News Detail

Date/Time
19 Feb 2020 17:02:00
Headline
Management Discussion and Analysis Yearly Ending 31 Dec 2019
Symbol
SUSCO
Source
SUSCO
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                Management Discussion and Analysis

Company name                             : SUSCO PUBLIC COMPANY LIMITED
Year                                     : 2019
Quarter                                  : Yearly
Ending                                   : 31-Dec-2019
Note                                     :
                                                   TRANSLATION

No. Sor Kor. Bor Chor Ngor. 016/2563                                            
                                          February 19, 2020

Subject :       Submission of the Audited Financial Statements for the year  
ended  December 31, 2019 together with  the clarification on the main causes of
the variation  in operating results, exceeding 20% from those of the same
periods of  the preceding year.

To :              The President
                     The Stock Exchange of Thailand

Enclosures : The  Audited Financial Statements for the year ended  December 31, 
2019 of  SUSCO  Plc. and  its subsidiaries and the Audit Report by the Certified
 Public Accountant.

Enclosed  are the Audited Financial Statements for the year ended  December 31, 
2019, and the  Audit Report by the Certified Public Accountant, with  the
clarification on the main causes of the variation  in operating  results,
exceeding 20%  from those of the same periods of the preceding year, which can
be summarized as follows :
  
1.    The Company's Financial Statements
In 2019, the Company had a sales volume of 858.752 million litres, an increase 
of 43.877 million  litres, or 5.38% from the same period of 2018, and a total
revenue of Baht 17,577.55 million, a decrease of Baht 705.61 million, or 3.86%,
from the same period of 2018. The significant cause of  the decrease in the net
sales revenue was the decrease in  average sale product prices  per litres,
whereas there was an  increase in  the other revenue from the increase in the
gain on sale of assets. The details of which are shown in the attached Separate
Comprehensive Income Statement.
The Company had a profit before income tax of Baht 460.41 million, an increase 
of Baht 68.41 million or 17.45% comparing with Baht 392.00 million of the same
periods of 2018. The significant causes were the increase in the gross profit
contributed from the increase in the sales volume and the increase in the
average sales margin per litre. The Company had net profit after income tax of
Baht 399.91 million, an increase of  Baht 48.29 million, or 13.73% , comparing
with Baht 351.62 million in the same period of 2018.

2    The Consolidated Financial Statements
In 2019, the Company and its subsidiaries had a total sales volume of 1,393.834 
million litres, an increase of 134.994 million  litres, or 10.72%, from the same
period of 2018. The total revenue was Baht 28,144.42 million, a decrease of
Baht 100.34 million, or 0.36%, from the same period of 2018. The significant
cause of  the decrease in the net sales revenue is resulted from the decrease in
average sale product prices per litres, whereas there was an  increase in other
revenue from the increase in  gain on sale of assets. The Company and its
subsidiaries had profit before income tax of Baht 489.57 million, which is
considered  as the Company and its subsidiaries' highest yearly operating
profit, an increase of Baht 140.55 million, or 40.27% from the same period of
2018. The significant cause  was the increase in the gross profit contributed
from the increase in the sales volume and the increase in the average sales
margin per litre. As a result, the Company and its subsidiaries had profit after
income tax of Baht 388.16 million, an increase of Baht 104.48 million, or
36.83%, when comparing with Baht 283.68 million in the same period of 2018.

                                                                                







                                       
Please be informed accordingly.
                            Sincerely yours,

                                 (Chairit    Simaroj)
                                 Managing Director
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