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Energy Minerals

PTT Public Co., Ltd.

Company Background

PTT is a Thai state-owned oil and energy company with the largest market capitalization on the Stock Exchange of Thailand. As gas resources in the Gulf of Thailand are starting to run dry, the company is pushing for resource development overseas. In 2012, its subsidiary PTT Exploration and Production spent about $2 billion to acquire Britain's Cove Energy, which owned interests in Mozambique, winning the bidding against rival Royal Dutch Shell.

As Thailand's finance ministry holds a more than 50% share, the company tends to be influenced by politics. After the military coup in May 2014, former Chairman Pranpree Bahiddha-Nukura, who was once the deputy leader of the Pheu Thai Party which led the toppled government, resigned from his post after less than a year. Many other board members appointed during the former regime followed suit. The current chairman, Piyasvasti Amranand, was energy minister in an earlier military-appointed government.

PTT is one of the main targets of the military government's push for the reform of state-owned enterprises. PTT has agreed to spin off its natural gas pipeline business to a new subsidiary in response to the government's initiative. President and CEO Tevin Vongvanich took office in October 2015 after his predecessor fulfilled his four year tenure. Tevin was the former chief executive of PTT's core subsidiary PTT Exploration and Production and had also served as PTT's chief financial officer from 2009 to 2012.

Business Summary

PTT Public Co., Ltd. is a holding company, which engages in the development and exploration of gas properties. It operates through the following segments: Gas, Petro & Refine, Oil & Training, PTT Exploration and Production Public Company Limited (PTTEP), and Other. The Other segment offers coal. The company was founded on December 29, 1978 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2021 THBUSD
Revenue2,258.81B70,552.28M
Gross Profit376,566.97M11,761.75M
Operating income248,298.06M7,755.37M
Income before tax210,648.06M6,579.41M
Net income108,137.90M3,377.59M
EBITDA395,088.06M12,340.24M
Diluted EPS3.780.11
Dividends Per Share20.06
Total Assets3,078.01B92,142.46M
Total liabilities1,605.07B48,049.06M
Total equity1,006.69B30,136.09M
Operating cash flow299,874.52M9,366.32M
Currency in THBCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 1,995.72B 2,336.15B 2,219.73B 1,615.66B 2,258.81B
Gross Profit 307,260.61M 313,116.36M 252,209.66M 169,015.58M 376,566.97M
Operating income 192,784.30M 214,844.06M 141,751.17M 59,626.48M 248,298.06M
Income before tax 205,617.52M 210,505.08M 149,072.49M 60,938.53M 210,648.06M
Net income 133,516.58M 118,523.06M 91,458.92M 37,611.23M 108,137.90M
EBITDA 309,073.48M 338,437.03M 274,955.17M 199,506.48M 395,088.06M
Diluted EPS 4.67 4.14 3.20 1.31 3.78
Dividends Per Share 2 2 2 1 2
Total Assets 2,267.48B 2,353.68B 2,486.96B 2,544.18B 3,078.01B
Total liabilities 1,018.92B 1,036.11B 1,185.92B 1,258.33B 1,605.07B
Total equity 818,671.75M 874,325.24M 878,604.10M 882,040.40M 1,006.69B
Operating cash flow 292,724.19M 254,430.52M 250,857.26M 199,800.33M 299,874.52M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 58,812.68M 72,265.81M 71,501.16M 51,626.69M 70,552.28M
Gross Profit 9,054.77M 9,685.83M 8,124.05M 5,400.69M 11,761.75M
Operating income 5,681.23M 6,645.91M 4,566.02M 1,905.29M 7,755.37M
Income before tax 6,059.42M 6,511.69M 4,801.85M 1,947.22M 6,579.41M
Net income 3,934.65M 3,666.35M 2,946.03M 1,201.82M 3,377.59M
EBITDA 9,108.20M 10,469.09M 8,856.72M 6,374.99M 12,340.24M
Diluted EPS 0.13 0.12 0.10 0.04 0.11
Dividends Per Share 0.05 0.06 0.06 0.03 0.06
Total Assets 69,576.05M 72,287.53M 83,026.82M 84,919.32M 92,142.46M
Total liabilities 31,265.04M 31,821.76M 39,591.88M 42,000.59M 48,049.06M
Total equity 25,120.33M 26,852.74M 29,332.02M 29,440.60M 30,136.09M
Operating cash flow 8,626.40M 7,870.46M 8,080.49M 6,384.38M 9,366.32M

Valuation Measures

Dec 2021
PER10.03
ROA3.84%
ROE11.45%
Operating margin10.99%
Profit margin4.78%

Key executives

  • President, CEO, Secretary & Director: Auttapol Rerkpiboon
  • Chief Financial Officer: Pannalin Mahawongtikul
  • Senior Executive Vice President: Worawat Pitayasiri
  • Senior Executive Vice President: Kongkrapan Intarajang
  • Executive Vice President: Wanida Boonpiraks

Shareholders

  • Government of Thailand (51.1%)
  • Krung Thai Asset Management Public Co., Ltd. (6.0%)
  • MFC Asset Management Public Co., Ltd. (Investment Management) (6.0%)
  • Social Security Office of Thailand (2.1%)
  • EGAT Saving & Credit Cooperative Ltd. (0.8%)
  • Norges Bank Investment Management (0.3%)
  • Eastspring Asset Management (Thailand) Co., Ltd. (0.3%)
  • Krungsri Asset Management Co., Ltd. (0.2%)
  • APG Asset Management NV (0.0%)
  • Victory Capital Management, Inc. (Investment Management) (0.0%)

Contact Details

  • Website:http://www.pttplc.com
  • Address: 555 Vibhavadi Rangsit Road, Chatuchak, Bangkok, 10900, Thailand
  • Phone: +66.2.537.2000

Related Companies

  • Arun Plus Co. Ltd.
  • PTT International Trading USA, Inc.
  • PTT Global Management Co., Ltd.
  • PTTEP International Holding Co., Ltd.
  • Partex (Brazil) Corp.
  • PTT Treasury Center Co., Ltd.
  • PTT Public Co., Ltd. /Oil & Retail Bus/
  • PTT Oil & Retail Business Public Co., Ltd.
  • PTT International Trading Co. Ltd.
  • PTTEP Group
  • PTT International Trading London Ltd.
  • Business Services Alliance Co., Ltd.
  • PTT Energy Resources Co. Ltd.
  • PTT Regional Treasury Center Pte Ltd.
  • SME Co., Ltd.
  • PTT Energy Solutions Co. Ltd.
  • Keloil-PTT LPG Sdn. Bhd.
  • PTT Tank Terminal Co., Ltd.
  • Subic Bay Energy Co. Ltd.
  • PTT International Trading Pte Ltd.
  • PTT Philippines, Inc.
  • PTT Retail Business Co., Ltd.
  • PTT International Co. Ltd.
  • PTT Green Energy Pte Ltd.
  • ConocoPhillips /147 Gasoline Service Stations/
  • Bangkok Polyethylene Ltd
  • Subic Bay Group
  • PTT Natural Gas Distribution Co., Ltd.
  • BCP Sukhapiban 3 Service Station
  • PTT Exploration & Production Plc

Competitors

  • IRPC Public Co., Ltd.
  • Siamgas & Petrochemicals Public Co. Ltd.
  • PT Barito Pacific Tbk
  • PTG Energy Public Co. Ltd.
  • Loxley Public Co. Ltd.
  • Star Petroleum Refining Public Co. Ltd.
  • SUSCO Public Co. Ltd.
  • Seven Utilities and Power Public Company Limited
Last Updated on 29 Nov, 2022

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