Star Petroleum Refining Public Company Limited (SET: SPRC) today announced a positive financial result for the 4th quarter of 2025, reporting a total revenue of US$1,778.5 million and a net profit of US$33.5 million. The results were mainly driven by strong enterprise margins, despite an inventory loss resulting from a decline in crude oil price during the quarter.
SPRC’s enterprise margin, excluding inventory gain (loss), in Q4/2025 was US$10.43/barrel, improving significantly from the previous quarter of US$ 6.85/barrel, supported by firmer middle-distillate cracks. In addition, strong commercial margins together with SPRC’s initiatives to maximize domestic sales, optimize crude and product mix as well as operational cost efficiency delivered enterprise value capture of US$13.6 million.
For 2025, SPRC reported total revenue of US$7,317.8 million and net profit of US$78.8 million representing a 31.6% year on year improvement driven by stronger refinery margins and improved commercial margins from channel optimization across all segments. Enterprise value capture for 2025 reached US$54.0 million, reflecting SPRC’s continued focus on feedstock and product optimization to maximize operational efficiency and value creation.
Mr. Herbert Matthew Payne II, SPRC’s CEO and Director, said “Through our integrated businesses, we have built a strong foundation for enterprise value capture. Meanwhile, SPRC has also unveiled its new corporate vision “To be the leading energy provider empowering growth for a sustainable future” with a strong emphasis on our mission to power a better tomorrow by delivering safe, efficient, and reliable energy with a deep commitment to our people, communities, and supporting long-term sustainable growth.”
“To bring this new vision to life, our strategy focuses on maintaining the financial strength to optimize our shareholders’ return, making timely strategic investment across our refining and fuel marketing value chain, and enhancing cash generation through profitable growth of our marketing business. This strategic pivot is designed to advance future single enterprise integration, strengthen competitiveness, operational efficiency, and flexibility,” concluded Mr. Matthew Payne.
On the same day, SPRC’s Board of Directors’ Meeting No.1/2026 approved the proposal of the annual dividend payment from the 2025 net profit for approval at the 2026 Annual General Shareholders’ Meeting on April 10, 2026. The proposed annual dividend amounts to THB 0.45 per share.
After deducting the interim dividend payment of THB 0.15 per share, the remaining dividend to be distributed is THB 0.30 per share. The record date for determining shareholders entitled to receive the dividend is March 6, 2026, and the dividend payment is scheduled for May 8, 2026, subject to approval by the 2026 AGM.
