UAC Global Public Company Limited (“UAC”) has announced its financial results for the first six months of 2023, achieving revenues of 974.61 million baht, a 26.68% increase (YoY). The company's net profit attributable to shareholders reached 180.77 million baht, up 101.17% (YoY), with EBITDA at 276.27 million baht, driven by growth in the Trading and Manufacturing-Energy & Petroleum sectors. Additionally, the company booked over 128.96 million baht in other special profits. CEO “Chatchapol Prasopchok” is accelerating investments in clean energy and renewable energy, recently establishing a subsidiary to produce and sell RDF3 in Indonesia, supporting this year's revenue growth in line with the planned targets and aiming for EBITDA growth of over 20%.

UAC Global Public Company Limited (“UAC” reported to the Stock Exchange of Thailand its performance for the first half of 2023, with sales and service revenues of 797.89 million baht, an increase of 151.90 million baht or 23.51% (YoY), and a net profit attributable to shareholders of 180.77 million baht, up 90.91 million baht or 101.17% (YoY). EBITDA stood at 276.27 million baht, a 68.59% increase.

In the second quarter of 2023, the company reported sales and service revenues of 381.84 million baht, an increase of 139.60 million baht or 57.63% (YoY), with a net profit attributable to shareholders of 92.12 million baht, up 74.13 million baht or 412.27% (YoY), and EBITDA of 136.49 million baht, a 146.44% increase.

The outstanding growth in the first half of the year was attributed to increased revenue recognition in the Trading and Manufacturing – Energy & Petroleum sectors, along with profits from the sale of investments in subsidiaries, gains from investment status changes, and asset sales (warehouse) totaling over 128.96 million baht. The company also received dividends from joint ventures amounting to 57.33 million baht and profit shares from investments in BBGI Biodiesel of 34.91 million baht, reflecting significant operational growth.

Mr. Chatchapol Prasopchok, CEO and Managing Director of “UAC” stated that the company has developed strategies to maintain financial liquidity and reduce risks from exchange rate fluctuations to mitigate impacts from global economic slowdowns, inflation, and rising interest rates. As a result of these strategies, the company had cash of 141.96 million baht as of June 30, 2023, with a debt-to-equity ratio (D/E) of 0.80, remaining within the company's financial policy framework of not exceeding 2 times.

The company continues to advance and develop ongoing projects, preparing plans to procure machinery and equipment to increase petroleum production in the eastern region (L11/43) and the Arunothai field (L10/43) to reach 250 bbl/day within the third and fourth quarters of 2023. Additionally, there are projects set to commence operations in the latter half of this year, including (1) an RDF3 production plant in Laos, operated by Vientiane Management Co., Ltd. (VWM), which has completed commissioning from May 30 to June 1, 2023, and has begun selling RDF3 to the Kam Muan cement plant since late July; (2) the Phu Phaman Power Plant (PPM), which will begin commercial operations (COD) with Generator #1 at a capacity of 1.5 MW within the third quarter of 2023, followed by Generator #2 at a capacity of 1.5 MW in the fourth quarter of 2023, totaling 3 MW; and (3) the EV Charging Station business, which is currently preparing for commercial operations in Chanthaburi province after having already launched three stations in Nakhon Ratchasima province and the Eastern Economic Corridor Innovation Zone (EECi) in Rayong.

Furthermore, the company continues to expand investments in clean energy and renewable energy beyond existing projects. UAC Energy Co., Ltd., a subsidiary, has invested in PT Cahaya Yasa Cipta with a 70% stake to support the production and sale of RDF3 in Indonesia, with an estimated production capacity of 40,000 tons per year for sale to nearby cement plants, expected to begin construction within the third quarter of 2023.

With these strategies, the company aims to achieve a revenue growth target of 15% this year while maintaining a growth rate of EBITDA exceeding 20% of total sales revenue.