IRPC reveals 3Q23 made a profit of 2,439 million baht.

Bangkok, IRPC reveals operating results for the 3rd quarter of 2023, turning a profit of 2,439 million baht, ready to expand its investment in the high-growth hospital and health accommodation business (Health and Wellness). In the EEC potential area, supporting the country's strategy towards a Medical Hub,

Mr. Krit Imsaeng, Chief Executive Officer and President of IRPC Public Company Limited or IRPC, revealed that operating results in the 3rd quarter of 2023 compared to the 2nd quarter/ 2023, the company had net sales income of 77,264 million baht, an increase of 6,509 million baht or 9 percent, mainly due to the average selling price increasing 14 percent following the increase in crude oil prices. Meanwhile, sales volume decreased by 5 percent, with gross profit from production at market price (Market GIM) at 5,373 million baht or 8.87 USD per barrel, an increase of 29 percent due to the difference in petroleum product prices. that has increased significantly Especially the price difference for diesel products. and recording a net profit from oil stocks (Net Inventory Gain) totaling 3,566 million baht or 5.89 USD per barrel, resulting in the company There was an accounting gross profit from production (Accounting GIM) of 8,939 million baht or 14.76 USD per barrel, an increase of 5,732 million baht or 9.53 USD per barrel, resulting in the company Profit before interest Tax, depreciation and amortization (EBITDA) amounted to 5,880 million baht, an increase of 5,770 million baht and a net profit of 2,439 million baht, compared to the 2nd quarter of 2023 with a net loss of 2,246 million baht for operating results for the 9-month period of 2023. The company had a net profit of 494 million baht.

For the crude oil market situation in the 4th quarter of 2023, the US policy interest rate remains the main factor affecting the value of the US dollar. and energy costs respectively It is expected that at the end of the 4th quarter of 2023, the United States may increase interest rates further. and crude oil prices decreased due to the global economic slowdown. As for the outlook for the petrochemical market situation in the 4th quarter of 2023, it is expected that the demand for petrochemical products will be stable or improve slightly. Due to entering the Traditional Peak period due to demand for destination products during year-end festivals. Expect to see a recovery in demand from China. which is the main market of the petrochemical business

Moreover, the semiconductor shortage is beginning to return to normal. As a result, it can produce electrical appliances and electronic equipment. In order to respond to the purchasing demand that still exists. Although there are still pressure factors from the increase in new production capacity and the conflict situation between Israel and Hamas. and concerns about the global economic downturn

Mr. Krit added that IRPC drives the strategy to further develop innovations in materials and energy. Especially in the health business group Hygiene and medicine This is a new business group that IRPC gives importance to and sees opportunities for growth. We have made a memorandum of understanding or MOU with the Bang Pakok Hospital Group and Piyavate Hospital. To develop hospital business and health accommodation (Hospital and Wellness center) in the potential area of IRPC, Rayong Province, with the aim of helping to improve the quality of life and health of the people of Rayong Province and nearby provinces. To provide access to holistic health services Both for prevention and treatment through high quality medical facilities. as well as supporting the strategy for developing Thailand in the EEC area to become an international health center (Medical Hub)

. IRPC is committed to and gives importance to integrated business operations with sustainability. It operates with consideration to the environment and society under the principles of good governance or ESG (Environmental, Social and Governance). By such business principles, IRPC has received an outstanding award for “Model Human Rights Organization” for the year 2023, for the 5th consecutive year, from the Department of Rights and Liberties Protection Ministry of Justice Type of large business organization Demonstrate business operations that respect human rights principles. Giving importance to the principle of equality acceptance of differences and pay attention to stakeholders

“IRPC's business operations have always focused on cooperation with trading partners. Customers and business partners both domestically and abroad To join in supporting and driving business operations. with good governance along with social and environmental responsibility,” Mr. Krit said.

Source: Thai News Agency