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The “Thai Oil” group still lost the oil stock in 9 months, negative 10 billion, although the third quarter had a net profit of 715 million baht.
Mr. Wirat Uanarumit, CEO and President of Thai Oil Public Company Limited or “TOP”, informed the Thailand Stock Exchange (SET) to present the financial statements and the Certified Public Accountant’s report for the quarter. 3 year 2020 ended September 30, 2020 reviewed by an auditor AND the Company’s Audit Committee
Thaioil Group’s performance for the third quarter of 2020 has a gross profit from Accoutng GIM production of $ 4.9 per barrel and with the amount of raw materials introduced into the process.
The group’s production is 2.6100 thousand barrels per day. As a result, Thaioil Group has sales revenue of 57.225 million baht and after deducting operating expenses Financial cost Income tax expense As a result, the third quarter of 2020, Thaioil Group had a net profit of 715 million baht (a increase over the same period last year with a net loss of 683 million baht) or equivalent to a net profit of 0.35 baht per share. Pre-tax oil inventories of 2,986 million baht and reversal of crude and finished oil inventories before tax of 378 million baht
For the 9-month operating results of the year 2020, Thaioil Group recorded a gross profit from the Group’s production, excluding the impact of the oil stock (Market GIM) at US $ 2.0 per barrel and with the raw material that is fed. To the group’s production process at 2,800 thousand barrels per day As a result, Thaioil Group has sales revenue of 183,248 million baht and after deducting operating expenses Financial cost Income tax expenses Total net foreign exchange loss As a result, the operating results of 2020 for 9 months, Thaioil Group had a net loss of 10.559 million baht (a decrease from the same period last year with a net profit of 4.293 million baht) or equivalent to a net loss of 5.18 baht per share . Loss of oil stocks before tax 9.19 billion baht
As of September 30, 2020, Thaioil Group has total assets of 300.9 billion baht, an increase of 17,455 from the end of the previous year.
Millions of baht mainly due to an increase in non-current assets This was due to an increase in land, plant and equipment from investment in various projects as planned and net assets for rights of use were recorded. In accordance with the Thai Financial Reporting Standard No. 16 (TFRS16)
Thaioil Group’s total liabilities increased by 29.858 million baht from the end of last year to 189.379 million baht due to an increase in long-term loans and obligations after the issuance of the Thaioil Treasury Center (TTC). And it offered debentures to foreign institutional investors in June 2020, in addition to increasing other non-current liabilities. The main reason is the registration of the lease liability (TFRS16) in Thaioil Group’s equity. The total amount was 12,522 million baht, a decrease of 12,402 million baht from the end of last year. Of Thaioil Group’s full comprehensive loss of operating results and dividend payments including receipt of freckles Aggravated by the introduction of the new financial reporting standard for the first time, there was a loss.
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