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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 2019 THBUSD
Revenue2,219.73B71,501.16M
Gross Profit252,209.66M8,124.05M
Operating income141,751.17M4,566.02M
Income before tax149,072.49M4,801.85M
Net income91,458.92M2,946.03M
EBITDA274,955.35M8,856.73M
Diluted EPS3.200.10
Dividends Per Share20.06
Total Assets2,484.43B82,942.48M
Total liabilities1,183.39B39,507.54M
Total equity878,604.10M29,332.02M
Operating cash flow250,857.26M8,080.49M
Currency in THBCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 2,025.55B 1,718.84B 1,995.72B 2,336.15B 2,219.73B
Gross Profit 216,927.57M 254,231.59M 307,260.61M 313,116.36M 252,209.66M
Operating income 129,037.73M 173,087.81M 192,784.30M 214,844.06M 141,751.17M
Income before tax 50,877.20M 151,152.88M 205,617.52M 210,505.08M 149,072.49M
Net income 19,939.67M 92,788.03M 133,516.58M 118,523.06M 91,458.92M
EBITDA 272,373.84M 301,821.61M 309,073.48M 338,437.03M 274,955.35M
Diluted EPS 0.67 3.26 4.67 4.14 3.20
Dividends Per Share 1 1.60 2 2 2
Total Assets 2,208.55B 2,232.33B 2,267.48B 2,353.68B 2,484.43B
Total liabilities 1,120.87B 1,060.73B 1,018.92B 1,036.11B 1,183.39B
Total equity 697,147.03M 762,947.64M 818,671.75M 874,325.24M 878,604.10M
Operating cash flow 275,534.24M 248,397.17M 236,563.71M 254,430.52M 250,857.26M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 59,101.10M 48,719.33M 58,812.68M 72,265.81M 71,501.16M
Gross Profit 6,329.46M 7,205.99M 9,054.77M 9,685.83M 8,124.05M
Operating income 3,765.03M 4,906.03M 5,681.23M 6,645.91M 4,566.02M
Income before tax 1,484.48M 4,284.30M 6,059.42M 6,511.69M 4,801.85M
Net income 581.79M 2,630.00M 3,934.65M 3,666.35M 2,946.03M
EBITDA 7,947.26M 8,554.89M 9,108.20M 10,469.09M 8,856.73M
Diluted EPS 0.01 0.09 0.13 0.12 0.10
Dividends Per Share 0.02 0.04 0.05 0.06 0.06
Total Assets 61,374.43M 62,337.33M 69,576.05M 72,287.53M 82,942.48M
Total liabilities 31,148.30M 29,620.75M 31,265.04M 31,821.76M 39,507.54M
Total equity 19,373.26M 21,305.13M 25,120.33M 26,852.74M 29,332.02M
Operating cash flow 8,039.47M 7,040.62M 6,971.38M 7,870.46M 8,080.49M

Valuation Measures

Dec 2019
PER13.74
ROA3.78%
ROE10.43%
Operating margin6.38%
Profit margin4.12%

Key executives

  • President & Chief Executive Officer: Auttapol Rerkpiboon
  • Chief Operating Officer: Atikom Terbsiri
  • Chief Financial Officer: Pannalin Mahawongtikul
  • Senior Executive Vice President: Chawalit Tippawanich
  • 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 (1.4%)
  • Norges Bank Investment Management (0.6%)
  • EGAT Saving & Credit Cooperative Ltd. (0.6%)
  • GIC Pte Ltd. (Investment Management) (0.5%)
  • TMB Asset Management Co., Ltd. (0.2%)
  • The Caisse de depot et placement du Quebec (0.1%)
  • Acadian Asset Management LLC (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

  • PTT Treasury Center Co. Ltd.
  • PTT Public Co., Ltd. /Oil & Retail Bus/
  • PTT International Trading Co. Ltd.
  • PTTEP Group
  • PTT International Trading London 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.
  • JV Marine Ltd.
  • PTT Cambodia Ltd.
  • Subic Bay Energy Co. Ltd.
  • PTT International Trading Pte Ltd.
  • PTT Philippines Trading Corp.
  • PTT Retail Management Co. Ltd.
  • PTT Philippines, Inc.
  • PTT Philippines Corp.
  • PTT Retail Business Co., Ltd.
  • PTT International Co. 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.
  • RPCG Public Co., Ltd.
  • Formosa Chemicals & Fibre Corporation
  • Pilipinas Shell Petroleum Corp.
  • Seven Utilities and Power Public Company Limited
  • Loxley Public Co. Ltd.
  • PTG Energy Public Co. Ltd.
  • Sea Oil Public Co. Ltd.
  • Star Petroleum Refining Public Co. Ltd.
Last Updated on 3 Jul, 2020

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