News Detail

Date/Time
09 Aug 2018 17:03:00
Headline
Management Discussion and Analysis Quarter 2 Ending 30 Jun 2018
Symbol
SUSCO
Source
SUSCO
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                Management Discussion and Analysis

Company name                             : SUSCO PUBLIC COMPANY LIMITED
Year                                     : 2018
Quarter                                  : Quarter 2
Ending                                   : 30-Jun-2018
Note                                     :

                                               TRANSLATION

No. Sor Kor. Bor Chor Ngor.  068/2561
 August 9, 2018

Subject :       Submission of the Reviewed Interim Financial Statements for the 
three - month and six - month period ended  June 30, 2018 together with  the
explanation of the significant causes affecting the operating results to vary
more than 20% from those of the same period of  the preceding year.

To :              The President
                     The Stock Exchange of Thailand

Enclosures : The  Reviewed Interim Financial Statements for the three - month  
and six - month  period ended June 30, 2018 of  SUSCO  Plc. and its subsidiaries
 and the Review  Interim Financial Report by the Certified Public Accountant.

Enclosed  are the Reviewed Interim Financial Statements for the three-month and 
six-month period ended  June 30, 2018, and the Reviewed Interim Financial Report
by the Certified Public Accountant, with  the explanation of the significant
causes affecting the operating results to vary more than 20% from those of the
same period of the preceding year, which can be summarized as follows :

1.    The Company's Financial Statements
1.1  In the second quarter of 2018, the Company had a sales volume of 213.903 
million litres,  an increase of 32.794 million litres, or 18.11% from the same
period of 2017, and the total revenues of Baht 4,733.71 million, an increase of
Baht 1,006.71 million, or 27.01%, from the same period of 2017. The significant
causes of the increasing in the net sales revenue were the increasing of sales
volume and product prices and the increase in the average sales margin per
litre.
The Company had a profit before income tax of Baht 68.40 million, comparing with
Baht 115.17 million of the same period of 2017, a decrease of Baht 46.77
million, or 40.61%. The significant cause of the decrease in  the profit before
income tax was a less dividend received from the subsidiary company, despite the
higher  gross profit and the increase in the sales volume. The Company net
profit after income tax was Baht 54.97 million, a decrease of Baht 55.70 million
or 50.33%, comparing with Baht 110.67 million of the same period of 2017, the
details of which are shown in the Separate Comprehensive Income Statement
attached herewith.
1.2  For the six-month period ended June 30, 2018 the Company had a sales volume
of 423.611 million litres,  an increase of  58.061 million litres, or 15.88%
from the same period of 2017, and the total revenues of Baht 9,198.92 million,
an increase of Baht 1,570.66 million, or 20.59%, from the same period of

2017. The significant cause of the increasing in the net sales revenue was the 
increasing of sales volume and product prices and the increase in the average
sales margin per litre, the details of which are shown in the Separate
Comprehensive Income Statement attached herewith. The Company had a profit
before income tax of Baht 145.60 million, comparing with Baht 155.30 million of
the same period of 2017, a decrease of Baht 9.70 million, or 6.24%. The
significant cause of the decrease in  the profit before income tax was a less
dividend received from the subsidiary company, despite the higher  gross profit
and the increase in the sales volume . The Company net profit after income tax
was Baht 116.69 million, a decrease of Baht 26.33 million or 18.41%, comparing
with Baht 143.02 million of the same period of 2017.

2.    The Consolidated Financial Statements
2.1  In the second quarter of 2018, the Company and its subsidiaries had a total
sales volume of 322.597 million  litres, an increase of 41.076 million litres,
or 14.59%, from the same period of 2017, due to the increase in sales volume
from  export and jet fuel sales. The total revenues were Baht 7,202.84 million,
an increase of Baht 1,551.92 million, or 27.46%, from the same period of 2017.
The significant causes of the increasing in the net sales revenue were an
increase in sales volume and product prices and the increase in the average
sales margin per litre.
The Company and its subsidiaries had profit before income tax of Baht 106.87 
million, an increase of Baht 44.81 million, or 72.20%, from the same period of
2017. The significant causes were the increased in gross profit due to the
increase in the sales volume and the decrease in the administrative expenses,
which was resulted from the payment of the year 2014-2015 subsidiary company tax
surcharge in the  second quarter of 2017 amount 18.64 million . The Company and
its subsidiaries net profit after income tax was Baht 86.04 million, an
increase of Baht 141.31 million , comparing with  net loss of  Baht 55.28
million of the same period of 2017, resulted from the 2014-2016  income tax
repayment of the subsidiary company in the second quarter of  2017 amount Baht
96.21 million.
2.2   For the six-month period ended June 30, 2018 the Company and its 
subsidiaries had a total sales volume of  637.568 million  litres, an increase
of 71.288 million litres, or 12.59%, from the same period of 2017. The total
revenues were Baht 13,926.83 million, an increase of Baht 2,316.11 million, or
19.95%, from the same period of 2017. The significant causes of the increasing
in the net sales revenue were the  increase in sales volume and product prices.
The Company and its subsidiaries had profit before income tax of Baht 220.40
million, an increase of Baht 86.68 million, or 64.83%, from the same period of
2017. The significant causes were the increased in gross profit from the
increase in the sales volume and the decrease in the administrative expenses,
which was resulted from the payment of the year 2014-2015 subsidiary company tax
 surcharge in the  second




quarter of 2017 amount 18.64 million. The Company and its subsidiaries net 
profit after income tax was Baht 177.75 million, an increase of Baht 169.67
million , comparing with Baht 8.08 million of the same period of 2017, resulted
from the 2014-2016  income tax repayment of the subsidiary company in the second
 quarter of  2017 amount Baht 96.21 million.

                                                                                






                                                                          
Please be informed accordingly.

                            Sincerely yours,

                               (Chairit    Simaroj)
                               Managing Director
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