Bangchak Sriracha Public Company Limited (BSRC) has unveiled an impressive performance report for the first half of 2024. The company boasts total revenue from sales and services amounting to THB 129,631 million, an EBITDA of THB 3,604 million, and a profit of THB 1,077 million, translating to an earnings per share of THB 0.31. The refinery business has reached a new pinnacle, setting a record with a high refining utilisation of 154,900 barrels per day in May, and averaging 152,200 barrels per day throughout the first half of the year. The total sales volume soared to an extraordinary 4,745 million litres, marking a 16% surge from the previous year.
BSRC’s CEO, Bundit Hansapaiboon, shared that despite the turbulent energy prices, the company demonstrated remarkable success in both the Refinery and Marketing segments during the first half of 2024. Bundit emphasized that BSRC’s unwavering dedication to maximizing refining utilisation led to increased gasoline production—the highest proportion seen since the company’s inception—all while reducing crude oil costs. The company adeptly balanced distribution and refining strategies, which powered consistent operations and revenue growth.
Significant Performance in the First Half of 2024
Refinery Business: In the second quarter, the Sriracha Refinery broke fresh ground with a refining utilisation of 154,200 barrels per day, the highest quarterly figure in BSRC’s history. During this period, the refining rate was ramped up to maximize business capabilities, allowing Bangchak to supply fuel products to the Phra Khanong Refinery during its scheduled maintenance in 2024.
Marketing Business: The innovative marketing strategy was a resounding success as the volume of products distributed at service stations surged to 1,759 million litres. This achievement was driven by an efficient marketing plan and the swift rebranding of service stations to the Bangchak logo. By the conclusion of the second quarter, a remarkable 488 service stations had successfully transitioned to the Bangchak branding.
Bundit concluded with an optimistic note, stating, “Moreover, BSRC triumphantly launched its inaugural debenture at the end of July, showcasing confidence in the company’s performance and growth potential. Since integrating into the Bangchak Group, BSRC has remained steadfast in advancing the business under the vision of ‘Shaping a sustainable future with premier energy through innovative solutions.’ This vision underscores our mission to foster growth and address various challenges through enhanced management and efficiency. By reinforcing our competitive edge and consolidating our business strengths within the Bangchak Group, we are paving the way for sustainable and robust growth.”
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