Esso Thailand : Financial Statement Quarter 1/2021

ESSO (THAILAND) PUBLIC COMPANY LIMITED

INTERIM CONSOLIDATED AND SEPARATE FINANCIAL INFORMATION (UNAUDITED)

31 MARCH 2021

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 2021, 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". 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.

Pongthavee Ratanakoses

Certified Public Accountant (Thailand) No. 7795

Bangkok

7 May 2021

Esso (Thailand) Public Company Limited

Statement of Financial Position

As at 31 March 2021

(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	2021	2020		2021	2020
Assets
Current assets
Cash and cash equivalents			639,434	261,687		639,434	261,687
Trade receivables, net	6		6,925,910	5,083,153		6,925,910	5,083,153
Amounts due from related parties	12 f	-	36,486		89,886	99,982
Inventories, net			16,007,688	13,144,237		16,007,688	13,144,237
Other receivables, net			2,820,225	2,888,219		2,820,225	2,888,219
Other current assets			1,732,763	1,507,155		1,897,206	1,639,698
Total current assets			28,126,020		22,920,937		28,380,349		23,116,976
Non-current assets
Financial assets measured at fair value
through other comprehensive income	5		1,215,000	1,071,000		1,215,000	1,071,000
Investments in an associate			2,207,243	2,137,192		1,729,360	1,729,360
Investments in subsidiaries			-	-		114,589	114,589
Long-term loans to related parties	12 g	-	-		3,392,146	3,443,943
Property, plant and equipment, net	8		24,405,600	24,750,398		20,200,710	20,545,508
Right-of-use assets, net	8		4,283,803	4,287,336		4,332,979	4,342,922
Intangible assets, net	8		178,436	181,195		178,436	181,195
Deferred income tax assets, net			2,807,415	3,511,731		2,696,851	3,400,712
Prepaid rental and deferred charges			235,360	265,474		427,722	484,098
Other non-current assets			2,200,343	2,252,822		2,200,343	2,252,822
Total non-current assets			37,533,200		38,457,148		36,488,136		37,566,149
Total assets			65,659,220		61,378,085		64,868,485		60,683,125
Director …………………………………………………

The accompanying notes on pages 9 to 18 form part of this interim financial information.

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Esso (Thailand) Public Company Limited

Statement of Financial Position

As at 31 March 2021

(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	2021	2020		2021	2020
Liabilities and equity
Current liabilities
Bank overdrafts and short-term borrowings
from financial institutions	9		4,445,269	6,081,506		4,445,269	6,081,506
Trade and other payables			4,394,327	4,451,951		4,393,906	4,451,535
Amounts due to related parties	12 f	11,782,819	7,894,058		11,782,663	7,893,884
Current portion of long-term borrowings
from financial institutions	9		1,808,333	1,933,333		1,808,333	1,933,333
Current portion of long-term borrowings
from related parties	12 h	3,233,333	3,233,333		3,233,333	3,233,333
Short-term loans from related parties	12 h	11,046,010	10,621,104		11,046,886	10,621,980
Current income tax payables			495	617		-	-
Current portion of lease liabilities			404,724	357,665		430,428	383,717
Short-term provisions for employee benefits			873,018	872,389		873,018	872,389
Total current liabilities			37,988,328		35,445,956		38,013,836		35,471,677
Non-current liabilities
Long-term borrowings from
financial institutions	9		1,358,334	1,716,667		1,358,334	1,716,667
Long-term loans from related parties	12 h	3,808,333	4,616,667		3,813,794	4,617,968
Lease liabilities			2,442,707	2,439,856		2,447,173	2,469,911
Long-term provisions for employee benefits			2,791,604	2,799,408		2,791,604	2,799,408
Other non-current liabilities			5,005	5		5,005	5
Total non-current liabilities			10,405,983		11,572,603		10,415,910		11,603,959
Total liabilities			48,394,311		47,018,559		48,429,746		47,075,636

The accompanying notes on pages 9 to 18 form part of this interim financial information.

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Esso (Thailand) Public Company Limited

Statement of Financial Position

As at 31 March 2021

(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
	2021	2020		2021	2020
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 (deficits)
Appropriated
Legal reserve	1,000,901	1,000,901		1,000,901	1,000,901
Unappropriated	(5,292,577)	(8,080,990)		(6,118,558)	(8,832,838)
Other components of equity	442,259		325,289		449,504		332,534
Equity attributable to owners of the parent	17,257,475	14,352,092		16,438,739	13,607,489
Non-controlling interests	7,434	7,434		-	-
Total equity	17,264,909		14,359,526		16,438,739		13,607,489
Total liabilities and equity	65,659,220		61,378,085		64,868,485		60,683,125

The accompanying notes on pages 9 to 18 form part of this interim financial information.

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