PTT Public Co., Ltd.

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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 2018	THB	USD
Revenue	2,336.15B	72,265.81M
Gross Profit	313,153.06M	9,686.96M
Operating income	214,880.76M	6,647.04M
Income before tax	210,541.78M	6,512.82M
Net income	118,559.75M	3,667.48M
EBITDA	338,437.03M	10,469.09M
Diluted EPS	4.15	0.12
Dividends Per Share	2	0.06
Total Assets	2,436.49B	74,830.87M
Total liabilities	1,117.99B	34,336.57M
Total equity	875,083.82M	26,876.03M
Operating cash flow	252,826.22M	7,820.83M
	Currency in THB	Currency in USD

Historical Data

THB | USD

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018
Revenue	2,605.06B	2,025.55B	1,718.84B	1,995.72B	2,336.15B
Gross Profit	220,221.98M	216,927.57M	253,208.37M	307,260.61M	313,153.06M
Operating income	124,469.32M	129,037.73M	173,087.82M	192,784.30M	214,880.76M
Income before tax	104,973.09M	50,877.20M	151,152.89M	205,617.52M	210,541.78M
Net income	58,106.39M	19,939.67M	92,788.03M	133,516.58M	118,559.75M
EBITDA	260,032.61M	272,373.84M	301,821.62M	309,073.48M	338,437.03M
Diluted EPS	2.03	0.67	3.26	4.67	4.15
Dividends Per Share	1.10	1	1.60	2	2
Total Assets	2,273.57B	2,208.55B	2,269.07B	2,267.48B	2,436.49B
Total liabilities	1,218.87B	1,120.87B	1,097.48B	1,018.92B	1,117.99B
Total equity	683,286.52M	697,147.03M	762,947.65M	818,671.75M	875,083.82M
Operating cash flow	291,476.53M	275,534.24M	248,397.15M	292,724.19M	252,826.22M

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018
Revenue	80,196.32M	59,101.10M	48,719.33M	58,812.68M	72,265.81M
Gross Profit	6,779.48M	6,329.46M	7,176.99M	9,054.77M	9,686.96M
Operating income	3,831.76M	3,765.03M	4,906.03M	5,681.23M	6,647.04M
Income before tax	3,231.57M	1,484.48M	4,284.30M	6,059.42M	6,512.82M
Net income	1,788.79M	581.79M	2,630.00M	3,934.65M	3,667.48M
EBITDA	8,005.05M	7,947.26M	8,554.89M	9,108.20M	10,469.09M
Diluted EPS	0.06	0.01	0.09	0.13	0.12
Dividends Per Share	0.03	0.02	0.04	0.05	0.06
Total Assets	69,105.50M	61,374.43M	63,363.50M	69,576.05M	74,830.87M
Total liabilities	37,047.93M	31,148.30M	30,646.92M	31,265.04M	34,336.57M
Total equity	20,768.58M	19,373.26M	21,305.13M	25,120.33M	26,876.03M
Operating cash flow	8,973.04M	8,039.47M	7,040.62M	8,626.40M	7,820.83M

Valuation Measures

Dec 2018
PER	11.08
ROA	5.04%
ROE	13.99%
Operating margin	9.19%
Profit margin	5.07%

Key executives

President, CEO, Secretary & Director: Chansin Treenuchagron
COO-Downstream Petroleum Business Group: Auttapol Rerkpiboon
Chief Financial Officer: Pannalin Mahawongtikul
Senior Executive Vice President: Chawalit Tippawanich
Executive Vice President: Somkiat Masunthasuwun

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%)
GIC Pte Ltd. (Investment Management) (0.8%)
Dimensional Fund Advisors LP (0.6%)
Norges Bank Investment Management (0.5%)
TMB Asset Management Co., Ltd. (0.2%)
The Caisse de depot et placement du Quebec (0.1%)
JPMorgan Asset Management (Singapore) Ltd. (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

Chevron Corporation
Royal Dutch Shell Plc Class B
Esso Thailand Public Co. Ltd.
Bangchak Corporation Public Company Ltd
RPCG Public Co., Ltd.
IRPC Public Co., Ltd.
Formosa Chemicals & Fibre Corporation
Pilipinas Shell Petroleum Corp.
Siamgas & Petrochemicals Public Co. Ltd.
PTG Energy Public Co. Ltd.
Loxley Public Co. Ltd.
Sea Oil Public Co. Ltd.
Star Petroleum Refining Public Co. Ltd.
Seven Utilities and Power Public Company Limited

Last Updated on 13 Dec, 2019