Esso (Thailand) Public Company Limited Announces First Quarter 2008 Results

15 May 2008

Esso (Thailand) Public Company Limited announced its first quarter 2008 results. It reported a net profit of Baht 1,131 million compared to a net profit of Baht 2,036 million in the first quarter of 2007.

The lower net profit reflected lower refining and paraxylene margins, partially offset by lower interest expense. The first quarter 2008 downstream and petrochemicals profits from sales decreased by Baht 821 million and Baht 782 million respectively, compared to the first quarter of 2007. However, the first quarter 2008 interest expense improved by Baht 951 million compared to the first quarter of 2007 as a result of the company’s capital restructuring activities.

As of 31 March 2008, Esso (Thailand) Public Company Limited had total assets of Baht 74,426 million, total liabilities of Baht 48,921 million and shareholder’s equity of Baht 25,505 million.

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