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 2019	THB	USD
Revenue	2,219.73B	71,501.16M
Gross Profit	252,209.66M	8,124.05M
Operating income	141,751.17M	4,566.02M
Income before tax	149,072.49M	4,801.85M
Net income	91,458.92M	2,946.03M
EBITDA	274,955.35M	8,856.73M
Diluted EPS	3.20	0.10
Dividends Per Share	2	0.06
Total Assets	2,484.43B	82,942.48M
Total liabilities	1,183.39B	39,507.54M
Total equity	878,604.10M	29,332.02M
Operating cash flow	250,857.26M	8,080.49M
	Currency in THB	Currency in USD

Historical Data

THB | USD

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 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 2015	Dec 2016	Dec 2017	Dec 2018	Dec 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
PER	13.74
ROA	3.78%
ROE	10.43%
Operating margin	6.38%
Profit margin	4.12%

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%)
Norges Bank Investment Management (0.6%)
Dimensional Fund Advisors LP (0.6%)
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

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Bangkok Polyethylene Ltd
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BCP Sukhapiban 3 Service Station
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Competitors

IRPC Public Co., Ltd.
RPCG Public Co., Ltd.
Siamgas & Petrochemicals 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 27 Mar, 2020