IRPC has lost 2 years in a row due to global petrochemical fluctuations.

Bangkok, IRPC gives the green light to pay dividends to shareholders at 0.03 baht per share, despite losses for two consecutive years, accelerating the creation of business opportunities by joining hands with partners to further develop innovation and advanced technology. Paving the way to expand the New s-curve business Mr. Krit Imsaeng, Chief Executive Officer and President of IRPC Public Company Limited or IRPC, revealed that in the midst of the global economic slowdown. and facing risk factors from energy prices interest rate Throughout the petrochemical market situation that has not yet recovered, IRPC has had to face challenges and adapt to be able to conduct business. has the potential to be strong and sustainable The risk factors that occurred affected the operating results for the 4th quarter of 2023. The company had net sales income of 75,296 million baht, a decrease of 1,968 million baht or 3 percent compared to the previous quarter. The average selling price decreased by 4 percent following the decrease in crude oil prices. Meanwhile, sales volume increased by 1 percent, with the company having a gross profit. Production at the market price (Market GIM) was 2,719 million baht (4.31 USD per barrel), a decrease of 49 percent, and recorded a net inventory loss (Net Inventory Loss) totaling 1,986 million baht or 3.15 USD per barrel, resulting in to the company There was an accounting gross profit from production (Accounting GIM) of 733 million baht (1.16 USD per barrel), a decrease of 92 percent, resulting in the company having negative EBITDA of 2,256 million baht and a net loss of 3,417 million baht. For 2023, the company had net sales income of 299,075 million baht, a decrease of 6 percent compared to the previous year from a 22 percent decrease in average selling price following the decrease in crude oil prices, while sales volume increased percent. 16 with a Market GIM of 19,344 million baht (7.90 USD per barrel), a decrease of 19 percent. However, the average Dubai crude oil price for the whole y ear 2023 decreased from the previous year. As a result, the company recorded a total Net Inventory Loss of 1,123 million baht or 0.46 USD per barrel and had Accounting GIM of 18,221 million baht or 7.44 USD per barrel, an increase of 5 percent from the previous year, resulting in the company having EBITDA of 5,754 million baht. An increase of 1,767 million baht or an increase of 44 percent and the operating results for 2023, the company has a net loss of 2,923 million baht, 33 percent less than in 2022. The Board of Directors It was resolved to approve the payment of dividends for the 2023 operating results at the rate of 0.03 baht per share, equivalent to approximately 613 million baht, which will be presented to the general meeting of shareholders for consideration and approval on April 5, 2024. Mr. Krit said that in 2024, IRPC will continue to drive its business according to the strategy to further develop innovations in materials and energy, adhering to the importance of integrated business operations w ith sustainability. Consider the environment Society under the principles of good governance or ESG (Environment, Social and Governance) by seeing opportunities for business growth. and jointly develop and promote startup businesses and continues to increase the proportion of clean energy and expanding the production capacity of floating solar projects or Floating Solar by another 8.5 megawatts and integrating business sustainability The goal is to reduce carbon dioxide emissions by 20% by 2030 and reduce greenhouse gas emissions to net zero by 2060. Source: Thai News Agency