IRPC Public Company Limited (SET: IRPC) has announced its 2022 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 2022 | 2021 |
| Net Profit (Loss) Million Baht |
-4,363.62 | 14,504.62 |
| Earning Per Share (Baht) |
-0.210 | 0.710 |
IRPC reported a net loss of Baht 4,363 million in 2022, a contrast to a net profit of Baht 14,504 million in 2021.
In 2022, the company registered net sales of Baht 318,396 million, increased by 35% from that in 2021. This attributed to a 43% increase in average selling prices following higher crude oil price while an 8% decrease in sales volume. The average crude intake was 175,000 barrels per day, down by 9% because of the planned major turnaround taking place approximately 1 month in 4Q22.
However, the company stated that the Market Gross Integrated Margin (Market GIM) was Baht 23,761 million (USD 10.57 per barrel) declining by 20% following a drop in petrochemical products spreads as well as an increase in crude premium versus a significant rise in petroleum products spreads especially Diesel and Gasoline spreads.
IRPC recorded net inventory loss of Baht 6,348 million including the stock gain of Baht 4,384 million versus Net Realizable Value (NRV) of Baht 2,347 million and realized loss on oil hedging of Baht 8,385 million compared to the net inventory gain of Baht 11,104 million or USD 4.92 per barrel.
