Bangkok--Nov 12--PTT
Mr. Prasert Bunsumpun, President of PTT Public Company Limited (PTT), announced the 9-month operational result in 2004 that due to the petroleum demand growth together with the upside trend of petrochemical and oil prices, PTT and its subsidiaries’ sales revenue grew by 27% to Bt 461.497 billion compared to the same period of last year; earning before interests, taxes, depreciation and amortization (EBIDA) rose by 24% to Bt 58.611 billion; share of net income from investments under equity method increased by 102% to Bt15.281 billion; and the net profit recorded at Bt 42.167 billion or Bt 15.07 per share, a rise of 49% .
In the third quarter of 2004, PTT and subsidiaries’ sales revenue was Bt 173.7 billion, 44% up from the same period of last year or Bt 53.183 billion. EBITDA rose by Bt 5.858 billion or 38% to Bt 21.334 billion; share of net income from investments under equity method stood at Bt 5.717 billion, a rise of 2.12 billion or 59%; and net profit was Bt 15.81 billion or Bt 5.65 per share, showing an increase of Baht 5.412 billion or 52% up from the third quarter of 2003.
Mr. Prasert said despite the continuous rise of oil price in line with the global markets, local oil demand did not decline. In fact, national consumption of fuel and diesel oil grew during this period. As a result, sales volume increase from PTT’s Oil Business Group in the third quarter this year recorded at 10,907 million liters, a rise of 1,689 million liters or 18%.
With respect to the natural gas business, sales volume of PTT’s Gas Business Group in the third quarter rose by 4% from the same period of 2003 to 2,850 million cubic feet per day (mmcfd) (calculated at heat value 1,000 BTU per cubic foot) due to demand growth from the Independent Power Producers, Small Power Producers, Industrial customers, and the gas separation plants. The gas separation plants’ products sales volume was 0.58% down from the same period of last year to 671,498 tons due to the shutdown of gas separation plant unit 4 from June 21, 2004 to August 20, 2004 for maintenance and repair of equipment (Cold Box). However, PTT’s Gas Business Group reported a slight increase in revenue and profit for the third quarter of 2004 compared to the same period of a previous year.
Mr. Prasert added that as of the ending of third quarter of 2004, PTT and subsidiaries’ assets stood at Bt 432.48 billion, 33% or Bt 108.15 billion up from the end of 2003; liabilities was Bt 268.78 billion, increased by 38% or Bt 73.39 billion; and shareholders’ equity was Bt 163.7 billion, rose by Bt 34.76 billion or 27% from the year 2003. End.