PTT’s Stunning 9M18 Profit Soars Beyond ฿100 Billion!

PTT Public Company Limited (PTT) has reported its 3Q18 consolidated financial statement through the Stock Exchange of Thailand as follows:

In 3Q18, net income of PTT and its subsidiaries was ฿30,329 million, increasing by almost ฿8 billion or 35.81% YoY, mainly due to the higher operating performance of exploration and production business from the rise in both average selling prices and sales volume.

In addition, performance of gas business group slightly increased from previous period mainly from PTT’s Natural Gas Supply and Trading (GSM) and Natural Gas Distribution (NGR) business area. Whereas, performance of petrochemical and refining business group decreased due to lower Accounting Gross Refining Margin (Accounting GRM) following the drop in stock gain together with the decrease in product prices of olefins petrochemical business even though product spread of aromatics petrochemical business increased. Likewise, the performance of oil business decreased with regard to the drop in gross profit due to lower stock gain in this quarter.

However, in 3Q18, there were lower loss on derivatives of PTT’s group and unrealized gain on foreign exchange from foreign currency loan compared to unrealized loss on foreign exchange in the last quarter.

 

Meanwhile, the sales revenue of PTT and its subsidiaries in 9M18 was ฿1,718,738 million, increasing by ฿254,975 million or 17.4% in all business groups compared with the same period last year due to the increase in average product selling prices of most petroleum and petrochemical products following the rise in average Dubai crude oil price which increased from US$ 51.1 per barrel to US$ 70.1 per barrel or 37.2%.

In 9M18, EBITDA of PTT and its subsidiaries was ฿286,953 million, increasing by ฿35,771 million or 14.2% mainly from exploration and production business following higher average selling prices and sales volume.