Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 20 22 24 26 Executive Statement Summary of Income Business Performance 08 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products

million, declined from the wind power plant business being affected by seasonal factors, while the geothermal power plant recorded a decrease in profit from one-time financial expense for debt refinancing

power, as farm income continued to be constrained by low prices of agricultural products and nonfarm income remained lackluster. Moreover, high levels of household debt caused the generation of new loans

power was limited following rising energy price and inflation. The increased cost of living put pressure on consumers to spend wisely and reduced costs where required. The economic recovery benefited

power was limited following rising energy price and inflation. The increased cost of living put pressure on consumers to spend wisely and reduced costs where required. The economic recovery benefited

power was limited following rising energy price and inflation. The increased cost of living put pressure on consumers to spend wisely and reduced costs where required. The economic recovery benefited

company would like to update the progress of debt restructuring as followings; From early of 2016, the Company was contacted by Asia Credit Opportunities I (Mauritius) Limited (“ACO I”), the juristic person

of Baht 125.68 million or 27.65 percent according to additional investment in solar power plant of 10.0 MW, biomass of 6.8 MW and wind power of 10.0 MW in 2016 - Hotel business that company has

Ratios Debt to Equity times 0.42 0.42 0.45 Interest coverage times 531.88 227.59 95.03 Dividend payout (%) 55.85%* 55.65% 67.84% * Pending for approval from the 2019 annual shareholders’ meeting Operating

) which is held 33.37 percent of total shares by ECF Power Company Limited (ECF-P) and ECF-P is the subsidiary held 99.99 percent by the Company. At the present, SAFE could gain profit from biomass power