margin decreased by 3 percentage points to 7% in 2019 from 10% in 2018. SGA expenses decreased by 2% [THB 19m] due to reduced SGA expense at the Jiaxing plant. Payout Analysis For the year 2019 the company

period of the last year with Baht 2.26 million. This sharing of gain (loss) has come from the investment in energy business i.e. the biomass power plant in the southern of Thailand and the solar power

through three new business development initiatives as follows: 1) Battery Business: investment in a pilot plant of a battery manufacturing facility using Semi Solid Lithium-ion technology. Capacity of the

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

DCORP 027/2018 Date 13 March 2018 Subject Board of Directors’ meeting resolution regarding the operation of the biogas power plant project of Aukkrarawat Plant Renewable Energies Co., Ltd. (“Aukkrarawat

since 4Q’16 and increase in demand of existing customers. b. Industrial Water sales volume increased by 7.0% YoY mainly from COD of Gulf VTP Gulf TS1 and Gulf TS2 Power Plant COD in May. July, and

DCORP 020/2018 Date 27 February 2018 Subject: Board of Directors’ meeting resolution regarding the operation of the biogas power plant project of Aukkrarawat Plant Renewable Energies Co., Ltd

Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 21 24 26 28 Executive Statement Summary of Income Business Performance 8 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products

cogeneration power plant project. The power plant has an installed capacity of 121 MW. The project is located in Klongnueng sub-district, Klonglaung district, Pathumthani province. The project has entered into

company increased by Baht 1,154 million or 118% from Q4/2018 and increased by Baht 646 million or 43% from Q1/2018. The increase was mainly due to improved operating results of the Sriracha Power Plant and