2 days ago
IRPC Strengthens Domestic Focus Amid Global Headwinds
Bangkok, August 8, 2025 — IRPC Public Company Limited, led by President and CEO Terdkiat Prommool, has reaffirmed its commitment to operational excellence and product innovation amid persistent global economic uncertainty—driven by escalating US trade protectionist measures and rising tensions along the Thai–Cambodian border.
To mitigate external risks, IRPC is restructuring its export portfolio and expanding into neighbouring markets to cushion the impact of tariffs and trade restrictions. At the same time, the company is advancing a 'Domestic First' strategy—emphasising cost optimisation, strengthening partnerships across the supply chain, and reinforcing business resilience.
Strategic Focus Areas:
Petroleum Business: IRPC is ramping up diesel production that meets Euro 5 standards via its Ultra Clean Fuel (UCF) unit to cater to the rising demand for cleaner energy.
Petrochemical Business: The company is accelerating the development of high-value products, including phthalate-free polypropylene under the POLIMAXX brand, targeting applications in food packaging, medical devices, and hygiene textiles. It has also developed ultra-high molecular weight polyethylene (UHMWPE) to meet demand in the automotive sector.
Asset Utilisation: IRPC continues to optimise the use of strategic assets, including land and deep-sea ports, to generate stable long-term returns.
Financial Performance – Q2/2025 vs. Q1/2025:
Revenue: THB 56.8 billion, down 9% QoQ, due to a 10% decline in average selling prices despite a 1% increase in sales volume.
Gross Profit (Market GIM): THB 5.2 billion (USD 8.41/bbl), up 34% QoQ, supported by improved margins amid seasonal demand and geopolitical tensions.
Accounting GIM: THB 3.2 billion (USD 5.16/bbl), down 29% QoQ, due to a net inventory loss of THB 2.0 billion stemming from lower Dubai crude prices.
EBITDA: THB 223 million, down 86% QoQ.
Net Loss: THB 2.1 billion, rising 77% from Q1, attributed to unrealised hedging losses and higher finance costs.
Market Outlook – Q3/2025:
IRPC anticipates that seasonal travel and electricity demand in the West and Middle East will support global oil demand. However, US tariffs and potential OPEC+ output increases may pressure crude prices, while geopolitical volatility adds further uncertainty.
In the petrochemical sector, oversupply particularly from China and reciprocal tariffs from the United States are expected to weigh on prices. Nonetheless, seasonal demand and declining crude costs may offer some relief.
