Thai Oil PCL (BKK:TOP)

฿ 27.75 -0.25 (-0.89%) Market Cap: 62.55 Bil Enterprise Value: 211.27 Bil PE Ratio: 6.14 PB Ratio: 0.37 GF Score: 69/100

Q2 2020 Thai Oil PCL Earnings Call Transcript

Aug 10, 2020 / 08:30AM GMT

Release Date Price: ฿42.54 (-2.29%)

Transcript

Unidentified Company Representative

Thank you for joining Thai Oil's Conference Call for earnings for the second quarter 2020. From Thai Oil side, we have management, Ms. Tarika, VP of Financial Planning; and all the IR team. For today's session, we will start with an accompanying presentation of the result for about 15 to 20 minutes and then we open the session for Q&A.

Tarika Devahastin

Thai Oil Public Company Limited - VP of Financial Planning

So for overall key highlights of the second quarter performance of Thai Oil, let me start with the Refinery business unit first. In terms of utilization rate in Q2, it was dropped to 98% from 111% in Q1. Tracking the overall Refinery run dropped in response to the COVID-19 pandemic. So that resulted in softened oil demand, especially in jet fuel from worldwide flight cancellations.

In terms of gross Refinery margin, excluding stock gain and loss for market GRM in Q2, we reported at around $1.4 per barrel, improved Q-on-Q from $0.1 per barrel in Q1. That was mainly supported by a lower crude cost due to huge

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