Latest news with #NathasitDiskul
The Sun
22-05-2025
- Business
- The Sun
BAFS expands into Southeast Asia with delivery of Thai-engineered aircraft refueling vehicles for Cambodia's new international airport, set to launch mid-year
BANGKOK, THAILAND - Media OutReach Newswire - 22 May 2025 - M.L. Nathasit Diskul, President of Bangkok Aviation Fuel Services Public Company Limited (BAFS), said BAFS INTECH Company Limited, a subsidiary of BAFS Group, specializes in the design, manufacture, and assembly of aircraft refueling vehicles and ground support vehicles for airport operations. Leveraging the expertise of its engineering and technical teams, BAFS INTECH integrates cutting-edge innovations with advanced safety technologies to produce high-performance, durable vehicles that meet the requirements of ground handling service providers throughout the region. The company is delivering seven units, including hydrant dispensers, ground support vehicles, and mobile refueling carts, to Phnom Penh Aviation Fuel Service Co., Ltd. (PPAFS) in May 2025. These units will service Techo International Airport in Phnom Penh, Cambodia, which will be officially opened this July, marking another significant milestone that underscores BAFS's leadership in comprehensive aircraft refueling services. BAFS INTECH's aircraft refueling vehicle manufacturing business started with BAFS's foundational knowledge and proficiency in aircraft refueling operations, enhanced by state-of-the-art technology. Its capacity to modify refueling vehicles to client specifications, offering various sizes and flow rates to fit different aircraft types and airport operational settings, is BAFS's competitive advantage. This approach ensures optimal quality, safety compliance, and operational suitability, with manufacturing quality that conforms to the standards for supplying aviation fuel established by the Joint Inspection Group (JIG), the global benchmark for aviation refueling systems. BAFS INTECH is committed to developing technologies related to aircraft refueling services to meet the expansion of the aviation industry, particularly in Southeast Asia, which is emerging as a regional transportation and logistics hub. Initially focusing on producing aircraft refueling vehicles for BAFS and domestic clients, the company has progressively expanded into neighboring markets. Over the past four years, BAFS INTECH has earned the trust of clients in Myanmar and Laos, who have selected the company to design and manufacture aircraft refueling vehicles and ground support vehicles. M.L. Nathasit said, 'With over 40 years of experience in providing international-standard aviation fuel supply services and a commitment to elevating ground handling services through Thai-designed and manufactured products, this delivery underscores BAFS INTECH's capabilities and readiness as a leader in the design and manufacture of airport ground support vehicles. We have 16 more vehicles in production awaiting delivery this year, and we anticipate orders for 17 units in 2025. BAFS INTECH plans to penetrate international markets more extensively, particularly in Southeast Asia, by emphasizing our capabilities to produce high-performance vehicles tailored to meet Asian operational requirements. We aim to expand into Vietnam, Malaysia, the Philippines, and Singapore within the next five years.'
Zawya
24-02-2025
- Business
- Zawya
BAFS Reports Strong 2024 Performance with First Profit in Five Years at THB 102.9M, Approves THB 0.30 Yearly Dividend, Eyes Asian Market Expansion in 2025
BANGKOK, THAILAND - Media OutReach Newswire - 24 February 2025 - BAFS has announced its 2024 financial results, reporting total revenue of THB 3.507 billion and a net profit of THB 102.9 million, marking a 175% increase from the previous year and the company's first profitable year since the COVID-19 pandemic. This turnaround to profitability was driven by a high volume of aviation fuel refueling and pipeline oil transportation. BAFS plans to distribute a yearly dividend of THB 0.30 per share for 2024. Looking ahead to 2025, the company has allocated an investment budget exceeding THB 1 billion to strengthen its business and expand into Asian markets, targeting an 8% revenue growth. M.L. Nathasit Diskul, President of Bangkok Aviation Fuel Services Public Company Limited (BAFS), stated that BAFS and its subsidiaries (BAFS Group) demonstrated robust and consistent business growth in 2024, leading to the company's first profitable year since the COVID-19 outbreak in 2019, with a net profit of THB 102.9 million—a 175% increase from the previous year. This growth was primarily attributed to a surge in aviation fuel refueling volume, which reached 5.047 billion liters, exceeding expectations, along with a significant increase in northern pipeline oil transportation to 1.226 billion liters. These factors drove total revenue to THB 3.507 billion, reflecting a 14% year-over-year increase, in line with the recovery of the tourism sector. EBITDA also grew by 21% year over year, reaching THB 1.594 billion. In Q4 2024, BAFS Group recorded total revenue of THB 955.4 million, a 19% year-over-year increase, with EBITDA of THB 343.9 million, supported by higher gross profits resulting from increased aviation fuel sales. Operating expenses rose by 1% while net finance costs decreased by 9% due to scheduled debt repayments to financial institutions and lower interest rates on commercial bank loans. The company recognized a Q4 loss due to a fair value adjustment of its investment in a Japanese power plant and an impairment of goodwill from a domestic power plant. Additionally, it wrote off deferred tax assets (DTA) that were deemed unlikely to be utilized in the future. These accounting adjustments had no cash flow impact and resulted in a Q4 net loss attributable to shareholders of THB 49.8 million. Following its strong performance in 2024, the Board of Directors approved a dividend payout of THB 0.30 per share for 2024. This includes an interim dividend of THB 0.10 per share, paid on September 3, 2024, and a final dividend of THB 0.20 per share, scheduled for payment on May 22, 2025. The final dividend is subject to approval at the company's 2025 Annual General Meeting. BAFS Group will continue its commitment to sustainable growth in 2025, targeting an 8% revenue increase. With over THB 1 billion allocated for strategic investments, the company will collaborate with partners to explore new business opportunities while enhancing Thailand's energy transportation infrastructure. A key project is the extension of the northern oil pipeline connecting Ang Thong and Saraburi led by BAFS Pipeline Transportation Co., Ltd. Construction is set to begin in Q1 2025, with commercial operations expected to commence in 2026. Once completed, the total length of the pipeline system will exceed 726 kilometers, making it the longest and most advanced oil transportation pipeline in Thailand and the longest in Southeast Asia. Amid the ongoing energy transition and its challenges, BAFS Group remains committed to sustainable value creation and energy security. The company's five-year strategic plan (2025-2029) focuses on three key pillars. The first pillar, Solid Financials for Uplifting Asia, involves expanding investments across Asia, leveraging BAFS Group's capabilities to seek investment and growth opportunities in the Asian market. Two key contributors are BAFS INTECH Co., Ltd., which is driving the expansion of the aviation refueling truck market in Southeast Asia, and BAFS Clean Energy Corporation Co., Ltd., which is currently advancing investments in Mongolia. The second pillar, Sustainability and Governance for a Thriving Future, focuses on supporting the transition of society and the aviation industry to a sustainable energy era, primarily by preparing for the adoption of sustainable aviation fuel (SAF). Last year, BAFS began SAF refueling services at Samui and Suvarnabhumi International Airports and recently obtained ISCC-CORSIA certification in the logistic center scope for its aviation fuel storage and refueling stations at Don Mueang and Suvarnabhumi Airports. The third pillar, Re-imagining the Future of Work for Human Empowerment, emphasizes building a future-ready workforce by enhancing employees' skills in generative AI and digital literacy to ensure adaptability to changes. BAFS is also assessing and preparing its IT infrastructure to provide employees with secure and convenient access to generative AI tools to boost efficiency. Hashtag: #BAFS #BAFSGroup The issuer is solely responsible for the content of this announcement. Bangkok Aviation Fuel Services Public Company Limited (BAFS)
