Esso Thailand : Analyst Presentation - 4Q 2022 and Full Year 2022 Results
March 02, 2023 at 10:09 am
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4Q and FY2022 ANALYST PRESENTATION
28.02.2023
Disclaimer
The information contained in this presentation is provided by Esso (Thailand) Public Company Limited (the "Company") and is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information concerning the Company. None of the Company, or any of their respective members, directors, officers, employees or affiliates nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith.
This presentation contains statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of operations and financial condition, and future events and plans of the Company. These statements can be recognized by the use of words such as "expects," "plans," "will," "estimates," "projects," or words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions. Forward-looking statements are based on
management's knowledge and reasonable expectations on the date hereof, and the Company assumes no duty to update these
statements as of any future date.
This presentation does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. No reliance may be placed for any purposes whatsoever on the information set forth in this presentation or on its completeness.
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Industry and Business Environment
Average Dubai prices in 4Q22 was $84.9/Bbl and FY2022 was $96.3/Bbl
4Q and FY2022 Industry gross refining margin was $6.3/Bbl and $10.7/Bbl
4Q and FY2022 Thailand GDP growth 1.4% and 2.6% year on year
FY2022 Thailand fuel demand increased 13.5% year on year
Source : GDP forecast : Bank of Thailand, Reuters: Oil prices and Industry GRM, DOEB: Industry demand growth
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4Q and FY2022 HIGHLIGHT
2022 Net Profit
2022 Operating GRM
9,509 Million Baht
$9.0/Bbl
4Q Net profit of -1,563 MTHB
4Q Operating GRM of $6.9/Bbl
2022 Retail sales volume
Retail Footprint
57
KBD
802
stations
4Q Retail sales of 59 KBD
Exceeded plan of 800 stations
2022 Crude intake
131 KBD
4Q Crude intake of 130 KBD
2022 GHG intensity reduction
1.2%
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Margins and Crude Intake
Industry Gross Refining Margin ($/Bbl)
Crack Spread ($/Bbl)
10.7
UGP
40.4
40.7
38.1
ADO
6.1
7.1
6.3
18.8
3.4
15.5
12.3
13.2
9.4
11.1
8.1
4Q21
3Q22
4Q22
2021
2022
4Q21
3Q22
4Q22
2021
2022
Gross Refining Margin ($/Bbl)
Crude Intake (Kbd)
Accounting GRM
Operating GRM
7.5
9.4
9
124
134
130
123
131
7.4
6.9
5.4
4.5
3.1
-1.5
-7.4
4Q21
3Q22
4Q22
2021
2022
4Q21
3Q22
4Q22
2021
2022
Source : Reuters, Platt's
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Esso Thailand pcl published this content on 28 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 March 2023 10:07:38 UTC.
Bangchak Sriracha PCL, formerly Esso (Thailand) Public Company Limited, is a Thailand-based company engaged in the refining and marketing of petroleum products, which includes a network of retail service stations. The Company operates a refinery and chemical manufacturing plant in Sriracha, Thailand. The Company also operates distribution facilities and oil terminals throughout Thailand. The Companyâs products are sold through a network of retail service stations, directly to industrial customers, and through export. Additionally, the Company is also involved in the sale of chemical products to both domestic and overseas customers. The Company operates through the petroleum products segment. The Company markets Mobil branded lubricants to both the consumer and commercial sectors. In addition to lubricating products, the Company also markets a variety of chemicals under the ExxonMobil brand, including Isopar, Exxsol, and Solvesso. The Company is a subsidiary of ExxonMobil Group.