8,213mn, an increase of THB 228mn or 2.9% from THB 7,985mn as of 31 March 2017. Total current assets were THB 2,395mn, decreasing by 8.3% or THB 218mn, primarily due to 1) a decrease in cash & cash

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the 4th quarter and year ended December 31th, 2019 2 Management Discussion and Analysis of Business Operation for FY2019 Bangchak Corporation Plc. | 03 Table of Contents 06 09 29 25 27 31 Executive Important Events Summary Business Performance 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based Products 23 - Natural Resources Statement of Cash Flows Statement Financial Ratios Environment Manag...

liabilities stood at THB 7,174.9mn • Debt to Equity ratio stood at 1.04 times as of 31 December 2019, decreased from 1.14 times as at end of 2018 Change in accounting policies and reclassification in 2019

Baht 40.6 million (or +4.1%) and the Food Business of Baht 75.6 million (or +16.6%). An increase of Net Profit mainly resulting from the more effective debt management that enabled the Company to reduce

equivalents and current investments Cash & cash equivalents and current investments as of 31 December 2017 and 2016 were THB 154 million and THB 1,349 million, respectively, decreasing by THB 1,195 million or

(IK/DB) tumbled by 19%, with average Gasoil to Dubai crack spread (GO/DB) also decreasing by 14% from the previous year. In addition, Bangchak refinery in this quarter went through maintenance of its

Spring26’s License, the Company expects to gain the benefits as follows: (7.1) Compensation as a result of this request for the License return shall reduce debt burdens of the Company; enabling it to repay

Liabilities As of 31 December 2018, the Company held total liabilities of THB 265.48 million, decreasing 60.61% from the end of last year. Total liabilities fell as short-term loans from financial institutions

decreasing profit. Financial position Assets Unit: Million Baht 30 September 2017 31 December 2016 Increase (decrease) % Variance Current assets 4,781 3,932 849 22% Non-current assets 3,393 2,937 456 16% Total

, the net profit was Baht 43.31 million, decreased by 3.41 million or decreasing by 7.3 percents in which performance for the company and its subsidiaries in the current three-month period compared to the