BAFS shows its form in 67, first profit in 5 years, announces dividend payment at 0.30 baht/share

BAFS shows its form in 67, first profit in 5 years, announces dividend payment at 0.30 baht/share, reveals plan for 68 to expand into Asian market, sets investment budget of over 1,000 million baht to strengthen business

February 21, 2568 M.L. Natthasit Diskul, President Bangkok Aviation Fuel Services Public Company Limited revealed that

In 2567, BAFS and BAFS Group's performance continued to have strong and outstanding business growth rates, maintaining consistent performance growth, resulting in BAFS turning around to have a net profit for the first year since the outbreak of COVID-19 in 2562 at 102.9 million baht, an increase of 175% compared to the previous year.

The main supporting factors were the volume of aviation fuel refueling, which was as high as 5,047 million liters, higher than expected, and the volume of oil transported through the northern pipeline, which increased dramatically to 1,226 million liters, resulting in total revenue of 3,507 million baht, an increase of 14% compared to the previous year. Following the recovery of the tourism business, while EBITDA continued to grow by 21% from the previous year to 1,594.3 million baht.

For the operating results in Q4/2567, BAFS Group had total revenue of 955.4 million baht, an increase of 19% from the same period last year, with EBITDA of 343.9 million baht from gross profit increasing in line with the volume of aviation fuel refueling.

While operating expenses increased by 1% and net financial costs decreased by 9% from the gradual repayment of loans to financial institutions and from the reduction of lending interest rates by commercial banks.

In addition, in the last quarter of this year, BAFS Group recognized a loss from the fair value adjustment of its investment in a power plant in Japan and a loss from the goodwill of a power plant in Thailand.

Including the disposal of future unused income tax benefits (DTA), which is considered an accounting expense only and does not affect cash flow in any way, resulting in a net loss attributable to shareholders of the Company in Q4/2567 of 49.8 million baht.

From the operating results in 2567, the Board of Directors considered approving the payment of dividends from net profit for the operating results in 2567 to shareholders at the rate of 0.30 baht per share, consisting of the payment of dividends for the operating results for the first 6 months of 2567 in the amount of 0.10 baht per share, which was paid on September 3, 2567.

And the dividend for the last 6 months of 2567 in the amount of 0.20 baht per share is scheduled to be paid on 22 May 2568. The Company plans to pay such dividend upon approval from the 2568 Annual General Meeting of Shareholders.

BAFS Group is ready to continue its plan in 2568 for sustainable growth, targeting 8% revenue growth, investing over 1,000 million baht, joining hands with partners to expand business opportunities, and moving forward to develop the country's energy transportation infrastructure with the Northern Oil Pipeline Connection Project, Phase 3 (Ang Thong - Saraburi) by BAFS Pipeline Transportation Co., Ltd., ready to start construction in the first quarter of 1, aiming to open for commercial service within 2568.

When completed, the oil pipeline system will have a total length of 726 kilometers, making it the longest and most modern oil pipeline system in Thailand and the longest in ASEAN.

Amidst the challenges of energy transition, BAFS Group continues to focus on creating sustainable value, along with building energy security, and drives the organization in 2568 with the following 5 main 2568-year strategic plans (2572-3):

First strategy Expanding investment into the Asian region Solid Financials for Uplifting Asia With the potential of the group of companies ready to look for investment opportunities and see growth channels in the Asian market, there are 2 important forces: BAFS Intech Co., Ltd., which is accelerating the expansion of the aviation refueling vehicle market in the Southeast Asian region, and BAFS Clean Energy Corporation, which is in the process of investing in Mongolia.

Strategy 2 Sustainability and Governance for a Thriving Future focuses on driving society and the aviation industry into the sustainable energy era, with the main mission of preparing to support the use of sustainable aviation fuel (SAF). Last year, BAFS began providing SAF refueling services to airline customers at Samui International Airport and Suvarnabhumi Airport. Most recently, BAFS has received ISCC-CORSIA certification in the scope of its Logistic Center, including the Don Mueang Aircraft Fuel Storage and Refueling Station and the Suvarnabhumi Aircraft Fuel Storage and Refueling Station.

Strategy 3 Re-imagining the Future of Work for Human Empowerment: Develop people to support the future world by enhancing knowledge and skills in Generative AI, allowing employees to develop technological skills to keep up with changes in the current world, and exploring and preparing the IT infrastructure so that employees can access generative AI conveniently and securely to enhance the organization's work efficiency.

“Over the past 41 years, BAFS and its subsidiaries have focused on balanced growth, creating value for society and the environment, and conducting proactive business, seeking investment opportunities to strengthen financial strength, accelerating the development of personnel and new innovations, driving the organization with strategic vision and effective management, and being able to create stable growth in performance with the vision of fulfilling the future without limits – Reimagining Asia's Sustainable Future, Uplifting the World of Infinite Opportunities.”

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