Bangchak Petroleum (BCP TB) - OSK
Bangchak Petroleum (BCP TB) - OSK
Bangchak Petroleum (BCP TB) - OSK
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<strong>Bangchak</strong> <strong>Petroleum</strong> (<strong>BCP</strong> <strong>TB</strong>)<br />
2 August 2013<br />
Financial Exhibits<br />
Balance Sheet (THBm) Dec-10 Dec-11 Dec-12 Dec-13F Dec-14F<br />
Total cash and equivalents 9,118 4,031 8,019 5,109 7,323<br />
Inventories 15,608 16,658 19,175 19,175 16,876<br />
Accounts receivable 5,726 8,473 8,896 8,896 8,896<br />
Other current assets 1,632 2,133 1,018 1,018 2,813<br />
Total current assets 32,084 31,294 37,107 34,197 35,907<br />
Total investments 287 1,030 1,017 1,017 1,017<br />
Tangible fixed assets 24,883 28,286 31,574 41,800 42,658<br />
Total other assets 1,158 986 1,154 362 362<br />
Total non-current assets 26,328 30,302 33,746 43,179 44,037<br />
Total assets 58,412 61,597 70,853 77,376 79,944<br />
Short-term debt 2,702 2,551 1,010 1,010 1,010<br />
Accounts payable 10,420 10,327 16,469 16,469 16,469<br />
Other current liabilities 4,458 1,662 1,748 3,777 2,935<br />
Total current liabilities 17,580 14,540 19,227 21,256 20,414<br />
Total long-term debt 16,915 16,030 18,013 18,013 18,013<br />
Other liabilities 1,137 1,146 1,290 3,138 3,178<br />
Total non-current liabilities 18,052 17,176 19,303 21,151 21,191<br />
Total liabilities 35,632 31,717 38,530 42,408 41,605<br />
Share capital 1,177 1,377 1,377 1,377 1,377<br />
Retained earnings reserve 12,959 17,176 19,590 22,205 25,546<br />
Other reserves 8,481 11,176 11,176 11,176 11,176<br />
Shareholders' equity 22,616 29,729 32,143 34,758 38,099<br />
Minority interests 164 151 180 210 240<br />
Other equity (0) 0 - (0) 0<br />
Total equity 22,780 29,880 32,323 34,968 38,339<br />
Total liabilities & equity 58,412 61,597 70,853 77,376 79,944<br />
Source: Company data, RHB estimates<br />
Key Ratios (THB) Dec-10 Dec-11 Dec-12 Dec-13F Dec-14F<br />
Revenue growth (%) 25.5 16.3 4.2 68.1 1.3<br />
Operating profit growth (%) (34.9) 130.5 (54.8) 91.3 25.6<br />
Net profit growth (%) (62.8) 100.6 (23.8) 2.0 27.7<br />
EPS growth (%) (62.8) 100.6 (23.8) 2.0 27.7<br />
Bv per share growth (%) (12.6) 31.5 8.1 8.1 9.6<br />
Operating margin (%) 2.2 4.3 1.9 2.1 2.6<br />
Net profit margin (%) 2.1 3.5 2.6 1.6 2.0<br />
Return on average assets (%) 5.0 9.3 6.5 5.9 7.1<br />
Return on average equity (%) 11.5 21.4 13.8 13.0 15.3<br />
Net debt to equity (%) 46.1 48.7 34.0 39.8 30.5<br />
DPS 0.85 1.58 1.24 1.27 1.62<br />
Recurrent cash flow per share 4.60 1.43 6.73 6.50 5.66<br />
Source: Company data, RHB estimates<br />
See important disclosures at the end of this report 4
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