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...

renewable energy by supporting power plants that use fuel from biomass and wastes, as well as solar rooftop system and energy storage systems. This is a positive factor that supports the expansion of

deferred remunerations and benefits accrued for the year, even if they are payable at a later date. In the case where the remunerations in the previous year do not reflect the actual remunerations (for

from audited financial statement as of 31 December 2017 is calculated from Total Assets - Total Liabilities - Deferred Tax Assets - Goodwill (852.05 - 612.87 - 0.59 - 240.80) without deducting Intangible

; investments in associates of Bt41 million; deferred tax assets of Bt54 million; and other non-current assets of Bt69 million. The increase in total assets of Bt186 million from December 31, 2017, was due mainly

Company has repaid some debentures in the first quarter of 2018 3. Decrease in other non-current liabilities of THB 103.1 mm, mainly due to the decrease of deferred withholding tax and deferred VAT

investment value, the company also add 379 million baht on deferred tax liabilities, of which reflecting directly to increase in total liabilities of 346 million baht. Please be informed accordingly Kindly

from financial institutions decrease by Baht (49.63) million Current portion of long-term loan from financial institution increase by Baht 4.59 million Deferred income tax liabilities increase by Baht

Transfer in 2016. Income tax for the year 2019 Baht 0.1 million has recorded base from deferred taxation accounting. Please be informed in accordingly. Your sincerely, -Naravadee Waravanitcha- (Ms. Naravadee

of the last year (decrease by 27.15%). This finance costs were from the deferred interest of a financial lease. Net Profit In 2019, the company’s net profit was 159.18 million baht (10.41 % of sale