stock Exchange of Thailand Attachment :1.Unreviewed Financial Statements for 1st Quarter, 2006 (Thai 1 Copy) 2.Unreviewed Financial Statements for 1st Quarter, 2006 (English 1 Copy) As the Bangchak Petroleum Public Company Limited (BCP) has filed unreviewed and unaudited financial statements following the Stock Exchange of Thailand's guidelines for filing unreviewed and unaudited financial statements; The Company would like to file unreviewed financial statements for the 1st Quarter ending March 31, 2006 and also would like to explain reasons for the variation in business operations as follow: Regarding to the business operations in 1st Quarter, 2006, the Company's total revenues were Baht 26,510 million, EBITDA was Baht 1,320 million, net interest expense was Baht 149 million, Depreciation and Amortization were Baht 209 million, and the net profit before tax was Baht 899 million deducting the corporate income tax of Baht 233 million; therefore, the Company posted Baht 666.21 million of net profit (net profit of 1st Quarter, 2005 was Baht 438 million) and the earning per share of Baht 0.97. Such profit resulted from the following factors: 1. Gross Refining Margin (not including inventory gain/ loss) was 3.31 $/BBL, higher than that of the same period of last year which was at 1.89 $/BBL.This result was based on the optimization program of the refinery operation. The Company also recognized gain from hedging in order to protect the risk from oil price volatility which resulted from incident occurred to major oil producing country e.g. the political problem in Nigeria and the conflict between Iran and Western countries. In addition, the Company also recorded inventory gains of Baht 462 million which was lower than that of the same period of last year at Baht 678 million due to the oil prices in 1st Quarter, 2005, increasing at higher rate than that of this year; however, the oil prices trend in this year still be on an upward trend. In summary, the total Gross Refinery Margin was 5.12 $/BBL, and the crude run was 66 KBD nearly to that of the same period of last year at the level 69 KBD. 2. Marketing Margin was 44.4 satang per liter higher than that of the same period of last year which was at the level 22.7 satang per liter since, 1st Quarter, 2005, the retail oil prices were adjusted slower than its cost which was increased sharply and continuously following the oil prices in the world market. However, in 1st Quarter, 2006, oil prices in Singapore market were less fluctuated so that retail prices could be adjusted in consistent with the costs resulting to the higher marketing margin. 3. Selling and administrative expenses was Baht 371 million, decreased by Baht 3 million since the doubtful debt was decreased comparing to that of the same period of last year. 4. Net interest expense was Baht 158 million, decreased from that of the same period of last year by Baht 2 million since average loan outstanding amount was decreased; even though, the interest rate is increased. 5. Financial position and ratios; Mar 31, 2006 Dec 31, 2006 (Million Baht) (Unreviewed) (Audited) * Total Assets 33,303 34,164 * Total Liabilities 19,822 21,294 * Shareholders' Equity 13,481 12,870 * Debt to Equity Ratio (time) 1/ 0.96 1.05 * Book Value per Share (Baht) 19.62 18.72 Remark 1/ Calculation from Interest Bearing Debt Please be informed accordingly. Yours sincerely, - Signed - (Anusorn Sangnimnuan) President Corporate Planning and Investor Relation Office Tel: 0-2335-4583