Esso Thailand : Financial Statement Quarter 1/2023

ESSO (THAILAND) PUBLIC COMPANY LIMITED

INTERIM CONSOLIDATED AND SEPARATE FINANCIAL INFORMATION (UNAUDITED)

31 MARCH 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 31 March 2023, the related consolidated and separate statements of comprehensive income, changes in equity, and cash flows for the three-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". related 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

5 May 2023

Esso (Thailand) Public Company Limited

Statement of Financial Position

As at 31 March 2023

(All amounts in Baht thousand unless otherwise stated)

			Consolidated	Separate
			financial information	financial information
			Unaudited		Audited	Unaudited		Audited
			31 March		31 December	31 March		31 December
	Notes	2023	2022		2023	2022
Assets
Current assets
Cash and cash equivalents			756,071	586,070		756,071	586,070
Trade receivables	6		9,152,198	8,429,771		9,152,198	8,429,771
Amounts due from related parties	12 f	10	15		108,603	52,520
Inventories			26,356,661	23,893,410		26,356,661	23,893,410
Other receivables			8,974,141	15,873,001		8,974,141	15,873,001
Other current assets			3,232,517	3,140,197		3,363,094	3,224,263
Total current assets			48,471,598		51,922,464		48,710,768		52,059,035
Non-current assets
Financial assets measured at fair value
through other comprehensive income	5		1,409,973	1,093,981		1,409,973	1,093,981
Investments in an associate			2,297,879	2,197,477		1,729,360	1,729,360
Investments in subsidiaries			-	-		114,593	114,593
Long-term loans to related parties	12 g	-	-		3,571,266	3,687,725
Property, plant and equipment	8		22,750,146	22,982,043		18,565,363	18,797,260
Right-of-use assets	8		3,743,604	3,823,186		3,805,229	3,827,492
Intangible assets	8		122,466	125,961		122,466	125,961
Deferred income tax assets			649,398	673,093		539,884	564,601
Prepaid rental and deferred charges			78,447	89,957		78,447	89,957
Other non-current assets			2,637,461	2,633,279		2,637,503	2,633,239
Total non-current assets			33,689,374		33,618,977		32,574,084		32,664,169
Total assets			82,160,972		85,541,441		81,284,852		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 31 March 2023

(All amounts in Baht thousand unless otherwise stated)

			Consolidated	Separate
				0			0
			Unaudited		Audited	Unaudited		Audited
			31 March		31 December	31 March		31 December
	Notes	2023	2022		2023	2022
Liabilities and equity
Current liabilities
Bank overdrafts and short-term borrowings
from financial institutions	9		3,729,835	9,739,338		3,729,835	9,739,338
Trade and other payables			4,737,907	5,872,021		4,737,161	5,871,504
Amounts due to related parties	12 f	18,070,922	10,691,998		18,070,791	10,694,002
Current portion of long-term borrowings
from financial institutions	9		1,500,400	1,667,067		1,500,400	1,667,067
Current portion of long-term loans
from related parties	12 h	3,166,667	3,666,667		3,166,667	3,666,667
Short-term loans from related parties	12 h	13,695,323	16,696,199		13,696,150	16,697,027
Current income tax payables			212,962	269		212,767	-
Current portion of lease liabilities			313,453	319,210		334,565	323,744
Short-term provisions for employee benefits			919,680	971,593		919,680	971,593
Total current liabilities			46,347,149		49,624,362		46,368,016		49,630,942
Non-current liabilities
Long-term borrowings from
financial institutions	9		1,123,900	1,415,667		1,123,900	1,415,667
Long-term loans from related parties	12 h	2,208,333	2,750,000		2,213,548	2,751,034
Lease liabilities			2,087,570	2,117,860		2,108,817	2,117,860
Long-term provisions for employee benefits			2,373,051	2,429,416		2,373,051	2,429,416
Other non-current liabilities			47	68		5	26
Total non-current liabilities			7,792,901		8,713,011		7,819,321		8,714,003
Total liabilities			54,140,050		58,337,373		54,187,337		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 31 March 2023

(All amounts in Baht thousand unless otherwise stated)

	Consolidated	Separate
	financial information	financial information
	Unaudited		Audited	Unaudited		Audited
	31 March		31 December	31 March		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	5,001,313	4,145,455		4,083,376	3,325,116
Other components of equity	651,873	690,877		653,837	692,841
Equity attributable to owners of the parent	28,013,488		27,196,634		27,097,515		26,378,259
Non-controlling interests	7,434	7,434		-	-
Total equity	28,020,922		27,204,068		27,097,515		26,378,259
Total liabilities and equity	82,160,972		85,541,441		81,284,852		84,723,204

The accompanying notes form part of this interim financial information.

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