Esso Thailand : Financial Statement Quarter 2/2023

ESSO (THAILAND) PUBLIC COMPANY LIMITED

INTERIM CONSOLIDATED AND SEPARATE FINANCIAL INFORMATION (UNAUDITED)

30 JUNE 2023

AUDITOR'S REPORT ON THE REVIEW OF THE INTERIM FINANCIAL INFORMATION

To the Shareholders and the Board of Directors of Esso (Thailand) Public Company Limited

I have reviewed the interim consolidated financial information of Esso (Thailand) Public Company Limited and its subsidiaries, and the interim separate financial information of Esso (Thailand) Public Company Limited. These comprise the consolidated and separate statements of financial position as at 30 June 2023, the consolidated and separate statements of comprehensive income for the three-month and six-month periods then ended, the related consolidated and separate statements of changes in equity, and cash flows for the six-month period then ended, and the condensed notes to the interim financial information. Management is responsible for the preparation and presentation of this interim consolidated and separate financial information in accordance with Thai Accounting Standard 34, "Interim Financial Reporting". My responsibility is to express a conclusion on this interim consolidated and separate financial information based on my review.

Scope of review

I conducted my review in accordance with the Thai Standard on Review Engagements 2410, "Review of interim financial information performed by the independent auditor of the entity". A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Thai Standards on Auditing and consequently does not enable me to obtain assurance that I would become aware of all significant matters that might be identified in an audit. Accordingly, I do not express an audit opinion.

Conclusion

Based on my review, nothing has come to my attention that causes me to believe that the accompanying interim consolidated and separate financial information is not prepared, in all material respects, in accordance with Thai Accounting Standard 34, "Interim Financial Reporting".

PricewaterhouseCoopers ABAS Ltd.

Amornrat Pearmpoonvatanasuk

Certified Public Accountant (Thailand) No. 4599

Bangkok

4 August 2023

Esso (Thailand) Public Company Limited

Statement of Financial Position

As at 30 June 2023

(All amounts in Baht thousand unless otherwise stated)

		Consolidated	Separate
		financial information	financial information
		Unaudited	Audited	Unaudited	Audited
		30 June	31 December	30 June	31 December
	Notes	2023	2022	2023	2022
Assets
Current assets
Cash and cash equivalents		567,444	586,070	566,642	586,070
Trade receivables	6	6,318,729	8,429,771	6,318,729	8,429,771
Amounts due from related parties	13 g	4,240	15	64,654	52,520
Inventories		24,140,026	23,893,410	24,140,026	23,893,410
Other receivables	7	2,944,719	15,873,001	2,944,719	15,873,001
Group of assets classified as held-for-sale	14	1,924,476	-	1,924,476	-
Other current assets		1,577,592	3,140,197	1,660,718	3,224,263
Total current assets		37,477,226	51,922,464	37,619,964	52,059,035
Non-current assets
Financial assets measured at fair value
through other comprehensive income	5	1,473,750	1,093,981	1,473,750	1,093,981
Investments in an associate		2,088,217	2,197,477	1,729,360	1,729,360
Investments in subsidiaries		-	-	114,593	114,593
Long-term loans to related parties	13 h	-	-	3,681,926	3,687,725
Property, plant and equipment	9	22,553,477	22,982,043	18,368,694	18,797,260
Right-of-use assets	9	3,621,087	3,823,186	3,676,288	3,827,492
Intangible assets	9	78,804	125,961	78,804	125,961
Deferred income tax assets		875,015	673,093	763,870	564,601
Prepaid rental and deferred charges		322,949	89,957	322,949	89,957
Other non-current assets		3,854,274	2,633,279	3,854,317	2,633,239
Total non-current assets		34,867,573	33,618,977	34,064,551	32,664,169
Total assets		72,344,799	85,541,441	71,684,515	84,723,204

Director …………………………………………………

The accompanying notes form part of this interim financial information.

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Esso (Thailand) Public Company Limited

Statement of Financial Position

As at 30 June 2023

(All amounts in Baht thousand unless otherwise stated)

		Consolidated	Separate
		financial information	financial information
		Unaudited	Audited	Unaudited	Audited
		30 June	31 December	30 June	31 December
	Notes	2023	2022	2023	2022
Liabilities and equity
Current liabilities
Bank overdrafts and short-term borrowings
from financial institutions	10	4,329,862	9,739,338	4,329,862	9,739,338
Trade and other payables		4,244,012	5,872,021	4,243,899	5,871,504
Amounts due to related parties	13 g	12,362,894	10,691,998	12,362,645	10,694,002
Current portion of long-term borrowings
from financial institutions	10	1,165,867	1,667,067	1,165,867	1,667,067
Current portion of long-term loans
from related parties	13 i	3,833,334	3,666,667	3,833,334	3,666,667
Short-term loans from related parties	13 i	13,973,724	16,696,199	13,973,724	16,697,027
Current income tax payables		72	269	-	-
Current portion of lease liabilities		302,822	319,210	324,070	323,744
Short-term provisions for employee benefits		891,608	971,593	891,608	971,593
Liabilities included with group of assets
classified as held-for-sale	14	56,300	-	56,300	-
Total current liabilities		41,160,495	49,624,362	41,181,309	49,630,942
Non-current liabilities
Long-term borrowings from
financial institutions	10	833,333	1,415,667	833,333	1,415,667
Long-term loans from related parties	13 i	-	2,750,000	1,371	2,751,034
Lease liabilities		2,025,876	2,117,860	2,047,122	2,117,860
Long-term provisions for employee benefits		2,654,722	2,429,416	2,654,722	2,429,416
Other non-current liabilities		47	68	5	26
Total non-current liabilities		5,513,978	8,713,011	5,536,553	8,714,003
Total liabilities		46,674,473	58,337,373	46,717,862	58,344,945

The accompanying notes form part of this interim financial information.

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Esso (Thailand) Public Company Limited

Statement of Financial Position

As at 30 June 2023

(All amounts in Baht thousand unless otherwise stated)

	Consolidated	Separate
	financial information	financial information
	Unaudited	Audited	Unaudited	Audited
	30 June	31 December	30 June	31 December
	2023	2022	2023	2022
Liabilities and equity (continued)
Equity
Share capital
Authorised share capital
3,467,916,666 ordinary shares
with par value of Baht 4.9338 each	17,110,007	17,110,007	17,110,007	17,110,007
Issued and paid-up share capital
3,460,858,000 ordinary shares
with paid-up value of Baht 4.9338 each	17,075,181	17,075,181	17,075,181	17,075,181
Share premium	4,031,711	4,031,711	4,031,711	4,031,711
Retained earnings
Appropriated
Legal reserve	1,253,410	1,253,410	1,253,410	1,253,410
Unappropriated	2,668,954	4,145,455	1,970,751	3,325,116
Other components of equity	633,636	690,877	635,600	692,841
Equity attributable to owners of the parent	25,662,892	27,196,634	24,966,653	26,378,259
Non-controlling interests	7,434	7,434	-	-
Total equity	25,670,326	27,204,068	24,966,653	26,378,259
Total liabilities and equity	72,344,799	85,541,441	71,684,515	84,723,204

The accompanying notes form part of this interim financial information.

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