ข่าวแจ้งตลาดหลักทรัพย์
Unreviewed F/S and Business Operations' Explanation Q3/2003
1600 / 184 / 2003
October 29, 2003
The Stock Exchange of Thailand
62, Ratchadapisek Road, Klongtoey
Bangkok 10110
Attention : President of The Stock Exchange of Thailand
Subject : Filing Unreviewed Financial Statements and Business Operations'
Explanation for Quarter 3, 2003
Attachment : 1. Unreviewed Financial Statements for Quarter 3 (Thai 1 Copy)
2. Unreviewed Financial Statements for Quarter 3 (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
quarter 3 ended September 30, 2003 and also would like to explain reasons for
the variation in business operations in accordance with the profit and loss
account more than 20 percent from that of the same period of 2002 as follow :
Regarding to the 3rd quarter's business operations in 2003, the Company's
total revenues were BHT. 15,103 million and it reported the net profit of
BHT. 119 million- higher than that of the same quarter in 2002 by BHT. 305 million
(the 2002 third quarter's net loss was BHT. 187 million). Such profit resulted
from the following factors:
1. Gross refining margin, excluding the effects of changes of oil prices
and foreign exchange rate fluctuations in the 3rd quarter 2003,
increased by 0.26 $/BBL from 1.00 $/BBL to 1.26 $/BBL.
2. Marketing margin in the 3rd quarter 2003 was nearly to that in
the same quarter of last year, however, the Company's retail sales
through service station and industrial markets increased by 44 million
liters or 11.1% and 8 million liters or 5.2% respectively.
3. During July - August 2003, the prices of crude oil and finished products
in the world market decreased by 2 $/BBL on average, due to the
intense situation in Iraq. On the contrary, Thai Baht continually
appreciated by BHT 1.2 against a US dollar. These affected to the
higher Company's profit of BHT 230 million, however, it was lower than
that of the same quarter in 2002 by BHT.150 million.
4. Since the Company made a prepayment of World Bank loan in the
3rd quarter 2002, it incurred the prepayment fee by BHT. 92 million.
However, this had enabled the Company to reduce its interest expenses
by approximately BHT. 85 million per annum.
5. The Company posted a gain from the foreign exchange fluctuations by
BHT 191 million in the 3rd quarter 2003, it increased by BHT. 358 million
comparing to that in the same quarter of last year, which posted a
foreign exchange loss of BHT. 167 million.
Please be informed accordingly.
Yours sincerely,
(Watcharapong Saisuk)
Assistant Vice President, Corporate Planning Office
Corporate Planning Office
Tel: 0-2335-4583