Star Petroleum Refining Public Company Limited (SET: SPRC) has reported its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
4,746.46 | -6,004.84 |
| Earning Per Share (Baht) | 1.09 | -1.38 |
SPRC reported a net profit of 4,746 million baht, improved from a net loss of 6,004 million baht in 2020.
Compared 2021 with 2020, despite the lower sales volume affected by lower domestic demand from covid-19 pandemic and lockdown measures, sales revenue increased 29% due to higher oil prices. A significant stock gain due to oil prices rose led to positive EBITDAand earnings in 2021 compared to a significant loss in 2020 as a result of falling oil price. NIAT in 2021 was US$150 million, whilst it was a net loss of US$187 million in 2020. Excluding stock gain or loss, 2021 market gross refining margin improved to US$3.66/bbl, compared to US$2.79/bbl in 2020 due to the improved crack spreads, mainly in diesel and gasoline, partially offset with higher of crude premium, as the easing of restrictions had supported demand in many countries.
Comparing 2021 to 2020, Thai Baht value against US$ in 2021 continued to decline due to the economic downturn and resulted in to exchange loss of US$2.5 million compared to exchange gain of US$14.4 million in the same period of prior year when Baht appreciated in value.
In addition, the Board of Directors approved a dividend payment of THB0.1785 per share to be paid on 6 May 2022. The ex-dividend date is 7 March 2022.
