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

Q3 2020 Thai Oil PCL Earnings Call Transcript

Nov 06, 2020 / 01:00AM GMT

Release Date Price: ฿36.82 (+0.68%)

Transcript

Operator

Good morning, everyone. Welcome to Thai Oil's Earnings Call for Third Quarter 2020. For today's session, the company will brief about the key highlights of the financial performance in Q3, and then we open the session for Q&A.

Tarika Devahastin

Thai Oil Public Company Limited - VP of Financial Planning

Okay. Thank you. For overall key highlights of the third quarter performance of Thai Oil in each business unit, let me -- starting from Refinery business unit. In terms of utilization rate in Q3, it was dropped to 93% from 98% in Q2 as we're still in the mode of optimization in response to the COVID-19 pandemic resulting in softened oil demand, especially in Jet/Kero from global flights cancellation. For 9 months of this year, the rate was still high at 101%, lower than the year before about 4%.

And in terms of gross Refinery margin, excluding stock gain and loss, for market GRM in Q3, we reported at minus $1.1 per barrel, tracking Q-on-Q from $1.4 per barrel in Q2. That was mainly pressured by higher crude costs due to increasing OSP of Middle East

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