Bangkok, IRPC is confident that this year's operating results will be positive despite fluctuating oil prices. Set a strategic target to strengthen the core business (Core uplift) to create EBITDA of approximately 5 billion baht per year, strengthening it, confident that the government's EV policy will cause the use of petrochemicals in the country to surge. Mr. Krit Imsaeng, Chief Executive Officer and President of IRPC Public Company Limited or IRPC, revealed that this year's earnings trend is believed to return to positive. There are factors from the recovery of the global petrochemical business. Even though the price of crude oil in the world market fluctuates This is the latest case of Mr. Ibrahim Raisi, President of Iran. Deaths from a helicopter crash also encouraged investors to buy gold as a safe-haven asset. It is also expected to have an effect on oil prices. Meanwhile, from the hope that the Federal Reserve (Fed) will cut interest rates this year. good US economy Geopolitical conflicts also affe ct oil prices. 'As the Euro 5 project has been completed since the end of 2023, sales within the country have increased. By adjusting the sales formula based on Singapore low sulfur oil, the margin increased by 2 USD per barrel. As China's economy improves, demand for specialty plastic resins increases. Especially for ABS products, the spread has clearly grown 2 times to 700 USD per ton. Therefore, the company is preparing to resume operation of the ABS production plant at full production capacity of 180,000 tons per year from the end of May, compared to the end of 2023 at only 40%,' Mr. Krit said. As for the operating performance trend for the 2nd quarter of 2024, it is expected that it will not be able to compete with the 1st quarter of 2024 because it is expected that the refining margin will weaken. But it is believed that it will start to improve from the end of the second quarter onwards and help improve the operating results of the third quarter of this year. The main positive factors are improved re fining margins from oil demand during the US driving season, as well as significantly improved ABS spreads, and we expect 2025 to be an even better year. From many Specialty products projects completed according to plan. Meanwhile, by promoting the production of EV car manufacturers in the country, the demand for this type of plastic will increase, which will be beneficial to IRPC. For the 5-year strategic implementation plan (2024 - 2028), the company has a strategy to strengthen the core business (Core uplift), which is expected to result in an impact on EBITDA of approximately 5 billion baht per year. This is additional money from the expected EBITDA profit of approximately 13 billion baht/year. Therefore, if any fluctuations occur, profits from Core uplift will come to help this part. It consists of 1. Petroleum Business: The Company can produce and sell clean, low sulfur diesel oil according to Euro 5 standards from the end of 2023 with a production capacity of approximately 93,500 barrels per day. Acc ording to the "Domestic first" strategic plan that aims to expand the proportion of domestic oil sales through a network of oil depots throughout the country. Including expanding cooperation with domestic oil traders, generating EBITDA of approximately 1-2 billion baht per year, for the petrochemical business The company increases the proportion of sales of Specialty products to 38% by 2024 and 50% in 2025 with the "Specialty boost" strategy to enhance competitiveness. Using technological advancements and years of experience. There were successes in the first quarter of this year, such as the pipe and infrastructure business: POLIMAXX HDPE 100 RC plastic pellets are used to produce pipes resistant to pressure and high impact according to EN1555-2021 standards, with a service life of up to 50 years. Currently company Export POLIMAXX PE100 RC plastic pellets to many regions such as Southeast Asia. Africa and India, etc., are expected to generate EBITDA of approximately 800-1,500 million baht per year. Manageme nt of existing assets such as land, ports, treasury business is expected to generate EBITDA of approximately 100-200 million baht/year. At the same time, it is still moving forward with the SOS program. Many projects are expected to create EBITDA around 1,500-1,800 million baht/year For Specialty products that are gradually opening, others include the health and hygiene product business: POLIMAXX PP Spunbond and PP Meltblown plastic pellets for health and hygiene products such as masks. N95 gowns, PPE sets, diapers for children and adults Including various filters that are highly safe because they do not contain phthalates (Phthalate free), including the automotive business. and electronics: Acetylene Black (ACB) (Acetylene Black) with electrical conductivity properties Reduce static electricity Helps in transferring heat. low moisture absorption High purity Can be used in a variety of applications, such as car batteries. electronic equipment and Energy Storage System (ESS), etc. In addition, in the paint a nd coating business Paint and Coating Business: The Company joins with Beyer Company Limited to develop world-class paint and coating products for the first time in the country with Polytetrafluoroethylene (PTFE) ingredients that have special properties to withstand harsh weather conditions, helping to extend their lifespan. Three times the steel structure work For use in coating steel structures in oil refineries, petrochemical factories, airports. Piers and bridges, etc. For advancement in the investment strategy to seek new business opportunities (Step up and Beyond), the company has invested in Visup Company Limited (VISUP), which is an incubator / accelerator to drive innovation and technology at the Vidyasirimedhi Institute of Technology (VISTEC). in the proportion of 22%, with interest in the Digital Temperature Indicator (DTI) technology group that is jointly researched and developed. Including expanding on the company's conductive ink by applying it for smart packaging. Can track products Check prod uct condition and provide information to consumers 'The company is committed to conducting business policy with caution. Increase management efficiency Reduce production costs Energy costs from various uncertainties. The company is ready to invest in businesses with high growth. and aiming towards the Net Zero goal in 2060,' Mr. Krit said. Source: Thai News Agency