). Total Gross Refinery Margin (Total GRM) rose 67% YoY and 26% QoQ, while Market GRM lowered from the decreasing production volume. Moreover, the average crude price adjusted upward in the quarter, leading
| 2 Executive Summary In 3Q/2019, overall palm oil production and crude palm oil (CPO) inventory remained high in both domestic and international market, thus crude palm oil (CPO) and crude palm kernel
of 0.96 THB. The company and its subsidiaries recorded total EBITDA of THB 3,580 million (+28% YoY, +42% QoQ), performance improved, especially for the Refinery Business, of which average crude run
market, where the oil business is in on a downward trajectory following slowing global economy due to the trade war between the US and China. The Dubai crude price in 2019 averaged at 63.51 $/BBL, a
effect of the widened Crude premium over Dubai, as well as the lowered oil product spread over crude oil price. There was an Inventory Loss of THB 70 million, and GRM hedging loss. Marketing Business Group
affected by the year round global oil price fluctuation, especially in the last quarter which oil price plunged drastically. Moreover, the refinery recorded lower crude run due to its 45 days turnaround
Rule”). Currently, the Company focus on the business expansion of the crude palm oil (CPOA) trading business for biodiesel as there is a high potential growth and will partially conducting a trading CPOA
1,386 million, or earning per shares of THB 1.01. The company and its subsidiaries performance improved, especially the Refinery Business Group which still maintains its average crude run at a high level
Steel Public Company Limited Page 9/14 5. Industry Overview and Outlook Overview of World Steel Industry According to the World Steel Association’s report on world crude steel production was 478.7 MT in
). Table 1 : Performance Summary Table 2 : Adjusted EBITDA Margin In the face of volatile crude palm oil and crude palm kernel oil prices’ movement, both had continued to decrease from quarter 1/2017 due to