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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 2022 THBUSD
Gross Profit460,476.83M13,129.01M
Operating income316,249.60M9,016.83M
Income before tax206,713.04M5,893.75M
Net income91,391.10M2,605.72M
Diluted EPS3.190.09
Dividends Per Share20.05
Total Assets3,415.63B98,617.94M
Total liabilities1,881.93B54,336.35M
Total equity1,052.59B30,390.96M
Operating cash flow165,763.97M4,726.22M
Currency in THBCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 2,336.15B 2,219.73B 1,615.66B 2,258.81B 3,367.20B
Gross Profit 313,116.36M 252,209.66M 169,015.58M 376,566.97M 460,476.83M
Operating income 214,844.06M 141,751.17M 59,626.48M 266,276.50M 316,249.60M
Income before tax 210,505.08M 149,072.49M 60,938.53M 210,648.06M 206,713.04M
Net income 118,523.06M 91,458.92M 37,611.23M 108,137.90M 91,391.10M
EBITDA 338,437.03M 274,955.17M 199,506.48M 413,066.50M 483,579.60M
Diluted EPS 4.14 3.20 1.31 3.78 3.19
Dividends Per Share 2 2 1 2 2
Total Assets 2,353.68B 2,486.96B 2,544.18B 3,071.38B 3,415.63B
Total liabilities 1,036.11B 1,185.92B 1,258.33B 1,598.44B 1,881.93B
Total equity 874,325.24M 878,604.10M 882,040.40M 1,006.69B 1,052.59B
Operating cash flow 254,430.52M 250,857.26M 199,800.33M 299,874.52M 165,763.97M
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 72,265.81M 71,501.16M 51,626.69M 70,552.28M 96,004.94M
Gross Profit 9,685.83M 8,124.05M 5,400.69M 11,761.75M 13,129.01M
Operating income 6,645.91M 4,566.02M 1,905.29M 8,316.92M 9,016.83M
Income before tax 6,511.69M 4,801.85M 1,947.22M 6,579.41M 5,893.75M
Net income 3,666.35M 2,946.03M 1,201.82M 3,377.59M 2,605.72M
EBITDA 10,469.09M 8,856.72M 6,374.99M 12,901.78M 13,787.71M
Diluted EPS 0.12 0.10 0.04 0.11 0.09
Dividends Per Share 0.06 0.06 0.03 0.06 0.05
Total Assets 72,287.53M 83,026.82M 84,919.32M 91,943.84M 98,617.94M
Total liabilities 31,821.76M 39,591.88M 42,000.59M 47,850.45M 54,336.35M
Total equity 26,852.74M 29,332.02M 29,440.60M 30,136.09M 30,390.96M
Operating cash flow 7,870.46M 8,080.49M 6,384.38M 9,366.32M 4,726.22M

Valuation Measures

Dec 2022
Operating margin9.39%
Profit margin2.71%

Key executives

  • President, Chief Executive Officer & Director: Auttapol Rerkpiboon
  • Chief Financial Officer: Pannalin Mahawongtikul
  • Senior Executive VP-Engineering & Infrastructure: Chansak Chuenchom
  • Senior Executive Vice President: Worawat Pitayasiri
  • Senior Executive Vice President: Chadil Chavanalikikorn


  • 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%)
  • Eastspring Asset Management (Thailand) Co., Ltd. (0.4%)
  • SCB Asset Management Co., Ltd. (0.3%)
  • Kasikorn Asset Management Co., Ltd. (0.3%)
  • Krungsri Asset Management Co., Ltd. (0.1%)
  • Thanachart Fund Management Co., Ltd. (0.1%)

Contact Details

  • Website:
  • 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 and Retail Business Public Company Limited
  • 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.
  • Global Power Synergy Public Company Limited
  • 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


  • Siamgas & Petrochemicals Public Co. Ltd.
  • Esso Thailand Public Co. Ltd.
  • PT Barito Pacific Tbk
  • SUSCO Public Co. Ltd.
  • Loxley Public Co. Ltd.
  • Star Petroleum Refining Public Co. Ltd.
  • PTG Energy Public Co. Ltd.
  • Seven Utilities and Power Public Company Limited
Last Updated on 9 Jun, 2023

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