News Detail

Date/Time
12 May 2020 17:25:00
Headline
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2020
Symbol
SUSCO
Source
SUSCO
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                Management Discussion and Analysis

Company name                             : SUSCO PUBLIC COMPANY LIMITED
Year                                     : 2020
Quarter                                  : Quarter 1
Ending                                   : 31-Mar-2020
Note                                     :

                                              TRANSLATION

No. Sor Kor. Bor Chor Ngor. 153/2563                                            
                                                    May 12, 2020

Subject :       Submission of the Reviewed Interim Financial Statements for the 
three - month period ended  March 31, 2020 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 
period ended March 31, 2020 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 
period ended  March 31, 2020, 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
In the first quarter of 2020, the Company had a sales volume of 206.029 million 
litres, a decrease of 14.735 million  litres, or 6.67% from the same period of
2019, and the total revenue of Baht 3,776.81 million, a decrease of Baht 612.99
million, or 13.96%, from the same period of 2019. The significant causes of the
decrease in the net sales revenue were the decrease in  sales volume and
average  product selling  prices  per litres, and the decrease in the other
revenue from the decrease in the gain on sale of assets, the details of which
are shown in the Separate Comprehensive Income Statement attached herewith.
In the first quarter of 2020, the Company had a loss before income tax of Baht 
15.26 million, a decrease of Baht 167.23 million, comparing  with  a  Baht
151.97 million  profit of the same period of 2019. The significant cause of the
decrease in  the gross profit were the decrease in the sales volume, caused by
the Covid-19 outbreak  situation, and the loss from the declining in inventory
value, caused by a rapidly and heavily dropped  in selling price from the oil
price war. The Company net loss after income tax was Baht 13.11 million, a
decrease of Baht 134.09 million , comparing with a profit of Baht 120.99 million
 of the same period of 2019.




2    The Consolidated Financial Statements
In the first quarter of 2020, the Company and its subsidiaries had a total sales
volume of 331.775 million litres, a decrease of 13.693 million litres, or
3.96%, from the same period of 2019. The total revenue was Baht 6,105.34
million, a decrease of Baht 826.13 million, or 11.92%, from the same period of
2019. The significant causes of the decrease in the net sales revenues  were
resulted from the  decrease in sales volume and average product selling  prices
per  litres,  and the decrease in the other revenue from the decrease in the
gain on sale of assets. The Company and its subsidiaries had a loss before
income tax of Baht 25.80 million, a decrease of Baht 231.65 million, comparing
with  a Baht 205.85 million profit of the same period of 2019. The significant
causes of the decrease in  the gross profit were the decrease in the sales
volume, and the average sales margin per litre, caused by  the Covid-19 outbreak
situation, and the loss from the declining in inventory value, caused by a
rapidly and heavily dropped  in selling price from the oil price war.  The
Company and its subsidiaries had a loss after income tax of Baht 24.26 million,
a decrease of Baht 188.29 million , comparing with a net profit of Baht 164.03
million of the same period of 2019.

                                                                                







                                                                           
Please be informed accordingly.

                        
                                                             Sincerely yours,



                                     (Chairit    Simaroj)
                                     Managing Director
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