Bangchak : Factsheet Q1/2024

BCP	Resource / Energy & Utities
SET100 / SETCLMV / SETTHSI
	Establish Date 08/11/1984
As of 31 Mar 24
Paid-up (MB)			Listed Date
1,376.92			02/08/1994

As of 31 Mar 24

A

Stable

Par

1.00 Baht

BANGCHAK CORPORATION PUBLIC COMPANY LIMITED

Share Price			SET Index		52 Week High/Low
45.50			1,377.94		31.00/47.50
	SET : IND 1,377.94			BCP : TB 45.50

Market Cap (THB Million)

62,650.00

FACTSHEET Q1/2024

Change
60%							BCP
40%
20%
0%							SET
-20%
May'23	Jul'23	Sep'23	Nov'23	Dec'23	Jan'24	Feb'24	Mar'24

Dividend Policy: ≥ 30 percent of net profit after deduction of allocation of legal reserve

However, this is subject to the economic situation, the Company's cash flow and investment plans of the Company and its subsidiaries according to the necessary, appropriation and other concerning as the Board of Directors' consideration.

Unit: THB per Share

										2.15						5.25		8.89	2.25	9.27
						2.00		1.80	4.07						2.00	2.00
	1.35					3.47		1.35
			1.00	3.01	1.00	1.10			0.80			1.00		1.00
3.38			1.00		1.79					1.50
				0.50	1.18	0.40
	0.75	0.51	0.40		1.00		0.80		1.05		0.30		1.00		1.25	0.50
	0.60	0.60					0.85		0.50	0.40
2013		2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
															(5.50)
EPS	1st Half		2nd Half

As of 07 Mar 24				No. of Listed Share: 1,376,923,157
		3.17					45.53		Shares
4.76
	Thai NVDR Company Limited	18.69
13.67								Social Security Office	14.18
										Vayupak Fund 1	13.67
										Ministry of Finance	4.76
14.18			18.69		South East Asia UK (Type C) Nominees Limited	3.17
			Others	45.53

BANGCHAK CORPORATION PUBLIC COMPANY LIMITED

2098 M Tower Building, 8th Floor, Sukhumvit Road,

Phra Khanong Tai, Phra Khanong, Bangkok 10260 Thailand.

Tel.: [phone]

Email: [e-mail]

Website: www.bangchak.co.th

For more information

IR Website

MD&A

Business Performance

Carbon Neutrality	Net Zero
by 2030	by 2050

Disclaimer : The information contained herein is being furnished on a confidential basis for discussion purposes only and only for the use of the recipient, and may be subject to completion or amendment through the delivery of additional documentation. Except as otherwise provided herein, this document does not constitute an offer to sell or purchase any security or engage in any transaction. Theinformation contained herein has been obtained from sources that The Bangchak Corporation Public Company Limited ("BCP") considers to be reliable; however, BCP makes no representation as to, and accepts no responsibility or liability for, the accuracy or completeness of the information contained herein. Any projections, valuations and statistical analyses contained herein have been provided to assist the recipient in the evaluation of the matters described herein; such projections, valuations and analyses may be based on subjective assessments and assumptions and may utilize one among alternative methodologies that produce differing results; accordingly, such projections, valuations and statistical analyses are not to be viewed as facts and should not be relied upon as an accurate representation of future events. The recipient should make an independent evaluation and judgment with respect to the matterscontained herein.

BUSINESS	REFINERY AND OIL TRADING BUSINESS GROUP
PERFORMANCE	ACCOUNTING EBITDA		CRUDE RUN (KBD)	REFINERY GRM ($/BBL)
4,404 MB			104%	101%	101%	Phra Khanong Refinery
Q1/2024								10.16
DISTRIBUTION CHANNELS				86%	3.13	7.38	7.29
NET PROFIT	As of Q1/24		69%	271.7	11.44
(% total sales volume)			240.2	0.83	0.74
(Attributable to owners of the parent)	49%					119.3	150.3		7.27	7.39
			124.7
2,437 MB		32%
10%		124.7	120.8	121.4	(4.41)	(0.71)	(0.84)
	9%
		Q1/23	Q4/23	Q1/24
ACCOUNTING					Q1/23	Q4/23	Q1/24
				Phra Khanong	Sriracha
EBITDA	Retail	Export	Industrial	Wholesale			Operating GRM
Refinery		Refinery
Market		Market
15,308

Sriracha Refinery

5.17

(1.30) 0.23

5.03

2.00	(0.08)
(3.30)

Q4/23 Q1/24

Inventory Gain (Loss)

Bangchak Group
10.16
3.13
11.44	3.07	6.12
	0.46
	0.42	6.08
	4.65
(4.41)	(2.00)	(0.42)

Q1/23 Q4/23 Q1/24

Oil Hedging

PRODUCT YIELD

9%			1%
			Asphalt
	FO &
Intermediate		4%
						UCO
43%
		HSD
						10%
28%				JET
		4%
MOGAS

LPG

Q1/24

CRUDE PRICE & CRACK SPREAD ($/BBL)

90
86					83.16					DTD
									DB
82					81.22
78
74
70
Q1/23	Q2/23	Q3/23	Q4/23	Q1/24
30											GO-DB
24					23.14						IK-DB
					21.19						UNL95-DB
18					17.87
									LSFO-DB
12					7.65
6
0
Q1/23	Q2/23	Q3/23	Q4/23	Q1/24

MB

MARKETING BUSINESS GROUP

ACCOUNTING EBITDA	SERVICE STATIONS		MARKETING MARGIN (Baht/Liter):
2,217 Sites	1,003 Stores	BCP&BGN exc. Inventory gain (loss) & NRV
BY BUSINESS	0.93	1.16
(% OF TOTAL EBITDA)			0.86

REFINERY & TRADING

NATURAL RESOURCES

7,404 MB

Q1/23

Q4/23

Q1/24

4,404 MB

CLEAN POWER

SALES VOLUME BY MARKET

MARKETING

29%

48%

1,411 MB

(Liters/Month) (Million Liters)

BIO-BASED PRODUCTS

EV CHARGING STATIONS

1,295

3,541

1,899

MB

9

%

Total installed in

1,384

3,388

12%

284 MB

299 Stations

1,614

2,094

2,156

2%

OTHER (94 MB)

427

1,186

% of Total EBITDA in the quarter -1%

Q1/23

Q4/23

Q1/24

Retail

Industrial

CLEAN POWER BUSINESS GROUP

BIO-BASED PRODUCTS BUSINESS GROUP

NATURAL RESOURCES BUSINESS GROUP

HOLDING

ELECTRICITY SALES(1)

OPERATING CAPACITY(2)

HOLDING PORTION

SALES VOLUME

SALES VOLUME

HOLDING PORTION

Total Sales Volume (Net to OKEA)

PORTION

(GWh)

(GWh)

Thailand

JAPAN

LAOS

by BCP

- B100

- Ethanol

BY BCP

(Kboepd)

46.6

by BCP

Thailand

114

Hydro

Solar

Solar

Hydro

(Million Liters)

(Million Liters)

175 MWppa (14%)

80 MWppa (6%)

114 MWppa (9%)

7%

1,700

85

1,683

87

Solar

Wind

37.9

Oil

Japan

Wind

22%

143

23

66

24

9 MWppa (1%)

50

6%

8

15

Q1/24

256

Natural Gas

(3)

USA-Combined

45.00%

67

120

25

15%

25.6

71%

Gas

1,491

Laos

14 MWppa (1%)

Natural Gas

78

28

79%

31%

57.81%

232

88

1,441

Wind

Turbines (CCGT)

OKEA ASA

8%

NGL

PHILIPPINES

857 MWppa (69%)

Listed in SET in 2022

45.58%

Listed in SET in 2016

106

25

USA

23

Listed in Oslo Stock Exchange

61%

14

Q4/23

Q1/24

Note (1) Including BCPG and its subsidiarires

Q1/23

Q4/23 Q1/24

Q1/23 Q4/23

Q1/24

in 2019

Q1/23

857

(2) The group's total contractual capacity based on investment portion

Q1/23

Q4/23

Q1/24

(3) BCPG's associate

FINANCIAL

ACCOUNTING EBITDA

QoQ

YoY

TOTAL REVENUE
QoQ	YoY

NET PROFIT*

QoQ

YoY

STATEMENT OF FINANCIAL POSITION

(THB Million)

48% 39%	15,308

(THB Million)

-5% 68%

(THB Million)

349% -11%

* Attributable to owners of the parent

(THB Million)	31 Dec 23

31 Mar 24
352,406	352,406

PERFORMANCE

					QoQ	YoY
		Refinery &Trading ……………. 229%	9%

Marketing …………………………	-6%	158%
Clean Power Plant …………….	35%	66%
Bio-Based Products ………….. 12%	165%
Natural Resources …..……….. 30%	37%

					7,404
	10,992			10,310
	5,414			5,683			284
	107						1,411

142,922 135,382

80,538

2,741

2,437

Cash and	340,429	340,429
36,754		41,287
Equivalent		47,840
Inventory
	37,287			128,268
Other Current
Assets		99,174
			31,905
Other
				38,937

	34,091	47,053
60,180
		128,769
	39,051
	100,757
	30,810
			41,350

Trade & Other Current Payables

L/T loans and Debentures (included current portion

of L/T loans and debentures)

Decommissioning

Others*………………………… -161% 36%

• Others were defined as EBITDA from others and elimination

	253	1,899
852
737	1,048	4,404
4,029	2,021
1,340
	(94)
(147)	(36)

Q1/23 Q4/23 Q1/24

(977)

Q1/23 Q4/23 Q1/24

Non Current	119,374
Assets	100,032
PP&E
Net IBD/Equity* (Times)	0.91

118,327	104,424
	0.91

Other liabilities Equity

Q1/23

Q4/23

Q1/24

*Total equity attributed to owner of the parent