Below are the financial statements of Gulf Energy Development, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in billions of THB | 2024 as of 2024-12-31 | 2023 as of 2023-12-31 | 2022 as of 2022-12-31 |
|---|---|---|---|
| Assets | — | — | — |
| Current assets | — | — | — |
| Cash and cash equivalents | 34.1a | 36.06a | 39.19a |
| Short-term deposits at financial institutions used as collateral | 6.11a | 5.95a | 3.02a |
| Trade receivables | 18.78a | 21.17a | 19a |
| Current portion of lease receivable under power purchase agreement | 2.38a | 1.68a | 1.04a |
| Other current receivables | 4.6a | 2.9a | 2.98a |
| Short-term loans to related parties | 0.15a | 0a | 0a |
| Current portion of long-term loans to related parties | 0a | 0a | 0.05a |
| Other current financial assets | 1.06a | 1.81a | 3.13a |
| Inventories | 3.18a | 2.96a | 1.56a |
| Refundable VAT | 1.09a | 0.18a | 0.28a |
| Total current assets | 71.45a | 72.69a | 70.25a |
| Non-current assets | — | — | — |
| Deposits at financial institutions used as collateral | 1.24a | 1.32a | 1.29a |
| Other non-current financial assets | 21.25a | 10.97a | 11.81a |
| Investments in associates | 146.92a | 145.93a | 142.01a |
| Investments in joint ventures | 37.32a | 34.81a | 18.93a |
| Other non-current receivables | 3.55a | 1.89a | 1.76a |
| Lease receivable under power purchase agreement | 71.87a | 57.02a | 38.64a |
| Receivable from service concession arrangement | 13.39a | 9.16a | 4.61a |
| Long-term loans to related parties | 23.83a | 20.88a | 16.45a |
| Investment properties | 3.28a | 3.28a | 3.27a |
| Advance payments for property, plant and equipment | 2.6a | 2.02a | 2.14a |
| Property, plant and equipment | 90.65a | 90.22a | 99.56a |
| Right-of-use assets | 1.96a | 1.93a | 2.35a |
| Intangible assets | 5.57a | 5.96a | 3.87a |
| Deferred tax assets | 0.78a | 0.83a | 0.73a |
| Refundable VAT | 0.23a | 0.21a | 0.03a |
| Other non-current assets | 0.34a | 0.42a | 0.48a |
| Total non-current assets | 424.76a | 386.83a | 347.92a |
| Total assets | 496.2a | 459.51a | 418.17a |
| Liabilities and equity | — | — | — |
| Current liabilities | — | — | — |
| Short-term loans from financial institutions | 11.39a | 4.4a | 6.67a |
| Short-term loans from related parties | 0a | 0.39a | 0a |
| Trade payables | 6.07a | 9.39a | 7.48a |
| Construction payables | 1.91a | 7.42a | 7.74a |
| Other current payables | 7.14a | 5.76a | 5.68a |
| Current portion of long-term loans from financial institutions | 24.98a | 23.14a | 18.13a |
| Current portion of lease liabilities | 0.33a | 0.25a | 0.36a |
| Current portion of debentures | 19.5a | 14.5a | 4.5a |
| Corporate income tax payable | 0.06a | 0.05a | 0.06a |
| Other current financial liabilities | 0.23a | 0.34a | 1.24a |
| Total current liabilities | 71.61a | 65.62a | 51.87a |
| Non-current liabilities | — | — | — |
| Construction payable | 0.25a | 0.27a | 3.2a |
| Other non-current payables | 2.78a | 1.99a | 1.39a |
| Other non-current financial liabilities | 2.4a | 1.55a | 1.66a |
| Long-term loans from financial institutions | 113.31a | 120.16a | 119.18a |
| Lease liabilities | 1.64a | 1.58a | 1.79a |
| Debentures | 145.93a | 120.43a | 99.93a |
| Deferred tax liabilities | 2.27a | 1.9a | 1.68a |
| Provisions for employee benefits | 0.85a | 0.74a | 0.68a |
| Provision for decommissioning costs | 1.35a | 1.18a | 0.99a |
| Total non-current liabilities | 270.75a | 249.79a | 230.5a |
| Total liabilities | 342.36a | 315.41a | 282.37a |
| Equity | — | — | — |
| Share capital | — | — | — |
| Authorised share capital | 11.73a | 11.73a | 11.73a |
| Issued and paid-up share capital | 11.73a | 11.73a | 11.73a |
| Share premium | 51.82a | 51.82a | 51.82a |
| Surplus from business combination under common control | -0.32a | -0.32a | -0.32a |
| Surplus from the changes in proportion of investment/interests in subsidiaries | 1.49a | 1.49a | 1.49a |
| Retained earnings | — | — | — |
| Appropriated legal reserve | 1.17a | 1.17a | 1.17a |
| Unappropriated | 57.39a | 49.72a | 41.89a |
| Other components of equity | 0.86a | 0.97a | 3a |
| Equity attributable to owners of the parent | 124.16a | 116.59a | 110.79a |
| Non-controlling interests | 29.68a | 27.52a | 25.02a |
| Total equity | 153.84a | 144.1a | 135.8a |
| Total liabilities and equity | 496.2a | 459.51a | 418.17a |
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