IRPC Faces a Net Loss of ฿1.17bn after Oil Price Fell, Offering a Dividend at ฿0.10

IRPC Faces a Net Loss of ฿1.17bn in 2019 after Oil Price Declined and THB Appreciated, Offering a Dividend at ฿0.10

IRPC Public Company Limited (IRPC) has reported its yearly consolidated financial statement of 2019 through the Stock Exchange of Thailand as follows;

IRPC reported a consolidated net loss for 2019 of 1,174 million baht, represented the loss per share of 0.06 baht. The net sales of IRPC amounted 216,577 million baht, decreased by 16% when compared to 2018. mainly affected by 12% decrease in selling price due to decline in crude oil price and the THB appreciated against USD. Also, sales volume was down by 4%. The average crude intake was 197,000 barrels per day, decreasing by 5% according to planned maintenance shutdown of RDCC for 28 days and ADU1 for 18

days, respectively.

IRPC had Market GIM 19,555 million baht or 8.70 dollars per barrel, decreased by 14,052 million baht or 42% from last year as mainly from the dramatically decline in almost all products spread of petroleum and petrochemical products, due to impact of the U.S. – China trade war tension and the economic slowdown including rising crude premium.

However, IRPC has approved a dividend payment from the operation at the rate of 0.10 baht/share and will be payable on April 24, 2020.