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Shares of Bangchak Corporation Plc (BCP) rose by more than 2% yesterday, after the company came out to say that it plans to spend up to 120 billion Baht in the near future to expand its business operations and has continues to stress its goal of achieving earnings before interest, tax, depreciation and amortization (EBITDA) of 100 billion Baht by 2030.
Shares of BCP ended the day yesterday at 37 Baht per share, up just over 2% and over the past 1-month shares of BCP has risen by 10.45% against the composite SET Index which has risen by just 3.16%.
Chaiwat Kovavisarach, Group Chief Executive Officer and President of Bangchak Group said that the aim of BCP is to focus on developing a platform for growth that supports robust and sustainable business expansion, enhancing competitiveness, and ensuring energy security, energy affordability, and environmental sustainability.
He said that between 2025 and 2030, the group plans to invest 120 billion Baht to achieve a new EBITDA target of 100 billion Baht by 2030. These investments are backed by strong market fundamentals, efficiency improvements, and business diversification, creating a balanced portfolio and financial strength.
Chaiwat said that BCP’s ‘A’ credit rating from TRIS Rating reflects its capacity to focus on growth opportunities while maintaining strong Return on Assets (ROA) and Return on Equity (ROE).
BCP, he said, was prioritizing long-term business expansion through the development and expansion of new ventures, including technologies for a low-carbon society, the sustainable fuel business, and environmentally friendly energy solutions. This extends to the adoption of digital systems and artificial intelligence (AI) to adapt to global changes and maximize long-term stakeholder benefits.
Bangchak Group is committed to leading the way forward by creating a future through investments and innovations that address global challenges and contribute to a low-carbon society. With a vision of “Crafting a Sustainable World with Evolving Greenovation,” the group is committed to achieve Carbon Neutrality by 2030 and Net Zero GHG Emissions by 2050.
Chaiwat said that with a clear vision and robust strategies, Bangchak Group aims for continuous growth, reaching a target EBITDA of 100 billion Baht by 2030, ensuring energy security for Thailand and the region, and maximizing benefits for stakeholders and sustainable development.
BCP, which is celebrating its 40th anniversary this year, said that in 2025, Bangchak will commence the production of Sustainable Aviation Fuel (SAF), which will play a crucial role for both the company and the nation, contributing to sustainability for Bangchak and society as a whole as a sustainable alternative for the aviation industry. Bangchak will lead the production of SAF with a capacity of 7,000 barrels per day, with Bangchak Group’s commitment to being a leader in sustainable fuel development, the company will also pursue strategies under the Bangchak 100x concept to achieve its target of 100 billion Baht in EBITDA and grow into a 100-year sustainable organization alongside Thai society.
In the retail sector, Bangchak intends to expand into commercial markets in Cambodia, Laos, and Vietnam, improve customer experience, leverage customer relationship management, and enhance the Bangchak brand image through initiatives like Inthanin Coffee and electric vehicle charging stations.
As for the upstream business, Bangchak Group established a strong foundation in petroleum exploration and production (E&P) by investing in OKEA ASA in Norway in 2018. The group aims to expand its production capacity to 50,000 barrels per day by 2030 and plans to acquire new E&P assets, particularly in the Asia-Pacific region, to enhance energy security. This strategic move will sustainably add value to the group’s E&P business, with the goal of reaching 100,000 barrels per day by 2030.
