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BAFS Groups 36th Anniversary Marks a Stronger Foundation, Readiness for New Businesses, and a New Way Forward to Lead Energy Services in the Region

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Bangkok--21 Nov--ABM Connect

Bangkok Aviation Fuel Services (BAFS) Group celebrated its 36th anniversary by announcing their future business plan and growth strategy. The Group will focus on strengthening its core business and advancing into new business areas with strong potential where it has a competitive edge, while also seeking investment partnerships both domestically and abroad.

M.R. Supadis Diskul, Chairman, Bangkok Aviation Fuel Services Public Co., Ltd. (BAFS), Thailand's leader in integrated fuel servicing, said that BAFS was established with a mission to enhance the country's energy security and the growth of the aviation industry. The company also integrates social values into its operations while reducing environmental impacts from truck transport services. With a vision of being a sustainable leader in the energy business, BAFS has achieved strong growth in its 36 years of operations providing rapid, timely and safe aviation fuel services in line with international standards while taking the environment to heart. These efforts have earned BAFS the trust of oil and aviation companies around the world.

"As an integrated service provider of aviation fuel, BAFS has been serving more than 800 flights each day at five airports nationwide – Suvarnabhumi International, Don Muang International, Samui, Trat and Sukhothai. We have expanded our business to include related services in order to build valuable infrastructure that contributes to the nation's economic development. This will also contribute to energy security and environmental preservation, ensuring that we are at the forefront of energy producers in the region," said M.R. Supadis.

Mr. Prakobkiat Ninnad, President of BAFS, said that for the company's first nine months of operations in 2019, the Group recorded total assets worth 17,094 million baht and service revenue at 2,869 million baht, increasing 2.2% from 2,807 million baht in the previous year. Revenue consisted of 82% from aviation refueling service and 18% from fuel pipeline transportation. Total aviation fuel was recorded at 4,562 million liters, with growth of 2.4%, while all fuel types was recorded at 3,413 million liters, declining 1.1%. The Group had growth of 27.5% in net profit at 780 million baht, which decreased by 10.3% against the year earlier period. This was due to cost realization in the form of compensation paid to employees, who had worked for the Group for over 10 years, amounting to 80 million baht as per the Labor Protection Act B.E. 2562.

"The Group operates with an approach that balances economic, social, and environmental considerations to create sustainable growth and favorable returns to investors as well as other stakeholders. Our growth strategy is focused on managing the supply chain and all of the value chains in the business, from the upstream process of receiving our supply from oil companies, to refueling airplanes at the end of the stream chain through standardized procedures. Our operations, meanwhile, are focused on resource efficiency while reducing environmental impacts and incorporating climate change concerns. We continue to support the creation as well as adoption of innovation at scale. Internally, we are looking to enhance efficiencies in order to successfully realize our strategy as planned," said Mr. Prakobkiat.

M.L. Nathasit Diskul, Vice President of BAFS, said that amid a rapidly changing environment, the Group needs to adjust its strategy in order to stay true to its founding mission in developing sustainable energy security. The Group will expand its core business to potential airports domestically and abroad, and increase the share of non-core revenue from other income sources. Presently, the Group's revenue breakdown is 80:20 from core and other non-core businesses. However, in the next five years, the goal is to drive this proportion to 60:40 by looking to other businesses, especially those that are environmental friendly.

"For our core business expansion, BAFS has partnered with our alliance to bid for the fuel service project for the Royal Thai Navy's U-Tapao Airport. We have passed the qualification stage already and are now waiting for the final announcement. Furthermore, we are planning to invest overseas. An investment study, analysis of opportunities and market potential, and potential partnerships are currently underway and we are aiming for a conclusion in 2020. As to other opportunities, we are looking to invest in related businesses such as production expansion to refuelling trucks and electric ground service equipments. This requires specific engineering design and modern engineering technology. We are also looking at new business opportunities such as renewable energy and software development. Hopefully, we can start making our investment next year," said M.L. Nathasit.

Currently, BAFS Group has six subsidiaries:
  • Fuel Pipeline Transportation Limited (FPT) provides fuel transport through an underground pipeline system from Bangchak Refinery (Bangchak-Don Mueng-Bang Pa In) and from Chong Nongsi depot (Makkasan-Suvarnabhumi). The company is expanding its northern pipeline system by laying an underground pipeline from Bang Pa In depot to Pichit and Lampang depots. (BAFS holds a 75% stake)
  • Thai Aviation Refueling Company Limited (TARCO) provides aviation fuel services using hydrant technology at Suvarnabhumi Airport. Currently, the company is laying a hydrant pipeline system for the Suvarnabhumi Phase 2 Project. (BAFS holds a 90% stake)
  • Intoplane Services Company Limited (IPS) provides refueling services at Samui, Trat, and Sukhothai airports. (BAFS holds an 83.3% stake)
  • BAFS Innovation Development Company Limited (BID) is involved in the research and development, design and improvement, production and sales, plus the granting of rights and services of innovative products. (BAFS holds a 100% stake)
  • BAFS INTECH Company Limited designs, produces, and assembles aviation refueling vehicle and aviation ground service equipment. (BAFS holds a 90% stake)
  • BPTG Company Limited operates petrol stations in the front area of Pichit depot, Lampang depot, and Kampang Petch booster pumping station. (BAFS holds a 40% stake)

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