BCP Reports Better Performance in 3Q as Covid Outbreak Slows Down and Demand Picks Up

Bangchak Corporation Public Company Limited (BCP) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

BCP reported a net loss of 647 million baht in 3Q20, contrasted to its net profit of 369 million baht in 3Q19, but better than the previous quarter which reported a net loss of 1,911 million baht.

 

As for 3Q20 performance, the company recorded revenue from sale of goods and rendering of services of THB 33,652 million (+27% QoQ, -28% YoY), and recorded EBITDA of THB 2,769 million (+145%QoQ, +29%YoY), which improved from the previousquarter. As the COVID-19 outbreak situation has begun winding down, the government announces the easing of further lockdown measures. This led to the oil consumption to pick up gradually and the average Dubai price increased from the previous quarter.

 

In this quarter, the company recorded an inventory gain of THB 272 million (including reversal on losses on inventory devaluation (NRV) THB 26 million).