TASCO’s 2021 Earnings Fall 38% on Lower Sales, Offering THB0.80 Dividend Payment

Tipco Asphalt Public Company Limited (SET: TASCO) has announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;

Yearly 2021 2020
Net Profit (Loss)
Million Baht
2,219.71 3,591.82
Earning Per Share (Baht) 1.41 2.28
% Change -38.20

TASCO reported a net profit of 2,219 million baht in 2021, decreased 38% from a net profit of 3,591 million baht in 2020.

Sales and services stood at 24,447 million baht, reflecting a decrease of 6.53% from last year due to a decrease in sales volume in particular international markets which results from the “selective market sales” strategy and continuous impact from the Covid-19 pandemic in certain ASEAN countries. On the other hand, the selling price of all asphalt products increased resulting from the global oil price increase throughout the year.

In 2021, the company received 271 million baht of fire insurance claim payment from the insurers by its subsidiary for the 2018 incident.

In addition, the Board of Directors approved a dividend payment of  THB0.80 per share to be paid on 28 April 2022. The ex-dividend date is 2 march 2022.